Date post: | 22-May-2015 |
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Technology |
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MICROINSURANCE TRENDS AND ISSUES
MICHAEL J. MCCORDMICROINSURANCE CENTRE
19 NOVEMBER 2013
2
Total lives covered in 2005, 2008, and 2011
2008 (14.7MM)(6.5MM ex. SA)
2011 (44.4MM)
(17.2MM ex. SA)
Number of lives/properties covered
2005(3.5MM not SA)
Growth drivers:- Commercial
sector- Technology- Competition
- Donors
Growth in LAC
20112005
Growth drivers:- Commercial
sector- Alternative
distribution- Competition
- “Mass” market
Starting from Credit-linked Simple Products to…
Better benefits/features
More than Life Products
More insureds… new target segments• Through new
distribution channels
• Through new tech solutions
Evolution
VA
LUE -
Fin
an
cin
g s
ou
rces
INSURED UNINSURED0
500
1000
1500
2000
2500
Reduced consumption
Gifts
Other Loans
Income
Savings/Assets
USD
Trends in microinsurance
• Value for clients• Growth•Mobile technology• Regulations• Commercial insurer flexibility• Distribution
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The MicroInsurance Centre“Developing partnerships to insure the world’s poor”
www.MicroInsuranceCentre.org