The Microinsurance Network, InFine.lu Member, has published its latest edition of The Landscape of Microinsurance.
According to Katharine Pulvermacher, Microinsurance Network Executive Director “The results of the study indicate that, in the countries covered, more than 90 percent of emerging consumers still lack insurance protection for any kind of risk. Covid has a disproportionate impact on low-income people, as does climate change.”
The Landscape of Microinsurance 2020 reveals that although digitalisation is essential for reaching underserved clients at scale, face-to-face contact through agents, brokers, financial institutions and microfinance institutions (MFIs) remains crucial for microinsurance distribution. The study also highlights concerns about customer value, finding that low average claim ratios and long claim turnaround times undermine trust and hinder uptake. Insurers and their distribution partners must place greater emphasis on customer-centricity to achieve both value and scale.
To read the Landscape of Microinsurance 2020 in English, French or Spanish click here
Source: Microinsurance Network
InFiNe is the Luxembourg platform that brings together public, private and civil society actors involved in inclusive finance. The value of InFiNe lies in the wide range of expertise characterised by the diversity of its members.
With the support of
Inclusive Finance Network Luxembourg
39, rue Glesener
L-1631 Luxembourg
G.-D. de Luxembourg
Tel: +352 28 37 15 09
R.C.S. : F 9956
Legal notice
Privacy notice
Picture 1 © Pallab Seth