A.M. BestTV: An Unsung Feature of Microinsurance: Profitability

OLDWICK, N.J.--(BUSINESS WIRE)-- This A.M.BestTV episode highlights A.M. Best Senior Managing Director – Industry Relations Andrea Keenan, discussing the Microinsurance Network, a non-profit group of 70 institutions representing 30 countries that seeks to ensure that microinsurance is an important part of global development agendas. Click on http://www.ambest.com/v.asp?v=micromap1215 to view the entire program.

The Microinsurance Network has produced an interactive world map of microinsurance to give a comprehensive view of 280 million people that are covered through microinsurance.

“The real difficulty with microinsurance is lack of data, and the world map tries to combat that problem,” said Keenan. “By actually finding out what is the landscape, what communities are being reached, what communities are not being reached and to what extent certain regions are covered, the world map is providing necessary data, since microinsurance is about financial inclusion.”

Microinsurance grew to cover nearly 8% of the population in Latin America and Caribbean in 2013, up from 1.5% in 2005, and Latin America’s penetration is about twice that of Africa and Asia.

Michael J. McCord, chairman, Microinsurance Network, said he sees microinsurance rapidly growing and turning a profit, as it is now a $2.3 billion sector.

Recent episodes of A.M.BestTV include:

• Spanish Insurers Ensure Resilience by Sticking to Basics: A.M. Best Financial Analyst Pablo Vasquez discusses a recent Best Special Report on Spain’s insurance industry: http://www.ambest.com/v.asp?v=spain1215.
• U.S. Commercial Auto Sector’s Improved Results Might Not Last: A.M. Best Senior Research Analyst – Industry Research & Analytics David Blades, addresses the state of the U.S. commercial automobile insurance industry, which recently has seen better pricing but has also shown some surprising loss trends: http://www.ambest.com/v.asp?v=commercialauto1215.

• Europe’s Largest Markets Showing Signs of Recovery: A.M. Best Senior Director, Analytics, Carlos Wong-Fupuy, A.M. Best Europe Rating Services Limited, addresses the subject of European insurers’ strategies to look overseas for growth due to saturated domestic and difficult economic markets: http://www.ambest.com/v.asp?v=fmeurope1215.

• Growth Elusive in Asia-Pacific Reinsurance Markets: Reinsurance conditions in the Asia-Pacific region, including buying trends, barriers to growth and regulatory challenges are discussed by analysts from A.M. Best’s Singapore and Hong Kong offices: http://www.ambest.com/v.asp?v=fmasiapacific1215.

A.M.BestTV covers exclusive A.M. Best information and reports, targeted topics and key developments in the (re)insurance industry every Monday, Wednesday and Friday. Sign up for alerts of episodes at http://www.ambest.com/multimedia/ambtvsignup.html. View A.M.BestTV episodes at http://www.ambest.tv.

A.M. Best Company is the world’s oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com.

Copyright © 2015 by A.M. Best Company, Inc. ALL RIGHTS RESERVED.

View source version on businesswire.com: http://www.businesswire.com/news/home/20151216005812/en/

A.M. Best
Lee McDonald
Group Vice President, Publication and News Services
908-439-2200, ext. 5561
[email protected]

Source: A.M. Best Company

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