The impact and market potential of microinsurance
12 March 2019
13 March 2019
In this Insurance Institute of London (IIL) reinsurance lecture Joan Lamm-Tennant (Chief Executive Officer and Founder, Blue Marble Microinsurance) talked about an innovative business model, involving the collaboration of nine multinational insurance entities in developing a microinsurance market. Participants gained insights into the impact insurance can have on development and the potential premium volume of microinsurance.
Joan noted that while there have been microinsurance efforts to date, several barriers constrain the development of a microinsurance market. She outlined the Blue Marble collaborative approach which works with partners to extend socially impactful, commercially viable insurance protection to the underserved, advancing food security, financial inclusion and micro-entrepreneurship. The aim, she said, is to develop a microinsurance market that economically empowers the financially underserved.
By the end of this lecture members would have gained an insight into:
- The importance of changing how we do business through developing new business models and behaviours
- The role of insurance in economic development, particularly in emerging markets
- The market potential of microinsurance
Duration: 40 minutes
This document is believed to be accurate but is not intended as a basis of knowledge upon which advice can be given. Neither the author (personal or corporate), the CII group, local institute or Society, or any of the officers or employees of those organisations accept any responsibility for any loss occasioned to any person acting or refraining from action as a result of the data or opinions included in this material. Opinions expressed are those of the author or authors and not necessarily those of the CII group, local institutes, or Societies.