The co-investment represents IFC's first investment in the insurance brokerage sector and reflects IFC's interest in increasing insurance penetration for Mexican companies alongside a leading player in the market.
IFC and PasarPolis Partner Amid Pandemic to Boost Microinsurance Safety Nets for Indonesia’s Most Vulnerable
Under an agreement, IFC will provide PasarPolis with $5 million in equity finance to develop infrastructure to connect insurers, digital platforms and customers unserved by the traditional insurance sector.
Under the agreement, IFC will help AIA Sri Lanka develop a women's insurance program strategy and suitable products for Sri Lankan women.
The pandemic highlights the crucial role of insurance as a safety net when people lose their jobs or are unable to get to work, when bread-winners get sick or die, or when small businesses are forced to shut.
The events that have unfolded have brought to the fore the need to provide some sort of a social security net for millions of toiling masses.
In response to COVID-19, the new SCBF product upscaling project supports a local insurtech company to implement a first-of-its-kind e-health value added service product with two core features: e-health tele-consultation bundled with COVID-19 insurance.
COVID-19 has brought to the forefront the potential for microinsurance in the Bangladesh market, where over 30 percent live below the national poverty line and insurance penetration is extremely low.