The Landscape of Microinsurance
Categories : Customer and Users of Digital Payments, Microfinance credit savings and insurance
Author: Nqobile Khumalo
Between 179 and 377 million people were recorded as covered by a microinsurance product in the 30 countries covered by the Landscape of Microinsurance 2021. This is estimated to represent between 6% and 14% of the target population of the countries studied. These figures represent a considerable increase from the previous year’s study, in which between 162 and 253 million people were reached across 28 countries, representing between 6% and 10% of the target population. The increase stems mainly from the inclusion of data on additional countries, as well as an improved response rate.
The Landscape of Microinsurance Study 2021 presents information on microinsurance markets in three regions: Africa, Asia, and Latin America and the Caribbean (LAC). Whereas Landscape Studies before 2018 attempted to cover all countries in a region, the methodology adopted since, focuses on selected countries across all three regions, with annual follow-up to support market development.