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Tue, 27 Feb 2018 12:19 - Updated Tue, 27 Feb 2018 12:19

Health insurance least profitable and with more risks

Luanda - The health insurance is the least profitable in Angola and of greater risks for insurance companies, due to the reality of the country?s medical care and hospital expenses, said actuary, Henda Mondlane.

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Interview with Ensa administrator, Henda Mondlane

Photo: Alberto Juliao

Speaking to ANGOP, the administrator of the National Insurance Company of Angola (ENSA),stated that the nature of the "Health Product", that is to say, because it is related to medical issues and due to the lack of family physicians and health centers that are able to respond to the great demand for services, make it very risky

Unlike health insurance, according to Henda Mondlane, auto and work injury insurance are the most profitable.

He explained that insurance profitability is measured by the claims ratio, which is the cost ratio of claims versus premiums collected.

He also said that a large part of the life insurance adherents are people who apply for housing and car loans in situations where the bank (creditor) requires the member to make life insurance as warranty.

Asked about the demand for life insurance in the Angolan market, he considered it to be very scarce, as people still make a wrong judgment, thinking to be costly.

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