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.

GIZ Inclusive Insurance Factsheet Series

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The Inclusive Insurance Factsheet Series, developed by the GIZ Sector Programme “Global Initiative for Access to Insurance”, highlights how insurance as a tool contributes towards meeting the needs of vulnerable individuals, households and micro, small and medium-sized enterprises (MSMEs) in developing countries and emerging economies. It furthermore accentuates insurance’s role in helping achieve goals of the following development agendas: sustainable development and poverty alleviation, gender and women’s empowermen

The future of impact insurance

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The ILO’s Impact Insurance Facility is celebrating ten years of supporting the insurance industry to contribute to social and economic development. Over this period, the Facility have grown and evolved alongside the industry. Markets, products, players and technology have drastically changed during the past decade. Now it is time to scan the horizon and see what lies ahead.

Regulating for responsible data innovation: The role of insurance regulators in dealing with risks relating to consumer data protection and privacy

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Data innovation is challenging the traditional role of insurance regulators. Two major dilemmas emerge that insurance regulators and indeed all financial sector regulators face when confronted with how to regulate consumer data: 1. They must tread the balance to achieve positive consumer outcomes, by both enabling data-driven innovation but still protecting consumers from the risks that arise 2.

The State of Microinsurance 2018

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There are just 12 years remaining to achieve the UN Sustainable Development Goals (SDGs), and urgent action is needed if no-one is to be left behind. This report, and future editions, will focus on providing concrete examples of how inclusive insurance is contributing to the broad development agenda in a structured way that links directly to selected SDGs. It builds on work published by Microinsurance Network (MiN) members in the 2017 report Inclusive Insurance and the Sustainable Development Goals, and responds to the need to demonstrate how practice supports theory.

Spotlight on mobile-enabled microinsurance services

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In this deep-dive, we provide an overview of the mobile-enabled microinsurance industry, as part of our mission to support broader industry stakeholders to increase the utility and sustainability of mobile financial services.
 
Over the past few years, the growth of mobile-enabled microinsurance has offered cover to millions of previously uninsured people against unpredictable financial shocks and other debilitating life events.

Ten years of Impact Insurance

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The ILO's Impact Insurance Facility is celebrating its ten-year anniversary in 2018. Over the last ten years, we have grown with the industry. Despite a drastically changed environment, many products, technologies and players that took their first steps with us a decade ago are now well established, while other promising initiatives are just beginning. Together, we are proud of this decade-long journey to reclaim the important role of insurance as a vital contributor to social and economic development.

Make change happen: Getting insurance providers ready to better serve low-income households

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In order to serve low-income and emerging consumers effectively, insurance providers need to make significant changes to the way they do business. Changes can include finding cost-effective ways to understand the needs of a new market segment, reaching clients through different distribution channels, managing expenses to accommodate for lower margins per policy, and building systems to tackle large volumes of transactions.

Using Satellite Data to Scale Smallholder Agricultural Insurance

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Smallholder families that use agricultural insurance can increase investments in more productive farming and nonfarming ventures as they feel more confident in managing related risks. However, significantly scaling the use of agricultural insurance among smallholders has been difficult in many parts of the world, especially in Africa.
 
This paper looks beyond the excitement of the vast possibilities for satellite data applications to promote scale in smallholder agricultural insurance.

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