Region

Latin America and the Caribbean

Insurance Schemes - Policy Case Study on Inclusive Business

Insurance programmes for people at the bottom of the economic pyramid (BOP) empower them to participate in markets by protecting them against risks such as illness, injury, damage, or loss. People at the BOP are often more vulnerable to such risks because they are less able to cope with the financial burden caused by unexpected occurrences. Despite this, the BOP is typically ignored by mainstream commercial insurers. Micro-insurance schemes are built to cover people excluded from statutory social security, especially workers in the informal economy and their families.

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Company Survey 2016