InsurTech for development: A review of insurance technologies and applications in Africa, Asia and Latin America

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The Cenfri research study, InsurTech for development: A review of insurance technologies and applications in Africa, Asia and Latin America, delves into how digital technologies and business approaches are starting to change the nature of insurance delivery, to ensure a more widespread, cost-effective reach with increased customer valu

The State of Microinsurance 2017

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The State of Microinsurance is the Microinsurance Network's annual journal providing insurance industry, experts and practitioners operating in the inclusive insurance space with key insights on the latest developments in microinsurance. The 2017 edition takes a closer look at microinsurance solutions for climate change, focussing on pioneering ideas in the way microinsurance is being designed and offered, and highlighting key lessons learned from a range of different programmes and initiatives.

9th Consultative Forum Briefing Note: Exploring challenges in scaling up insurance as a disaster resilience strategy for smallholder farmers

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The 9th Consultative Forum which took place in Singapore on March 14, 2017 brought together high-ranking representatives from the public sector, supervisory authorities and the insurance industry to discuss “Exploring challenges in scaling up insurance as a disaster resilience strategy for smallholder farmers”.
 
This Forum Briefing Note provides a summary of the key takeaways from the event and outlines recommendations for action for the industry and regulators.

Seminar on Risk Protection Mechanisms for SMEs to Strengthen Inclusive Insurance in Mongolia

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The insurance industry in Mongolia is currently small and still in its development stage. The share of the insurance industry is 0.7% of the whole financial sector. Despite the growth of the insurance sector and recent global awareness on financial inclusion, the insurance market in Mongolia can hardly be considered inclusive at this time. Small companies generate around 20% of Mongolia’s GDP and provide employment of 70% of the national workforce. There are challenges in insurance sector such as the lack of effective distribution channels to reach SMEs.

Multi-Stakeholder Dialogue on Microinsurance

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The Pakistan economy expanded by 4.24% in the fiscal year 2014-15. Growth came from all sectors including agriculture, industry and services. One of the major tax sources is its industrial sector which produces 20.30% of the national GDP. Most low-income people in Pakistan, those working in the agriculture sector, as well as in textile and clothing are exposed to a number of life risk events. Specific MI products can manage the negative impact of unexpected incidents.

The Philippine Approach to Inclusive Insurance Market Development

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The presentation of this case study is structured according to three regimes of microinsurance policy and regulatory reforms in the Philippines during a span of 9 years (2006-2015). The first regime refers to milestone regulations that happened beginning 2006, the second regime refers to regulations issued starting in 2010, and the third regime describes the most recent milestone regulations in 2015.
The study also offers a background of the Philippines, an overview of financial landscape including insurance and microinsurance, conclusions and lessons.

Focus Group Discussion to Determine the Risks Faced in ger Areas in Mongolia and Provide Recommendations to Insurance Regulator and Companies

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As of 2008, 154,644 families had been living in Ulaanbaatar ger area. This number had reached to 197,094 by 2013. In terms of socioeconomic status, ger area families tend to be larger, less educated, younger and poorer than apartment area households. Life pattern and living environment of ger area bring particular risks. For that reason, risk protection is needed to ger area residents because of their financial vulnerability. It is important to make ger area residents understand the benefits of insurance to protect them.

 

Delivering Microinsurance in the Philippines

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Low-income people are highly vulnerable to risks, especially health problems, the destruction of their houses, assets, harvest or livestock due to natural catastrophes or to losing the breadwinner of the family in an accident. However, the option of purchasing an insurance policy to become capable of dealing with financial shocks remains ineffective due to the lack of access to affordable and responsive insurance.

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