Only 4.33% of Asian population covered by microinsurance

According to the study conducted by “World Map of Microinsurance”, only 4.33% of the people living in Asia and in Oceania benefit from the advantages of microinsurance, a figure well below that of other areas around the world.

In Latin America and the Caribbean, the penetration of these insurance products has attained 7.89%, while in Africa it amounts to 4.44%. In terms of the number of beneficiaries, Asia and Oceania are largely ahead with 170.4 million of insured people, well ahead of Latin America and Africa which respectively account for 48.6 and 44.4 million of insured people.

In Asia, the Philippines are the country where microinsurance is most fruitful (21.4% of insured people) followed by Thailand (14%), India (9.2%), Bangladesh (6.2%), Malaysia (3.8%) and Pakistan (3.1%).