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Parametric Insurance Instilling Sense of Security in Tonga

The introduction of parametric insurance in Tonga last year is already having a positive impact on the mindset of beneficiaries, as well as the country’s overall financial services ecosystem.

Some of the impacts were intended, while others have come as somewhat of a surprise. One intended consequence has come in the form of customers using parametric insurance to improve their creditworthiness and access loan products.