The GIIF Program hosted a knowledge exchange session at the 2022 International Conference on Inclusive Insurance, held in Jamaica between 24-28 October 2022. The International Conference, hosted by the Munich Re Foundation, the Microinsurance Network and the Insurance Association of Jamaica, was attended by over 400 experts from 50+ countries. The objective was to offer a platform to discuss and identify ways of accelerating growth and economic viability in inclusive insurance for emerging markets. In this conference, the GIIF program hosted a session on agriculture index insurance focusing on

With a population of 211 million(1) and a low insurance penetration of less than 1%(2) , Nigeria represents one of Africa’s most important insurance markets. Despite this potential, the market’s growth is constrained by a lack of suitable products, cumbersome claims’ processes and unsuitable premium collection methods, limited awareness among consumers, lack of trust in insurance and low purchasing power. Market actors are innovating to surmount these challenges and reach the underserved through insurtech: to fast-track customer acquisition, enhance insurance awareness and scale last mile

Smallholder farmers hold the key to feeding Africa’s rising population. However, increasing risks from climate change-related crises threaten their ability to do so as these risks affect both agricultural productivity and food security. Though insurance can increase their resilience, few farmers have access to agricultural insurance. With overall insurance penetration at 2.78%(1) in Africa, and especially low agricultural insurance uptake, there is need to broaden the toolkit for smallholders to increase their resilience. To contribute to the efforts in increasing access to agricultural

Kenya, dubbed, Africa’s “Silicon Savannah” is leading the charge in technological innovations in financial inclusion. It is among the continent’s leaders in insurtech innovations. Could the widespread use of mobile money, coupled with a supportive regulatory environment spur the development of inclusive insurance for the underserved? These were among the questions that more than 60 insurance stakeholders recently addressed during the First Insurance Development Forum (IDF) -Microinsurance Network (MIN) Country Workshop on Inclusive Insurance in Kenya during September 28 and 29, 2022. Kenya is

Why was Kenya chosen as a focal country by the iDF Inclusive Insurance Working Group? According to Pedro Pinheiro the Insurance Development Forum’s (iDF) Inclusive Insurance Working Group (IIWG) has selected 21 focus countries through a rigorous process that aimed at ensuring diversity and took into consideration political will and stability; legal and regulatory environment; development of the insurance market; the presence and interest of the IIWG members, among other criteria. Out of those 21 countries, four priority countries (Mexico, Kenya, Indonesia and the Philippines) were chosen for

The Asosiasi Asuransi Umum Indonesia, the General Insurance Association of Indonesia, brought together regulators, practitioners, local and international (re)insurance companies at the 26 th Indonesia Rendezvous conference held in Indonesia between 12-15 October. The theme of this year's gathering ‘Toward Sustainable Future and Inclusive Growth’ is in line with the main theme of G20 Presidency of Indonesia ‘Recover Together, Recover Stronger.’ The G20 Presidency theme is a reflection of the pressure the world has been under due to the COVID-19 pandemic, and it emphasizes the importance of