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List of Insurance Companies Logos and Names in Burundi
List of Insurance Companies Logos and Names in Burundi. The graphic mark of a company is synonymous with its brand. In insurance, a logo is instantly recognizable and allows the customer to associate the company with the useful qualities such as trust, the right price and many other essential issues to find the best assurance.
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La Carte D’Assurance Maladie
Abstract
La Carte d’Assurance Maladie (CAM) is a national health card insurance scheme implemented by the government of Burundi since 1984. Focus group discussions, a household survey, and a retrospective outpatient survey was used in 1992 to assess its financial and social performance in Muyinga Province.
The study showed that although the revenue from premiums was insufficient to fund even the recurrent costs of outpatient drugs consumed by participating households (the current price of the CAM card would cover approx. 34% of the outpatient drug costs), the scheme performed a valuable social equity function.
Women reported that they had little access to cash and that CAM, by eliminating cash payments at the point of use, empowered them to decide the need for, and timing of health care consumption by household members without consulting male household heads.
Other findings suggested that the schemes, financial performance was poor because current membership was low (23% of households) and, more importantly, households with relatively high risks dominated the scheme (‘adverse household selection’), making risk-sharing sub-optimal.
List of Insurance Companies Logos and Names. The graphic mark of a company is synonymous with its brand. In insurance, a logo is immediately recognizable and allows the customer to associate the business with the useful qualities such as trust, the fair price and many other essential questions about the task of finding the best coverage.
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The Insurance Industry in Burkina Faso
Burkina Faso’s commercial assurance industry
The commercial assurance industry of Burkina Faso comprises three main company “groups” that deal in personal and business insurances (i.e., excluding those that only focus on trade and investment-related insurances). In order of market share, these are: Société Nationale d’Assurances et de Réassurances (SONAR); Foncias; and Union des Assurances du Burkina (UAB). As is the international trend, the CIMA Code (see 3.2 below) requires that a single company cannot practice both long-term and short-term insurances, thus in the course of the 1990s SONAR and Foncias each divided into two discrete but allied companies, while UAB is still in the process of doing so.
The total turnover of the assurance industry is in the order of 10 to 12 billion FCFA (US$13.5-16), which is around 0.7 per cent of GDP or, more interestingly, just less than the collective savings deposits or loan books of the 21 authorized MFIs. Taking both long term and short-term insurances together, the SONAR group accounts for roughly one-half of the market share, while the Foncias group accounts for another third of market share, and UAB the remaining one-sixth. SONAR is also the oldest of the three insurance groups, having been started in 1974 through the absorption of the operations of foreign societies, leaving foreign interests a stake of 38 per cent relative to 51 per cent in the State and 11 percent for private national interests. After 1994, the stake of the State was reduced to 22 per cent, largely on account of advice from multilateral donor agencies. There are still significant foreign interests in the Burkinabé insurers, generally French. Roughly 38 percent of SONAR is presently owned by foreign insurance concerns, and Foncias is a branch of Athéna Afrique, which is the African arm of the Paris-based Groupe AGF-Allianz. UAB, similarly, is a member of the Paris-based Groupe AXA.
Much of the commercial insurance business in Burkina Faso owes to compulsory third-party liability insurances for owners of cars and trucks. While many countries legislate compulsory third-party vehicle insurances, in Burkina Faso as in much of the rest of West Africa, the low demand for other types of insurances (especially long-term insurances) means that third-party insurances constitutes the most common type of insurances written (La Voie, 1998). While it is difficult to gauge the degree of compliance with this law, casual observation would suggest that it is high; such insurance is paid on an annual basis, and vehicle owners must mount a certificate on their windscreens at all times demonstrating that their insurance is up to date. That this insurances accounts for a large share of all commercial insurances (i.e., a number of policies as well as by volume of premium), is suggested by the fact that the capital dedicated to, say, the short-term business of SONAR (SONAR-IARD), is almost 50 per cent larger than its long-term insurances.
This is contrary to what one finds in most countries where on average long-term insurance is 50 percent more important than short-term insurance,
From Microinsurance in Burkina Faso
Burkina Faso, Africa – World Insurance Companies Logos
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