The insurance sector should diversify and offer various products to attract more clients and increase insurance penetration in the country, Jean Pierre Majoro, the Rwanda Association of Insurers executive secretary, has said.He added that the entry last year of new players, like UAP and Radiant, will boost the industry’s efforts to reach more people and enhance policy uptake, saying the local market still has a lot of potential that newcomers and old firms can exploit. Majoro urged insurers to venture into micro-insurance as most of the country’s businesses are in the informal sector that does not have a lot of money."Most of the firms are focusing on medical and third party motor vehicle policies. But there is still a virgin area in the micro-insurance that has huge potential that can benefit firms that will diversify to offer these policies,” he said.Rwanda has over 10 insurance companies, including public and military medical insurance institutions. There are about six brokers and close to 160 insurance agents. However, insurance penetration stands at one per cent, below the continent’s average of three per cent. The global average is between eight and nine per cent.The local industry has huge potential for growth despite the marginal profitability rate. Sector stakeholders blame the low insurance penetration rate on shortage of qualified underwriters and lack of awareness.Majoro said there is still need to sensitise the public on the benefits of insurance. "The majority of Rwandans do not know how to acquire policies or make a claim. That’s why we want the government to make insurance studies part of the education curriculum so that people can understand its importance from an early age. This, we hope, will greatly boost the sector and increase penetration in the long-run,” he said.Majoro added that the move would also support efforts to develop skills in the sector."We have to find a way and train more Rwandans to close the skills gap the sector is currently facing,” he said.