Just like any other aspects of the economy, the insurance industry had been significantly affected by the overall economic and other policies existed in Ethiopia. Though the potential for growth is strong, the insurance industry is not delivering as expected due to structural bottlenecks and challenges at macro as well as micro levels.
Hence, to develop the industry, and achieve the growth envisioned, deeper understanding of the realities on the ground and enabling legal and regulatory framework is needed. On top of these, broader understanding of the industry perspective through the value chain, establishing industry conduct that will enhance consumer trust, identifying growth avenues and by crafting right strategies is also required. Above all liberalizing the sector in every aspect is needed to emancipate the industry.