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Case brief: FASECOLDA

Case brief: FASECOLDA. This entry presents the activities led by the Federation of Colombian Insurers (Fasecolda) to strengthen inclusive insurance in Colombia. It covers efforts in financial education, technical training, regulatory engagement, and the promotion of innovative products for underserved segments. The case demonstrates how institutional leadership and coordinated action have advanced capacity building and inclusion in the Colombian insurance sector.

MiCRO / SBS / Bancamía – Boosting Resilience for Microentrepreneurs

In 2019, MiCRO and SBS Seguros, in partnership with Bancamía, launched "My Protected Investment", a microinsurance product for SMEs that combines index-based and traditional coverage. Three years after Colombia's first parametric insurance launch, the initiative had already reached almost 120,000 low-income beneficiaries, providing protection against hazards such as excess rain, drought, and earthquakes, while expanding access to underserved urban and rural clients.
Cover of the presentation

National strategy on insurance financial inclusion in Colombia

National strategy on insurance financial inclusion in Colombia. Information on the insurance sector in Colombia in 2020, inclusive insurance premiums written, financial inclusion institutional framework, public-private actions and lessons learned/challenges, market research and study.
Publisher
Munich RE Foundation
Date Issued
2021
Products

Segurísimo, developing inclusive insurance in Colombia

SEGURÍSIMO is a low-cost, easy-to-claim modular insurance product designed to serve vulnerable and traditionally excluded populations in rural areas. It offers coverage for both the policyholder and the beneficiary, emphasizing accessibility and inclusivity. The product's modular design allows flexibility in tailoring benefits, and its streamlined claims process helps reduce barriers to access. This case reflects an impactful initiative in Colombia aimed at enhancing social protection for underserved groups.

Skyline Partners: Protecting Jamaican Credit Unions from Tropical Cyclones with FatTrack™ Parametric Insurance: Timely Payouts During Hurricane Beryl

The document presents a case study on Skyline Partners' FatTrack™ parametric insurance solution, designed to protect Jamaican Co-operative Credit Unions (JCCUL) from financial risks associated with major hurricanes. Utilizing independently reported wind field data, the solution offers precise and timely payouts, as demonstrated during Hurricane Beryl.