Insurance in developing countries: Exploring opportunities in microinsurance

The potential market for insurance in developing economies is estimated to be between 1.5 and 3 billion policies. There is significant demand for a range of insurance products from health and life, agricultural and property insurance, to catastrophe cover.

Produced by Lloyd's and the MicroInsurance Centre, this report sets out the understanding, mechanisms and partnerships needed to deliver insurance to three billion low income individuals across the globe, and how this will bring benefits to both the developing world and the insurance industry.

Microinsurance is not charity, it is business, but it will require insurers to change their mind-set. How do you sell insurance to someone who has never heard of the concept? How can you adjust claims in remote and inaccessible parts of developing countries, and most crucially, how can you make any money from a policy where the premium is just a few dollars a year?

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