Between 2023 and 2024, the number of people covered by microinsurance products grew from 331 million to 344 million. While this points to continued growth of inclusive insurance, it also means microinsurance providers may face higher risk exposure. This is complemented by a growing incidence of frequent and severe natural disasters, which may affect microinsurance products’ pricing. Local underwriters may either be unable or unwilling to take on risks that they cannot price or are...