Insurance awareness is at 44per cent according to a nationwide survey undertaken in the last quarter of 2016. Of those that are aware of insurance, only 11per cent have in-depth knowledge.

Information on insurance was mainly accessed through TV and radio. Word of mouth also emerged as an important communication channel. Word of mouth is channeled through family, friends, colleagues and social media.

The omnibus survey, carried out by SBO Research on behalf of AKI, targeted 4,500 respondents above 18 years across the country. It aimed to determine the awareness levels and identify the main sources of information on insurance.