Case Brief: Fasecolda

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Colombia has become a regional benchmark in the inclusive insurance industry. It hosted the first international InsurTech seminar, it is recognised for being one of the first countries to collect statistical data on inclusive insurance, and it has an environment that is conducive to the development and commercialisation of innovative products.

The microinsurance market in Colombia, in Microinsurance: What do we know?

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Today, regulatory supervisors, governments, public and private donors, and stakeholders in the insurance market are committed to improving access to insurance products. New legislation on microinsurance, sound policies conducive to the development of insurance markets, and the growing activity of traditional insurance and reinsurance companies in this field are clear signals in this direction.

Protecting what our clients build: Microinsurance as the next step

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This interview with Jose Luis Agüela Palmieri, ACCION Resident Advisor to ParaLife, a Colombia-based organization with the mission of providing financial security to the disabled and the vulnerable entrepreneurial poor through microinsurance, discusses whether or not microinsurance can really protect the poor from devastating losses such as natural disasters, and theft.

Making insurance markets work for the poor: The case of Colombia

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Access to insurance may be an important strategy for reducing poverty. Financial markets, and particularly insurance services, can help poor people manage critical risks such as death in the family, illness, or loss of income or property. Despite the growing importance and expansion of microinsurance services geared to low-income people, microinsurance penetration remains limited, leaving the vast majority of poor people without adequate protection.


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