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New Swiss Re sigma study highlights the significance and potential of microinsurance

15 December 2010 Swiss Re

in supporting socio-economic development in emerging markets

Swiss Re’s latest sigma study “Microinsurance - risk protection for 4 billion people” emphasises the relevance of microinsurance as an effective and viable risk management solution for low-income individuals.

Microinsurance, which has the potential to cover up to 4 billion people, concentrates on few risks today, but its scope is broadening. The interest of insurers in microinsurance lies very much in its future potential.

Microinsurance refers to insurance products especially designed for low-income individuals. The premiums and coverage are kept at a low level in order to make the products affordable and attractive to those policy holders, yet remain commercially sustainable. Currently, the risks covered by microinsurance are heavily tilted towards credit life insurance, but the market could expand to cover areas such as health, agricultural insurance, term life insurance, affordable pension products and other savings products.

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