This preliminary briefing note summarises some of the key insights and trends from the 2014 Landscape of Microinsurance in Latin America and the Caribbean study which will be published in the first quarter of 2015.
This year’s landscape study identified 48.6 million people in the Latin America and Caribbean region as covered by at least one microinsurance policy, versus 45.5 million people identified in 2011. The study identified 6.8% more lives covered than in 2011. However, the comparable rate of growth for institutions who reported data in both studies is more modest at 2%. The “microinsurance explosion” observed for the period 2005 to 2011 (with 14% compound annual growth rates) has been replaced by a slower growth phase with continued dominance of life and accident products.
- Microinsurance Network