Case Study

Leadway Assurance: Innovating the Insurance Industry

June 20, 2024

The case for insuring women for a better tomorrow

The insurance market in Côte d’Ivoire is the fifth largest in Sub-Saharan Africa. Nonetheless, the insurance penetration rate is estimated to be about 1.19 percent, providing an opportunity for growth through extension of insurance coverage to women, thereby building their resilience to stay healthy, protect their families, and grow their businesses. By 2030, women customers will represent a $1.7 trillion opportunity for the global insurance industry, with half of this growth coming from emerging markets, including Côte d’Ivoire.

This case study delves into Leadway Assurance in Cote d’Ivoire, a subsidiary of Leadway in Nigeria, and their groundbreaking women's insurance program.

It highlights the impactful initiatives of this IFC client and aims to inspire similar efforts in emerging markets. The study details the partnership between IFC and Leadway Assurance Côte d’Ivoire, focusing on the Queen Program, which empowers Ivorian women through customized insurance products and financial literacy. Additionally, it showcases Leadway Assurance Côte d’Ivoire's innovative market engagement strategies, such as leveraging brand ambassadors and fostering a women's community. Inspired by the partnership with Leadway Nigeria, an IFC equity investee client that entered the Ivorian market in 2018, this project exemplifies their rapid establishment as a market leader through innovation.