PRESS RELEASE: International Conference on Inclusive Insurance 2025: Key Takeaways

Quito, Ecuador, 17 October 2025: The International Conference on Inclusive Insurance 2025 (ICII 2025) – hosted by the Federación Ecuatoriana de Empresas de Seguros (FEDESEG), Junta de Política y Regulación Financiera (JPRF), and Superintendencia de Compañías, Valores y Seguros, in cooperation with the Munich Re Foundation and the Microinsurance Network – took place from 13-17 October in Quito, Ecuador.

The event gathered around 400 insurance and development experts from 47 countries for four days of exchanging insights, strengthening partnerships, and advancing inclusive insurance worldwide.

During the event, the Microinsurance Network presented its Landscape of Microinsurance study and its latest Regional Report on Latin America and the Caribbean, covering 11 countries across Latin America and the Caribbean and compiling data from 80 insurance companies that reported 345 products. Altogether, these products cover 37.3 million people, representing about USD 832 million in gross premiums. However, this still represents only 7% of the total population across the 11 countries, highlighting the significant protection gap that remains. The potential market is estimated at 406 million people, with a total value of USD 16.9 billion. The conference also saw the launch of an interactive Data Hub showcasing Landscape data and a Resource Hub featuring reports, case studies, and practical tools – both freely accessible to all here.

Discussions throughout the conference focused on solutions, highlighting that innovation and collaboration are key to addressing the region’s low insurance coverage. Across Latin America, new parametric pilots, gender-responsive programmes, and climate-risk insurance products are emerging as practical ways to extend protection to farmers, MSMEs, and vulnerable communities. Participants emphasised that simplifying products, accelerating claims, and leveraging digital platforms are essential to making coverage both accessible and sustainable.

Underscoring the importance of the ICII as a catalyst for inclusive insurance, five guiding principles for Ecuador were jointly declared following a high-level meeting between Ecuadorian public institutions, private companies, and multilateral organisations, to define the next steps toward implementing inclusive insurance in the country.

Accessibility. Ecuador seeks to close the protection gap by ensuring affordable and simple insurance for low-income and rural populations. Tailored products, subsidies, and community partnerships will make insurance reachable for everyone. Prioritising equity ensures that the agenda does not leave the most vulnerable behind, aligning with Sustainable Development Goals (SDGs).
Financial Education. Low financial literacy limits insurance use. National education programs, local workshops, and media campaigns will help citizens understand insurance as a tool for financial stability and resilience.
Technology and Innovation. Digital platforms, mobile payments, and AI-based tools will expand access to insurance, especially in remote areas. Partnerships with fintech and cooperatives will enable modern, affordable products tailored to local needs.
Public-Private Collaboration. Government, private sector, and civil society will work together to design inclusive insurance policies, attract investment, and share data. These alliances will build a stronger, more resilient national insurance system.
Sustainability and Risk Management. Inclusive insurance will help Ecuador face climate and disaster risks. “Green insurance” and sustainable investments will encourage preventive measures and align with global climate and resilience goals.

ICII 2025 discussions emphasised the importance of inclusive insurance not only in Latin America, but globally. The exchanges reaffirmed that inclusive insurance is not a regional initiative, but a worldwide movement toward greater equity and financial resilience.

At the closing ceremony, Steven Biganiro, Director General of Capital Markets and Investment Schemes, Ministry of Finance and Economic Planning (MINECOFIN), Rwanda, described ICII 2025 as an eye opening experience and a wake-up call, emphasising financial resilience as a universal right for all and inviting the audience to Kigali, Rwanda, for ICII 2026, taking place from 19-23 October 2026. The next year’s conference will be hosted by the Ministry of Finance and Economic Planning (MINECOFIN), the National Bank of Rwanda (NBR), Access to Finance Rwanda (AFR), Rwanda Insurers Association (ASSAR), and Rwanda Insurance Brokers Association (RIBA) in cooperation with Munich Re Foundation and the Microinsurance Network.

Dirk Reinhard, Vice Chair of the Munich Re Foundation and Chairman of the Steering Committee of the ICII 2025:

We cannot emphasise enough how important it is to close the insurance gap for sustainable economic development. The ICII 2025 once again demonstrated its role as the global inclusive insurance hub, with insurance and development experts from 47 countries gathering in Quito. Ecuador is making great progress, and the declaration of inclusive insurance principles for the local market resulting from the ICII 2025 demonstrates the impact of this annual event.

Patricio Salas, Executive Secretary of FEDESEG:

This has been a valuable space to learn, plan, and prepare for action. Today, we take an important step with the agreement and symbolic signing of the five guiding principles for inclusive insurance in Ecuador – a commitment that reflects our collective will to build a more accessible, empathetic, and supportive market. We have strengthened an ecosystem that brings together the public sector, private sector, and civil society around a common purpose: to promote more inclusive insurance that protects all people. The commitments we have made inspire us to continue working together, with determination, to close the protection gap and contribute to the well-being and development of our society.

Lorenzo Chan, Chair of the Board of the Microinsurance Network (MiN) and President and CEO of Pioneer Inc:

It is vital that people who have made or are making economic progress be protected against the need to start all over again each time a loss occurs. Accessible, affordable insurance cushions the blow and helps absorb the shock. This is what inclusion is about. This is the impact it can have and the empowerment it can bring.

Steven Biganiro, Director General of Capital Markets and Investment Schemes, Ministry of Finance and Economic Planning (MINECOFIN):

The ICII 2025 reinforced the importance of a collective action in shaping a more inclusive global insurance landscape that empowers vulnerable communities, strengthens resilience against shocks, and ensures that every individual, regardless of income, can face the future with greater confidence and security.

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Notes to Editors:

Munich Re Foundation

The Munich Re Foundation was set up as a non-profit organisation in 2005. At the heart of our Foundation is Munich Re’s commitment to act responsibly and share knowledge. Based in Munich, our activities span the globe, primarily in emerging and developing countries. We tackle pressing global challenges and develop solutions for people at risk. At the core of our Foundation lies a responsibility to enhance the well-being of communities through a deep understanding and adept management of risks. It’s not just about mitigating threats – it’s also about utilising the wealth of knowledge within Munich Re for the benefit of society. We concentrate on climate risk and adaptation, climate change mitigation and inclusive insurance which complements Munich Re’s sustainability agenda.

The Microinsurance Network

The Microinsurance Network is the global multi-stakeholder platform for professionals and organisations that are committed to making insurance inclusive. Membership-based, we bring together diverse stakeholders from across the value chain who share our vision of a world where people of all income levels are more resilient and less vulnerable to daily and catastrophic risks. We encourage peer-to-peer exchange and learning, facilitate the generation of knowledge and research, and act as advocates, promoting the role that effective risk management tools, including insurance, play in supporting the broader development agenda.

Media Contacts:

Dirk Reinhard

Munich Re Foundation

dreinhard@munichre-foundation.org

+49 160 704 6016

Aiste Vysniauskaite

Microinsurance Network

avysniauskaite@microinsurancenetwork.org

+352 621173833