Strathmore Business School through Strathmore Africa Data Analytic Centre, in collaboration with Insurance Information Bureau (IIB) will sign a Memorandum of Understanding on 6th April 2018, with the objective of collating, developing, storing and analysing of Insurance industry data for purposes of facilitating insurance uptake, first in Kenya and then progressively to East Africa and ultimately to the entire Sub Saharan Africa.
As the only University with the Data Analytics Centre, and with the partnership being the first of its kind in the region, the partnership is aimed at ensuring that the Africa insurance data is stored in Africa and for Africa. This data will be used in products development, client management and IFRS; helping the Insurance market to grow through periodic analysis of insurance uptake and economic growth as well as mapping insurance companies using data visualization.
Strathmore Africa Data Analytics Centre aims to bring the power of new technologies and innovations to some of the World’s oldest problems, demonstrate the power of partnership and provide new models for action in the era of the data revolution.
IIB is committed to providing information to potential and insurance consumer publics, policy-makers, potential investors in the insurance and financial services industry (both local and international), to government, the suppliers of insurance – the insurance companies, as well as to funders and donors. IIB gathers data through Insurance companies and third-party administrators (TPAs), research and marketing intelligence. Such data is warehoused, processing and made available to all stakeholders.