Seven Keys to Success for Mobile Microinsurance

Categories : Customer and Users of Digital Payments, Microfinance credit savings and insurance

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Author: Sarah Corley

This GSMA blog post summarises the key lessons from digital insurance around the world. While mobile insurance products hold the promise of scale, lower distribution costs, adjacent benefits for insurers and mobile operators, and act as first-level enablers of financial inclusion, thus far many initiatives have struggled to realise their full potential. They face challenges such as limited consumer experience with and understanding of insurance, complex and expensive products, lack of enabling regulation, complicated partnerships, and reliance on mobile money in places where it remains relatively underdeveloped.