Hollard's shared value strategy aims to integrate social impact into its core business strategy, allowing for both commercial success and contributions to societal challenges.

The company focuses on addressing significant systemic issues, prioritizing larger challenges over smaller ones to create impactful solutions.

Arshad Gardee, Managing Executive for Life at Hollard International, emphasizes the insurance industry's potential to drive socio-economic development in Africa by aligning growth with market needs.

Incorporating shared value principles is believed to drive sustainable economic growth by providing vulnerable communities with access to financial services, fostering resilience, and strengthening local economies.

He notes that Millennials and Gen Z consumers expect businesses to engage in social responsibility and address critical issues like climate change and inequality.

A recent report indicates that approximately 429 million Africans live in extreme poverty, defined as earning less than 2.15 US dollars per day.

Hollard aims to facilitate financial inclusion, promote environmental sustainability, and provide tailored insurance products for underserved communities, including agricultural insurance for smallholder farmers and microinsurance for unbanked individuals.

Gardee highlights the importance of integrating shared value into business models, particularly for companies targeting Africa's youth demographic, which comprises over 60% of the population under the age of 25.

Insurance companies are encouraged to leverage technology to enhance accessibility to insurance products, especially in remote areas.

Hollard is actively involved in the renewable energy sector, partnering with organizations like Renew Risk Africa to support non-fossil-based energy projects that address energy shortages and create jobs.

To promote shared value adoption across Africa, partnerships between insurance companies, governments, NGOs, and communities are essential.

Investing in training for shared value initiatives and supporting local entrepreneurs and businesses are crucial for insurance companies.