The Landscape of Microinsurance 2024

The Landscape of Microinsurance 2024

The Landscape of Microinsurance 2024 analyzes the growth and evolution of microinsurance, highlighting its critical role in supporting vulnerable populations facing climate shocks, crises, and financial insecurity. It covers 344 million people across 37 countries, examines regulatory frameworks, distribution channels, and subsidies, and emphasizes the need to close the protection gap while fostering long-term market development.
Date Issued
2024
Topics
Inclusive insurance & financial inclusion
Microinsurance
Financial inclusion
Climate Risk
Disaster risk
Products
All types
Region
Worldwide

WFP Nicaragua – Insurance and Social Protection: A Key Tool to Increase Resilience and Food Security in Nicaragua

WFP Nicaragua implemented a risk-layered insurance approach through the R4 Rural Resilience Initiative and sovereign CCRIF coverage.
Date Issued
2023
Topics
Climate and disaster risk
Agriculture and agricultural insurance
Inclusive insurance & financial inclusion
Microinsurance
Climate resilience
Social protection
Nicaragua
World Food Programme (WFP)
InsuResilience
Products
Agriculture
Parametric / index-based
Multi-risk / bundled
Region
Latin America and the Caribbean

Social Finance Brief: Pacífico Seguros

Social Finance Brief on Pacífico Seguros in Peru, outlining their experience in delivering non-life (property) insurance solutions. The brief explores product innovation, operational models, and lessons learned through collaboration with ILO Impact Insurance and MiM, focused on strengthening financial resilience through non-agricultural property coverage.
Date Issued
2022
Topics
Inclusive insurance & financial inclusion
Distribution and access
Health insurance
Social finance innovation
Financial inclusion initaves
Impact insurance and sustainable investing
Products
Multi-risk / bundled
Life
Hospital Cash
Region
Latin America and the Caribbean

Social Finance Brief: MiCRO - The Microinsurance Catastrophe Risk Organization

Social Finance Brief on MiCRO, focusing on their approach to agricultural insurance in Latin America. Highlights innovative financial solutions tailored to vulnerable farming populations, operational strategies, and key implementation insights drawn from regional experience.
Date Issued
2022
Topics
Parametric and index-based insurance
Inclusive insurance & financial inclusion
Digitalization and technology
Social finance innovation
Financial inclusion initaves
Impact insurance and sustainable investing
Products
Parametric / index-based
Agriculture
MSME
Region
Latin America and the Caribbean
Regional

Rashtriya Swasthya Bima Yojana (RSBY) – India

India's national public health insurance scheme for the poor, offering smart card–enabled, cashless hospitalization to over 37 million low-income families. This flagship initiative aims to enhance access to healthcare and financial protection for the most vulnerable populations across the country.
Date Issued
2015
Topics
Health insurance
Inclusive insurance & financial inclusion
Government Subsidy
India
health
public policy
Products
Health
Social protection / public schemes
Embedded / digital / on-demand
Region
Asia
India

Promoting access to insurance for people with disabilities and small and micro entrepreneurs – The case of El Salvador

In El Salvador, most small farmers and micro-entrepreneurs face frequent economic and climate shocks without adequate insurance. To bridge this gap, the World Food Programme and local partners are piloting an innovative insurance solution covering over 950 farmers and micro-entrepreneurs (46% women) against business interruption caused by excess rainfall, drought, or earthquakes.
Date Issued
2021
Topics
Climate and disaster risk
Inclusive insurance & financial inclusion
Capacity building and training
Inclusive insurance
Disability
Disaster Resilience
El Salvador
Products
Parametric / index-based
MSME
Agriculture
Region
Latin America and the Caribbean
El Salvador

MALAYAN INSURANCE, PHILIPPINES - The case for insuring women for a better tomorrow

This World Bank report analyzes how Philippine insurers adapted to COVID-19 and how their inclusive insurance models helped maintain resilience for over 38 million microinsurance policyholders. The study highlights product innovations, digital transformation, and lessons for future crisis response through inclusive insurance strategies.
Date Issued
2020
Topics
Gender and women's inclusion
Inclusive insurance & financial inclusion
Non-life insurance
Philippines
COVID
Resilience
Products
Personal Accident
Motor
Property and assets (non-agriculture)
Region
Asia

OKO for UN WOMEN & UNCDF: Case study

An index-based crop insurance product tailored specifically for women smallholder farmers in Mali. This inclusive approach improves gender equity and strengthens financial protection for rural women by providing climate-resilient risk coverage. The model aims to address both agricultural vulnerability and structural gender gaps in access to insurance.
Date Issued
2022
Topics
Gender and women's inclusion
Inclusive insurance & financial inclusion
Digitalization and technology
Gender
Climate
Mali
Products
Embedded / digital / on-demand
Agriculture
Parametric / index-based
Region
Africa
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