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(MoneyNewsWire.Net, September 02, 2015 ) 'Insight Report: Microinsurance - Tapping an Unconventional Market' analyzes the growth of microinsurance globally, and the threats and challenges it faces. Most microinsurance businesses are generated from developing countries; it is therefore important to understand the cultural diversity and business environments in Latin America, Asia and Africa. Asia accounts for 80% of the global microinsurance industry, followed by Latin America and Africa with 15% and 5% respectively, according to ILO and Munich Re. Asia had the highest number of people with microinsurance cover, at 170.4 million in 2012. Despite the rising penetration of funeral insurance in South Africa and mobile microinsurance (MMI) services in the Sub-Saharan African (SSA) market, overall microinsurance coverage is still very low in Africa. In Latin America, growth in microinsurance coverage is led by commercial insurers, unlike Asia and Africa, where markets are driven by subsidies, government funds and donors.
Insurers are considering microinsurance as a long-term growth strategy in new and potentially high-growth markets. Insurers are increasingly collaborating with government agencies, non-government organizations (NGOs) and development organizations to create a market for microinsurance.
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Scope
• This report analyzes the coverage of the global microinsurance industry, along with key trends.
• This report provides an insight into the threats and challenges in the global microinsurance industry.
• This report discusses product and technological innovations by microinsurers to increase operational efficiency and microinsurance coverage.
• This report also provides an understanding of target consumers of microinsurance.
Summary
'Insight Report: Microinsurance - Tapping an Unconventional Market' covers detailed analysis of the global microinsurance industry as a source of growth for insurers. It provides:
• Insights into the key global market trends in the microinsurance industry.
• Evaluation of microinsurance as a business case for commercial insurers.
• Insights into different microinsurance business models.
• Detailed analysis of microinsurance coverage, and supply and demand of microinsurance products.
Reasons To Buy
• Understand current developments in the global microinsurance supply chain.
• Develop an insight into how microinsurers use distribution channels to reach target consumers.
• Gain understanding of the governments' and NGOs’ roles in developing microinsurance, and how commercial insurers can collaborate with NGOs and governments to penetrate the microinsurance market.
• Gain an insight into best practices and strategy to build scale and increase commercialization in microinsurance.
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