14th IMC Report: Inclusive insurance for emerging markets

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Insurance is playing a key role in sustainable economic development. However, insurance penetration in most sub-Saharan countries remains at less than 2, or even 1 percent. Progress in the use and affordability of mobile technology, and the rise of mobile payment schemes, are boosting the outreach of financial services to hundreds of millions of low-income customers previously without access. However, the low level of interest shown by the insurance industry in the low-income insurance market as well as regulatory environments that often prohibit innovations remain major bottlenecks.

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Munich Re Foundation

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102

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