Event: International Insurance Seminar: In Pursuit of a More Resilient and Inclusive Insurance Sector The Success Story Behind the Development of Microinsurance in the Philippines 21 October 2013 Author / Speaker Emmanuel Dooc View File Insurance penetration was initially low in the Philippines. This was primarily due to lack of an insurance culture in the country, lack of appreciation for its benefits, and the lack of insurance products for the poor. In collaboration with the private sector and donor organizations, the country was able to foster an an inclusive insurance market that increased microinsurance coverage from 3.1 million individuals in 2009 to about 12 million in 2012. Disclaimer The views expressed on this website are those of the authors and do not necessarily reflect the views and policies of the Asian Development Bank (ADB) or its Board of Governors or the governments they represent. ADB does not guarantee the accuracy of the data included in this publication and accepts no responsibility for any consequence of their use. By making any designation of or reference to a particular territory or geographic area, or by using the term “country” in this document, ADB does not intend to make any judgments as to the legal or other status of any territory or area. Download Topics Public-Private Partnership Poverty Private Sector