The Success Story Behind the Development of Microinsurance in the Philippines

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, Insurance Commission, Government of the Philippines - Email the author | Other materials by the author

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.

Geographical Focus:

Philippines

Type of Content:

Learning Event

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