Magazine date:
Jan 2011 According to a study conducted by Sigma, microinsurance stands for a market of 40 billion USD. A breakdown by region has shown that the Asia Pacific region has the greatest potential. Far behind, lag Africa and Latin America. The report concluded that nearly 4 billion people could benefit from this type of products. Nearly some 2.6 billion of them live on 1.25 to 4 USD a day.
Governments should, however, subsidize insurance premiums so that the 1.4 billion poorest people can also benefit from this scheme. Microinsurance is primarily directed towards the provision of loan-backed life insurance policies. Health insurance and agricultural risks are also proposed. Only 3% of this market is utilized today.