Insurance solutions for financial inclusion
In order to operate in risky environments, MSMEs require appropriate insurance solutions that take into consideration their needs, resources, and current practice. In order to address this issue, UNCTAD has prepared a guiding document on Facilitating Access to Affordable Insurance Products by MSMEs. Its objective is to provide policy makers and insurance practitioners with inputs for the elaboration of national strategies to foster the development of innovative insurance solutions.
The document includes an analysis of the insurance market for MSMEs in developing countries, discusses the role of insurance regulators in facilitating financial inclusion, and addresses issues in building a roadmap for facilitating the creation of an SME insurance market. This roadmap includes practical examples on selecting optimal regulatory approaches, in different national contexts and considering policy priorities.
Achieving innovative insurance solutions for MSMEs requires dialogue between public and private sector stakeholders.