Ms Prisca Soares, Secretary General of Africa Insurers Association (AIO) has listed untapped and new areas in the insurance industry to include, SMEs, personal lines, agricultural insurance, funeral, as well as micro insurance.

Soares who stated this at the 2011 insurance educational conference recently noted that other areas of growth for the sector are in the compulsory insurances which include insurance of public buildings as well as buildings in course of erection.

She charged insurance operators to improve communications network through reaching the grassroots, reaching out through communication networks and foot soldiers as well as cross-border trading which entails investing abroad or acquisition of foreign companies.

Soares noted that healthy competition is possible and desirable; stating that competition should not be on rating alone rather service, products and track record should be key elements of competition.