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The Emerging Global Landscape of Mobile Microinsurance

Since 2012, there has been a rapid increase in the number of mobile microinsurance (MMI) products. The use of relatively low-cost mobile channels in microinsurance offers the potential to reach poorer and more remote clients, which in turn could reshape the microinsurance footprint and contribute to financial inclusion. In addition, many mobile network operators (MNOs) see MMI as another source of customer loyalty and appear to be pursuing a role beyond simply providing the delivery channel, partly with the help of specialized microinsurance business-to-business (B2B) service providers that are rapidly growing into a new niche. This Brief describes CGAP’s initial supply-side scan of this emerging trend, which identified 84 products offered through 74 deployments. It analyzes the different provider models and explores the role played by mobile channels to date, with a view to providing an initial basis for understanding these developments.

CGAP is a global partnership of more than 30 leading development organizations that works to advance the lives of poor people through financial inclusion. Using action-oriented research, we test, learn and share knowledge intended to help build inclusive and responsible financial systems that move people out of poverty, protect their economic gains and advance broader development goals. We research and experiment to achieve proof of concept and extract lessons that can be built to scale by our partners, who apply our insights in the marketplace.

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