As the appetite of women worldwide for risk mitigation offerings continues to grow, a strong business case hasemerged for insurance companies and banks to deliver tailored insurance solutions to the Women’s Market.Understanding the financial needs of their Women’s Market customers, several Global Banking Alliance for Women(GBA) members are already integrating insurance solutions as part of their holistic value propositions for women. ThisInBrief explores the experiences of 12 GBA members and partners who participated in the GBA Women’s Market forInsurance Working Group to size the business opportunity and share best practices over an eight-month period in 2017.The MicroInsurance Centre at Milliman provided expertise and facilitated the Working Group.
Press Release (October 11, 2017) announcing the MicroInsurance Centre joining Milliman, Inc. Download the press release here to learn more.
This publication provides an overview of the key highlights and achievements of the Microinsurance Network in 2014, and provides a brief introduction on the main future initiatives.
Around 50 members of the Microinsurance Network ranging from insurers, regulators, researchers and donor organisations gathered for two days in the context of the 6th Microinsurance Network’s member meeting to discuss current trends, emerging practices and new products in the microinsurance sector. This document presents the notes and main take-away messages from this meeting.
The microinsurance sector has grown from 78 million policies in 2007 to 500 million in 2012 and the exponential growth is expected to continue, since the potential market is estimated at 3 4 billion policies. However, for every scheme that has succeeded, many more have struggled to reach scale, become viable or provide client value, and some have failed altogether. No one really wants to talk about these failures, even though analysing them is as useful if not more as examining successes. Many innovations have resulted from efforts to convert near-misses to successes. This paper draws on the experience of 12 such attempts. Just like the broader industry experience, some of these succeeded, while others failed altogether. By examining their struggles, the paper strives to identify the most common challenges that are likely to cause severe disruptions or failure, if left unaddressed. They are organized into five clusters: Viability, Client Value, Operations, Partnerships and External.
This resource guide provides information on how the United States Agency for International Development (USAID) sectors, missions, and staff can integrate child, early, and forced marriage (CEFM) prevention and response into their programming. The guide provides both the rationale of why and approaches to how USAID’s efforts can address CEFM.
This report is the first of its kind to provide an understanding of how much growth the women’s market alone represents for the insurance industry, and what women want and need from insurance products and services in particular in emerging markets. It also provides recommendations on how to attract and retain women as vital clients.
This document contains the presentation slides used for this Expert Forum which took place on 28 April, 2016.
The Proportionality in Practice case studies are intended to provide practical examples and generate lessons from the implementation experience of other supervisors who have implemented or begun the process of implementing proportionate regulations towards increasing access to insurance. This paper looks at proportionality in regulations relating to the disclosure of information to the customer by drawing on the experiences of Brazil, Pakistan, Peru and El Salvador.
This conference report provides an overview of the 'Microinsurance: International Experiences and Egyptian Applications' event which took place 7 - 8 May, 2017 in Cairo, Egypt. The report summarizes and provides key takeaways from the four sessions that took place on Day 1 and the microinsurance product development workshop which took place on Day 2 of the event.
In September of 2015, the United Nations adopted a new framework for development, the 2030 Agenda for Sustainable Development, replacing the Millennium Development Goals (MDGs) with the Sustainable Development Goals (SDGs). This paper provides an overview of the contribution of insurance to specific SDGs and their targets, using all 17 SDGs as the basis of the assessment. These were examined to identify which goals could significantly benefit from insurance as a risk protection mechanism to support their achievement.
Emerging markets have been a major driver of global insurance premium growthover the last two decades. In 2016, emerging markets accounted for 20% ofglobal premiums, up from 5% two decades ago. Nevertheless, many individualsand enterprises in emerging markets remain under- or uninsured, and thereforeunprotected against external shocks arising from illnesses, natural disasters andaccidents. These shocks can have lasting negative consequences for both economicgrowth and human development.
This year’s third edition of The State of Microinsurance brings together members and other thought leaders in this space to share their knowledge, identify hurdles and provide solutions on how we can leverage the potential of microinsurance to mitigate climate change.
This edition progresses the conversation beyond risk transfer and product design, to a broader focus on integrated risk management and how countries can better prepare and respond to climate-related risks. This acknowledges a shift taking placing within the Network with members increasingly focusing on the broader impact of risk on development
While the topic of insurance literacy is rapidly gaining importance, there is a lot of potential yet to be explored. This mapping gathers and analyses relevant experiences available within the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ, German International Cooperation). It aims to provide guidance and examples for the practitioners of insurance literacy. GIZ implements relevant projects in developing countries and emerging economies together with local partners.
Informe Anual 2016 del Programa Impact Insurance de la Organización Internacional del Trabajo.
This is a Press Release announcing the MicroInsurance Centre's official contract with the International Fund for Agricultural Development (IFAD) for the project titled 'Managing risks for rural development: promoting microinsurance innovations'. This four-year agreement was signed on 7 April 2017 and will cover activities in China, the Republic of Georgia, and Ethiopia.
This publication from Allianz SE reports on the company's Emerging Consumer initiatives and products for the year 2016.
“Mainstreaming Gender and Targeting Women in Inclusive Insurance: Perspectives and Emerging Lessons - A Compendium of Technical Notes and Case Studies” was prepared for the G20 Global Partnership for Financial Inclusion (GPFI) by the IFC Gender Secretariat, Finance & Markets, and the Financial Institutions Group, GIZ’s Sector Initiatives Social Protection and Global Initiative for Access to Insurance on behalf of the German Federal Ministry for Economic Cooperation and Development (BMZ) and Women’s World Banking, in collaboration with the Access to Insurance Initiative and the Self-Employed Women’s Association.
This compendium identifies the potential entry points for gender-sensitive insurance approaches and proposes ways for implementing those more effectively. It is hoped that all stakeholders draw on these recommendations to further promote women’s access to inclusive insurance towards the wider goals of financial inclusion and sustainable development.
ILO's Impact Insurance Facility 2016 Annual Report.
"Poverty alleviation benefits are magnified when microloans are supplemented with savings and insurance products." -- Mary Ellen Iskenderian | Women's World Banking
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