Sonarwa general insurance is looking at developing micro-insurance products for Umurenge Saccos (sectoral savings and credit co-operatives) as one of the ways to reposition itself in increasingly competitive local market.

Emiola Soji, the Sonarwa managing director, said Saccos present a good platform to increase insurance uptake since they deal with huge numbers of clients. He said the insurer is already developing products for some of the Saccos.

Presently, there are over two million Rwandans with accounts in Umurenge Saccos. Rwanda’s insurance penetration level is at slightly about 1.6 per cent of the 11.5 million Rwandans, insuring Saccos and their clients would push up the numbers.

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