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In comparison to more established markets, Angola’s insurance sector is very modest, but it is expanding steadily. As a result of increased economic activity, the development of the nation’s infrastructure, and rising consumer awareness of insurance products, the insurance industry has been growing.
In comparison to economies that are more developed, Angola’s insurance penetration is still quite low. The advantages of insurance are still not widely understood in Angola, and many people consider insurance products to be overpriced.
The demand for construction and engineering insurance products has expanded as a result of the government’s initiatives to upgrade infrastructure, including roads, bridges, and housing.
The lack of insurance understanding in the populace, currency fluctuations, and the want for better regulatory frameworks are just a few of the difficulties the Angolan insurance business must overcome.
The Angola insurance market accounted for $XX Billion in 2022 and is anticipated to reach $XX Billion by 2030, registering a CAGR of XX% from 2023 to 2030.
Fidelidade Angola introduced the first entirely online auto insurance. The pillars of the insurer’s market strategy continue to be effectiveness, quality, and cost reduction.
In addition, the findings of a customer satisfaction survey done by the business are eye-opening: 88% of customers think this was a great experience, 82% think Auto Easy Online is a convenient method to sign up for car insurance, and 72% think the procedure is efficient.
The company’s goals, which still place it in the top three in the insurance market, are “customer satisfaction, the provision of services with and of quality, and proximity to the market.”These days, being close to clients also means giving them new resources, avenues of access, and ways to reach business in pace with global technological advancement.
The significance of the results obtained is based on the assumption that Fidelidade Angola will gain more market share and customer loyalty as a result of being a pioneer in this field, both in terms of selling this new insurance and in the satisfaction survey that was done among its customers.
