to identify barriers to insurance adoption. The research highlighted that lowincome households perceived traditional insurance products as expensive and complex, with unclear claims processes.
Outcome: Based on these findings, Britam introduced microinsurance products with low premiums, simple onboarding processes, and accessible claims mechanisms. These products, including life and funeral insurance, significantly increased Britam ' s customer base among underserved communities and positioned the company as a pioneer in financial inclusion through microinsurance.
Banking: Ecobank
Case: Ecobank’ s Digital Banking Enhancement
Ecobank conducted surveys and focus groups across its 33 African markets to understand customer needs, particularly in rural and underbanked regions. The research revealed key barriers to financial access, including distance to branches, lack of trust in digital platforms, and a demand for simple, mobile-first solutions.
Outcome: The insights drove the development of the Ecobank Mobile App and Xpress Account, which provided accessible, secure, and user-friendly digital banking services. As a result, Ecobank significantly increased financial inclusion, boosted digital transaction volumes by 60 %, and solidified its position as a digital banking leader in Africa.
Jubilee Insurance: Leveraging Customer Insights for Product Customization
Case: Developing Tailored Health Insurance Solutions
Jubilee Insurance conducted focus groups and surveys across East Africa to understand customer needs in health insurance. The research revealed that customers wanted flexible health policies that included outpatient services, affordable family plans, and coverage for chronic illnesses.
Outcome: The insights led to the development of Jubilee ' s“ Medical Insurance Plans,” offering modular policies that allowed customers to select only the benefits they needed. This approach improved customer satisfaction and boosted policy uptake, especially among middle-income families seeking affordable yet comprehensive coverage.
These examples showcase how primary market research enables banking and insurance companies to understand customer needs, innovate effectively, and maintain a competitive edge in dynamic markets.
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Despite its benefits, primary market research comes with challenges that businesses must navigate:
• Cost and Time: Conducting primary research can be resource-intensive. Organizations can address this by outsourcing to specialized agencies or leveraging digital tools to streamline data collection.
• Sample Bias: Ensuring a diverse and representative sample is critical to avoid skewed insights. Businesses should employ random sampling techniques and ensure inclusivity in respondent selection.
• Integration with Secondary Data: Primary research is most impactful when combined with other data sources. Integrating primary insights with transactional or behavioral data creates a comprehensive view of market dynamics.
Conclusion
Primary market research data is indispensable in crafting data-driven strategies that enable businesses to thrive in today’ s dynamic environment. By providing firsthand, actionable insights, primary research empowers organizations to understand customers deeply, anticipate market changes, and innovate confidently. From enhancing customer experience to validating new products and refining marketing campaigns, the role of primary research is as diverse as it is impactful.
Companies that prioritize primary research as part of their data strategy, demonstrate how leveraging original data can unlock competitive advantages and drive sustainable growth. As markets continue to evolve, businesses that invest in understanding their audiences through primary research will remain agile, relevant, and resilient.
Dr. Catherine Ngahu is the founder and Chairman of SBO Research, a company with a service footprint in 26 countries in Africa. She can be reached at: CNgahu @ sboresearch. co. ke; Search for‘ Catherine Ngahu’ to follow her on You Tube.