The Landscape of Microinsurance 2020
A total of 194 insurance providers in 27 countries in Africa, Asia and Latin America and the Caribbean participated in this study. Whereas previous landscape studies have attempted to cover all countries in a region, this study adopted a methodology which focuses on selected countries across three regions. While this study is based on data from 2019, it is clear that the trends explored in this report will be impacted by the COVID-19 pandemic.
Although the full effects are not yet known, early indications suggest that the pandemic is accelerating digitization and increasing customer awareness of risk, while also leaving some customers with unmet expectations and many insurers and distributors hard hit by the crisis.