Micro, small, and medium enterprises (MSMEs) are vital drivers of economic growth, contributing significantly to innovation and accounting for nearly 80% of global employment on average (World Bank, 2019). However, MSMEs face a wide range of risks that make it challenging for them to operate and grow, especially in comparison to larger businesses. Insurance providers play a crucial role in enabling MSMEs to manage these risks effectively, yet this segment remains largely underserved.
To address this...