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. This focus note explores the state of microinsurance in South Africa and the factors that influenced the development of this market specifically considering the impact of policy, regulation and supervision.
- Microinsurance Network
Cenfri, Microinsurance Network