Landscape of Microinsurance in Asia and Oceania · Banglades Indonesia 0.4% Country contribution to...

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Landscape of Microinsurance in Asia and Oceania Premasis Mukherjee Arman Oza Lisa Chassin Rupalee Ruchismita Date: 02/07/2014

Transcript of Landscape of Microinsurance in Asia and Oceania · Banglades Indonesia 0.4% Country contribution to...

Page 1: Landscape of Microinsurance in Asia and Oceania · Banglades Indonesia 0.4% Country contribution to premium growth •India, The Philippines and China lead the growth: 92.9% of outreach

Landscape of Microinsurance in Asia and Oceania

Premasis Mukherjee Arman Oza

Lisa Chassin

Rupalee Ruchismita

Date: 02/07/2014

Page 2: Landscape of Microinsurance in Asia and Oceania · Banglades Indonesia 0.4% Country contribution to premium growth •India, The Philippines and China lead the growth: 92.9% of outreach

Munich Re Foundation

How is microinsurance defined? ILO : Microinsurance is the protection of low income people against specific perils in exchange for regular premium

payments proportionate to the likelihood and cost of risk involved.

IAIS : Microinsurance is insurance that is accessed by low-income populations, provided by a variety of different

entities, but run in accordance with generally accepted insurance practices

07/07/2014 2

Landscape of Microinsurance in Asia

Individ

ual Instt./govt. co-

contribution

Partiall

y

subsidi

sed

Fully govt.

subsidised

Individ

ual

Semi-

formal

instt.

Insurer

Govt.

CBO

Commu

nity

Risk

underwri

ting by

Premium

contribution

Informal

insurance

Social

security

The common understanding of

microinsurance and social security

Microins

urance

Indivi

dual

Instt./govt.

co-

contributio

n

Parti

ally

subsi

dised

Fully govt.

subsidised

Individual

Semi-formal

instt.

Insurer

Govt.

CBO

Comm

unity

Risk

underwr

iting by

Premium

Contribution

Informal

insurance

Social

security

The new paradigm

Microin

suranc

e

Social

micro

insuran

ce

Page 3: Landscape of Microinsurance in Asia and Oceania · Banglades Indonesia 0.4% Country contribution to premium growth •India, The Philippines and China lead the growth: 92.9% of outreach

Overall Findings

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Landscape of Microinsurance in Asia

Page 4: Landscape of Microinsurance in Asia and Oceania · Banglades Indonesia 0.4% Country contribution to premium growth •India, The Philippines and China lead the growth: 92.9% of outreach

Munich Re Foundation

Overall outreach of microinsurance in Asia and Oceania

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Landscape of Microinsurance in Asia

Key numbers

31 countries participated

24 countries with microinsurance

216 providers with 507 products

170.4MM covered

83.9 MM Life

29.2 MM Health

77.8 MM Accident

7.7 MM Property

23.2 MM Agriculture

4.65 MM Takaful

Page 5: Landscape of Microinsurance in Asia and Oceania · Banglades Indonesia 0.4% Country contribution to premium growth •India, The Philippines and China lead the growth: 92.9% of outreach

Munich Re Foundation

Which countries are leading the market?

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Landscape of Microinsurance in Asia

0.3 0.3 1.1 1.3 5.3

9.3 9.4 11.9 19.9

111.1

0

20

40

60

80

100

120

Millio

ns

1.2% 1.4% 1.5% 2.0% 3.0% 3.7%

6.1%

9.0%

13.9%

20.6%

0%

5%

10%

15%

20%

25%

Ten countries with highest coverage (2012)

Ten countries with highest coverage ratios

• More than 66% of all products are from India

• 74.1% of coverage from South Asia, of which

India contributes 88%

• Top ten countries contribute 99% of all

coverage

• Overall coverage ratio: 4.3%

• The Philippines leads in coverage ratio owing

to market development in recent years

Page 6: Landscape of Microinsurance in Asia and Oceania · Banglades Indonesia 0.4% Country contribution to premium growth •India, The Philippines and China lead the growth: 92.9% of outreach

Munich Re Foundation

What kind of products are sold?

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Landscape of Microinsurance in Asia

33.2

13.3 5.7

1.3

13.7

83.9

29.2

77.8

7.7

26.2

0.0

10.0

20.0

30.0

40.0

50.0

60.0

70.0

80.0

90.0

Life Health Accident Property Agriculture

In m

illio

ns

Individual policies in force Number of people covered

Number of people covered and policies in force per risk type

12

7

3 2

8 10

12

19

11 13 12

28

22

32

0

5

10

15

20

25

30

35

0

50

100

150

200

250

Nu

mb

er

of

pro

du

cts

lau

nch

ed

in

th

e y

ear

Accu

mu

late

d n

um

ber

of

pro

du

cts

Accumulated number of products Number of products launched

Launch of microinsurance products

• Life insurance predominant with 40% of

policies and 48.5% of people covered

• Accident insurance covers 45% of people :

largely due to India and China

• Regional disproportion in health insurance

types: many a country have shown only single

type of product 0%

20%

40%

60%

80%

100%

Accident

Property

Agriculture

Health

Life

Breakdown of total lives and properties covered by risk type

in Asian regions (including primary and secondary covers)

Page 7: Landscape of Microinsurance in Asia and Oceania · Banglades Indonesia 0.4% Country contribution to premium growth •India, The Philippines and China lead the growth: 92.9% of outreach

Munich Re Foundation

Growth of the market is divergent and interesting

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Landscape of Microinsurance in Asia

Page 8: Landscape of Microinsurance in Asia and Oceania · Banglades Indonesia 0.4% Country contribution to premium growth •India, The Philippines and China lead the growth: 92.9% of outreach

Munich Re Foundation

Growth of the market is divergent and interesting

07/07/2014 8

Landscape of Microinsurance in Asia

184.7%

103.4% 93.6% 76.0%

60.2% 54.1% 30.6% 23.4% 19.4% 18.2% 17.5% 16.5% 16.0% 9.3% 6.9%

-7.2% -25.3% -50%

0%

50%

100%

150%

200%

Ma

laysia

Ind

one

sia

Fiji

Chin

a

Nepa

l

Mo

ngo

lia

Ind

ia

Leb

ano

n

Pakis

tan

Phili

ppin

es

Sri L

an

ka

Palis

tine

Cam

bod

ia

Om

an

Ban

gla

de

sh

Kuw

ait

Vie

tna

mMicroinsurance coverage compound annual growth rate, 2010-2012 by country

2% 17% 21% 23% 24%

38% 41% 48% 49% 57% 60%

152%

-35,000,000

15,000,000

65,000,000

115,000,000

165,000,000

215,000,000

265,000,000

-25%

25%

75%

125%

175%

Premium growth % Premium growth (in USD)

368% 578% Microinsurance premium growth rates by country

Page 9: Landscape of Microinsurance in Asia and Oceania · Banglades Indonesia 0.4% Country contribution to premium growth •India, The Philippines and China lead the growth: 92.9% of outreach

Munich Re Foundation

Growth leaders remain the countries with high outreach

07/07/2014 9

Landscape of Microinsurance in Asia

Others* 1.3%

India 71.5%

China 15.6%

Philippines 8.3%

Indonesia 2.0%

Bangladesh 1.3%

Country contribution to coverage growth

Others* 0.5%

India 79.9%

China 6.9%

Philippines 5.2%

Sri Lanka 3.9%

Malaysia 2.8%

Bangladesh

0.5%

Indonesia 0.4%

Country contribution to premium growth

• India, The Philippines and China lead the growth: 92.9%

of outreach and 92% of premium growth

• Countries with takaful insurance contribute to the

premium growth significantly

Life, 29.9%

Health, 21.1%

Agriculture, 13.9%

Property, 1.3%

Accident, 31.7%

Product contribution to growth (in coverage)

Page 10: Landscape of Microinsurance in Asia and Oceania · Banglades Indonesia 0.4% Country contribution to premium growth •India, The Philippines and China lead the growth: 92.9% of outreach

Life microinsurance

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Landscape of Microinsurance in Asia

Page 11: Landscape of Microinsurance in Asia and Oceania · Banglades Indonesia 0.4% Country contribution to premium growth •India, The Philippines and China lead the growth: 92.9% of outreach

Munich Re Foundation

Life microinsurance predominates the market

- 83.9 million individuals covered

- 48.5% of all micro insured across the

continent

- 33.8 million policies in force,

- 40% of all policies identified

- USD 290 million premium generated

in 2012 (primary covers only),

- 31% of all premiums collected

Page 12: Landscape of Microinsurance in Asia and Oceania · Banglades Indonesia 0.4% Country contribution to premium growth •India, The Philippines and China lead the growth: 92.9% of outreach

Munich Re Foundation

Specification of life microinsurance products

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Landscape of Microinsurance in Asia

0

10

20

30

40

50

60

Be

fore

20

00

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013N

um

be

r o

f p

rod

uc

ts

Term life

Credit life

Funeral

Endowment

Savings

Credit Plus

Evolution of life microinsurance sub-covers

(by number of products)

Credit life 5.7%

Credit plus 8.2%

Term life 42.5%

Endowment

14.5%

Funeral 3.7%

Pensions 9.3%

Savings 16.2%

Life sub-covers by coverage

Community-based

organisation 0.1%

Cooperative 0.3%

Takaful 2.7%

Mutual 3.3%

NGO 7.3%

Other 20.7% Regulated

commercial insurer 65.6%

Providers of life microinsurance

- Life microinsurance growing by 39.2% in terms of

number of policies

- Life microinsurance growing by 88% in terms of

number of people covered

- Mostly short-term policies

- Bangladesh showing increasing trend of micro

endowment policies

Page 13: Landscape of Microinsurance in Asia and Oceania · Banglades Indonesia 0.4% Country contribution to premium growth •India, The Philippines and China lead the growth: 92.9% of outreach

Health microinsurance

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Landscape of Microinsurance in Asia

Page 14: Landscape of Microinsurance in Asia and Oceania · Banglades Indonesia 0.4% Country contribution to premium growth •India, The Philippines and China lead the growth: 92.9% of outreach

Munich Re Foundation

Health insurance outreach is quite below potential

- 29.2 million individuals covered

- 31 million in 2007

- 0.7-1.5% coverage ratio

- 15.5million policies in force,

- 18% of all policies identified

- USD 92.4 million premium generated

in 2012 (primary covers only),

- 11% of all premiums collected

Page 15: Landscape of Microinsurance in Asia and Oceania · Banglades Indonesia 0.4% Country contribution to premium growth •India, The Philippines and China lead the growth: 92.9% of outreach

Munich Re Foundation

Specifications of health microinsurance products

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Landscape of Microinsurance in Asia

0

5

10

15

20

25

30

35

Be

fore

20

00

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

Nu

mb

er

of

pro

du

cts

Primary health

Hospitalisation

ComprehensivehealthHospital cash

Dread disease

Dental

Evolution of health microinsurance sub-covers

(by number of products) Primary health 6.8%

Hospitalisation

51.9%

Comprehensive health

18.1%

Hospital cash

13.1%

Dread disease

9.7%

Dental 0.4%

Health sub-covers by coverage

Hospital 0.1%

Other 0.3%

Mutual 0.4%

Cooperative

4.8%

Community based

organisation

7.3%

Parastatal insurer 10.5% NGO

37.2%

Regulated commercial insurer

39.4%

Providers of health microinsurance

- Health microinsurance (HMI) is dominated by

regulated insurers and not community based

organisations

- In Bangladesh, Pakistan and Cambodia, NGOs

participate in the sector

- Hospital cash and comprehensive covers are

increasing after advent of Universal Health

Coverage schemes

Page 16: Landscape of Microinsurance in Asia and Oceania · Banglades Indonesia 0.4% Country contribution to premium growth •India, The Philippines and China lead the growth: 92.9% of outreach

Accident insurance

07/07/2014 16

Landscape of Microinsurance in Asia

Page 17: Landscape of Microinsurance in Asia and Oceania · Banglades Indonesia 0.4% Country contribution to premium growth •India, The Philippines and China lead the growth: 92.9% of outreach

Munich Re Foundation

Accident insurance is mostly provided as linked cover

- 77.8 million individuals covered

- 33.9% of coverage

- 17.7million policies in force,

- 20.6% of all policies identified

- USD 128.4 million

- 7.7% of premium generated

(primary covers only)

- 50% of products are tied with other

products

- 40% of products are tied with

life microinsurance

Page 18: Landscape of Microinsurance in Asia and Oceania · Banglades Indonesia 0.4% Country contribution to premium growth •India, The Philippines and China lead the growth: 92.9% of outreach

Agriculture microinsurance

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Landscape of Microinsurance in Asia

Page 19: Landscape of Microinsurance in Asia and Oceania · Banglades Indonesia 0.4% Country contribution to premium growth •India, The Philippines and China lead the growth: 92.9% of outreach

Munich Re Foundation

Agriculture microinsurance generates highest premium

- 23.8 million individuals covered

- 10.5% of coverage

- 16.1 million policies in force,

- 18.7% of all policies identified

- USD382.6 million premium generated

- 46.2% of premium generated

(primary covers only)

- Growing at 130%

Page 20: Landscape of Microinsurance in Asia and Oceania · Banglades Indonesia 0.4% Country contribution to premium growth •India, The Philippines and China lead the growth: 92.9% of outreach

Munich Re Foundation

Specifications of agriculture microinsurance products

07/07/2014 20

Landscape of Microinsurance in Asia

Evolution of agriculture microinsurance sub-covers

(by number of products)

Agriculture sub-covers by coverage

- Livestock insurance: crop insurance : : 46:54

- Livestock indemnity based insurance is most

populous in agriculture insurance

02468

101214161820 Crop, indemnity

based

Crop, weather indexbased

Crop, area yield(ground measured)

Livestock indemnitybased

Livestock, satellitebased Index

Crop, indemnity

based 1.0%

Crop, weather

index based 27.8%

Crop, area yield(groun

d measured)

25.3%

Crop, area yield(satellite images)

0.0%

Live stock, indemnity

based 44.9%

Live stock

satellite based index 1.0%

Page 21: Landscape of Microinsurance in Asia and Oceania · Banglades Indonesia 0.4% Country contribution to premium growth •India, The Philippines and China lead the growth: 92.9% of outreach

Property microinsurance

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Landscape of Microinsurance in Asia

Page 22: Landscape of Microinsurance in Asia and Oceania · Banglades Indonesia 0.4% Country contribution to premium growth •India, The Philippines and China lead the growth: 92.9% of outreach

Munich Re Foundation

Property insurance is least developed in the region

- 7.7 million individuals covered

- 3.4% of coverage

- 1.3 million policies in force,

- 1.5% of all policies identified

- USD 31.5 million premium generated

- 3.8% of premium generated

(primary covers only)

- Most of the coverage is on

possession and not type of risk

Page 23: Landscape of Microinsurance in Asia and Oceania · Banglades Indonesia 0.4% Country contribution to premium growth •India, The Philippines and China lead the growth: 92.9% of outreach

Product Characteristics

07/07/2014 23

Landscape of Microinsurance in Asia

Page 24: Landscape of Microinsurance in Asia and Oceania · Banglades Indonesia 0.4% Country contribution to premium growth •India, The Philippines and China lead the growth: 92.9% of outreach

Munich Re Foundation

Product type : Most of microinsurance is of group product nature

Total Life Health Agriculture Property Accident

Individual

Products 48% 50% 51% 42% 45% 43%

Lives or

properties 28% 35% 51% 1% 8% 22%

Group

Products 31% 37% 30% 13% 23% 31%

Lives or

properties 21% 40% 8% 1% <1% 14%

Both

Products 21% 13% 19% 46% 32% 26%

Lives or

properties 51% 25% 41% 98% 92% 64%

Page 25: Landscape of Microinsurance in Asia and Oceania · Banglades Indonesia 0.4% Country contribution to premium growth •India, The Philippines and China lead the growth: 92.9% of outreach

Munich Re Foundation

Microinsurance products are mostly short-term in nature

07/07/2014 25

Landscape of Microinsurance in Asia

0 20 40 60 80 100

Fixed term, upto one year

Limited Term 1-3 years

Limited term 4-7 years

Limited term, more than 7 years

Yearly renewable term

Linked to loan or other product term

Whole of life

Other

Monthly

Multiple term

Millions

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

Life Health Agriculture Property Accident

Monthly

Whole of life

Linked to loan or other product term

Limited term, more than 7 years

Limited term 4-7 years

Yearly renewable term

Fixed term life, upto one year

Page 26: Landscape of Microinsurance in Asia and Oceania · Banglades Indonesia 0.4% Country contribution to premium growth •India, The Philippines and China lead the growth: 92.9% of outreach

Munich Re Foundation

Asian microinsurance market has higher claim incidence

07/07/2014 26

Landscape of Microinsurance in Asia

Product type

Number of lives insured

in million

(only if both premiums

and claims provided)

Premiums

in million USD

(only if both premiums

and claims provided)

Claims

in million USD

(only if both

premiums and claims

provided)

Loss ratio

Life 60.3 199.6 179.9 90%

Health 15.5 59.8 47.3 79%

Agriculture 22.4 381.11 224,1 59%

Property 5.2 27.2 22.1 81%

Accident 75.7 128.4 155.2 121%

Total 181.6 797.2 628.7 79%

Page 27: Landscape of Microinsurance in Asia and Oceania · Banglades Indonesia 0.4% Country contribution to premium growth •India, The Philippines and China lead the growth: 92.9% of outreach

Distribution and use of technology in microinsurance

Page 28: Landscape of Microinsurance in Asia and Oceania · Banglades Indonesia 0.4% Country contribution to premium growth •India, The Philippines and China lead the growth: 92.9% of outreach

Munich Re Foundation

Distribution of microinsurance is still conventional

0 50 100 150 200 250

CBOs, mutuals other member…

MFIs, remittances, banks

Conventional insurance agents

Specialised microinsurance agents

Employer

Other/Non insurer

Retailers

MI brokers

Mobile

Churches

Funeral parlours

Number of products

- CBOs and mutuals are predominantly

into health microinsurance delivery

- Life microinsurance mainly delivered

through MFIs and specialised

microinsurance agents

- Community based insurance more

common in South and South East

Asia

Page 29: Landscape of Microinsurance in Asia and Oceania · Banglades Indonesia 0.4% Country contribution to premium growth •India, The Philippines and China lead the growth: 92.9% of outreach

Munich Re Foundation

Use of technology is limited to back office management

65% of all processes of all providers are based on paper forms

07/07/2014 29

Landscape of Microinsurance in Asia

0%

25%

50%

75%

100%

Specialised Software

Call centre

Magnetic striple cards

POS devices

Mobile phones

Percentage of providers using technologies in their processes (excluding paper forms)

6.1%

6.1%

7.1%

7.1%

10.1%

18.2%

19.2%

26.3%

Claims payment

Policy management

Product design

Data transfer with partners

Premium collection

Sales

Marketing

Customer service

Use of mobile phones in microinsurance processes

- Only 40 organisations of 228

surveyed use mobile phone for any

process of microinsurance

- Of those who uses mobile phone,

most use it for customer service,

marketing (tele-calling) and sales

Page 30: Landscape of Microinsurance in Asia and Oceania · Banglades Indonesia 0.4% Country contribution to premium growth •India, The Philippines and China lead the growth: 92.9% of outreach

Microinsurance stakeholders

Page 31: Landscape of Microinsurance in Asia and Oceania · Banglades Indonesia 0.4% Country contribution to premium growth •India, The Philippines and China lead the growth: 92.9% of outreach

Munich Re Foundation

Regulated insurers are dominant microinsurance providers

0%

20%

40%

60%

80%

100%

Number of institution Lives/Properties

Takaful

Government agency

CBOs, mutuals, cooperatives

NGOs

Parastatal insurer

Other

Regulated commercial insurer

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

Life Health Agriculture Property Accident

Parastatal insurer

Government agency

Takaful

CBOs, mutuals, cooperatives

NGOs

Other

Regulated commercial insurer

Microinsurance provider types and outreach

Microinsurance providers according to product type

Page 32: Landscape of Microinsurance in Asia and Oceania · Banglades Indonesia 0.4% Country contribution to premium growth •India, The Philippines and China lead the growth: 92.9% of outreach

Providers’ perception on microinsurance: how they see the sector

07/07/2014 32

Landscape of Microinsurance in Asia

Page 33: Landscape of Microinsurance in Asia and Oceania · Banglades Indonesia 0.4% Country contribution to premium growth •India, The Philippines and China lead the growth: 92.9% of outreach

Munich Re Foundation

How do the providers define the microinsurance sector?

5%

31%

38%

34%

55%

53%

72%

75%

25%

25%

32%

46%

38%

43%

45%

57%

0% 20% 40% 60% 80%

Other

Specialised customerservice

Separate accounting forproduct expenses

Separate accounting forproduct

Specialized department

Management of MI products

Differentiated distributionchannels

Design and marketing ofproducts

All other insurers Regulated insurers

MFI

clients

21%

Women

11%

Farmers

11% Rural

19%

Others (urban

poor,

cooperative

members,

retirees etc.

7%

Low

income

21%

Self employe

d 3%

Target market for microinsurance (as identified by providers)

How is microinsurance business different for providers

Page 34: Landscape of Microinsurance in Asia and Oceania · Banglades Indonesia 0.4% Country contribution to premium growth •India, The Philippines and China lead the growth: 92.9% of outreach

Social microinsurance

Page 35: Landscape of Microinsurance in Asia and Oceania · Banglades Indonesia 0.4% Country contribution to premium growth •India, The Philippines and China lead the growth: 92.9% of outreach

Munich Re Foundation

With 1.7billion outreach, social microinsurance is unavoidable

reality for market based microinsurance

316.6

76.4 45.8 38.5

15.0 10.5 2.2 0.0 1.0 0.1 0.0 0.0

50.0

100.0

150.0

200.0

250.0

300.0

350.0

400.0

SMI outreach (in mn)

Current population below poverty line (inmn)

1154.5

Name of the scheme Country Individuals covered (in million) Type of risk covered

New Rural Cooperative Medical Scheme China 832.0 Health

Urban Resident Basic Medical Insurance China 221.0 Health

Rashtriya Swasthya Bima Yojana India 130.5 Health

PICC- Crop insurance China 101.5 Agriculture

Rajiv Arogyashree Yojana India 89.6 Health

Jamkesmas Indonesia 76.4 Health

Dr.Kalaignar (now Chief Minister's) Scheme India 54.4 Health

Universal Coverage Scheme Thailand 45.8 Health

PhilHealth, Philippines Philippines 38.5 Health

Aam Aadmi Bima Yojana India 20.3 Life

National Agriculture Insurance Scheme India 16.3 Agriculture

Universal Health Coverage Vietnam 15.0 Health

Crop Loan Insurance Pakistan 10.5 Agriculture

Page 36: Landscape of Microinsurance in Asia and Oceania · Banglades Indonesia 0.4% Country contribution to premium growth •India, The Philippines and China lead the growth: 92.9% of outreach

Regulation of microinsurance

Page 37: Landscape of Microinsurance in Asia and Oceania · Banglades Indonesia 0.4% Country contribution to premium growth •India, The Philippines and China lead the growth: 92.9% of outreach

Munich Re Foundation

Regulatory development are at various stages

Classification of countries in terms of their microinsurance regulatory development

Functional

MI

regulation

Institutional

MI

regulation

Regulatory/ policy development

No/restrictive

MI regulation

MI allowed as

part of

microfinance/

Insurance

MI as

obligation/

promotion

Inception stage Growth stage Maturity stage

• Sri Lanka

• Azerbaijan

• Thailand

• Malaysia

• Laos

• Mongolia

• Indonesia

• Bangladesh

• China

• Cambodia

• Vietnam

• Nepal

• Pakistan

• Papua New Guinea

• Fiji

• East Timor

• India

• The Philippines

Representative countries of Asia

Page 38: Landscape of Microinsurance in Asia and Oceania · Banglades Indonesia 0.4% Country contribution to premium growth •India, The Philippines and China lead the growth: 92.9% of outreach

Country segmentation based on landscape

Page 39: Landscape of Microinsurance in Asia and Oceania · Banglades Indonesia 0.4% Country contribution to premium growth •India, The Philippines and China lead the growth: 92.9% of outreach

Munich Re Foundation

Market segmentation of Asian and Oceania market throws insight

into differential treatment

0.9% 1.2% 1.4% 1.5% 2.0% 3.0% 3.7% 6.1%

9.0%

13.9%

20.6%

1.9% 1.9% 5.4% 2.9% 4.1%

20.7%

11.5%

14.7%

42.3%

36.3%

0.0%

5.0%

10.0%

15.0%

20.0%

25.0%

30.0%

35.0%

40.0%

45.0%

Coverage ratio Alternative coverage ratio

Stabilised markets Growth leaders Monoliths Nascent

India

The Philippines

Bangladesh

Indonesia

Malaysia

Nepal

Pakistan

Thailand

Cambodia

China

Jordan

Mongolia

Sri Lanka

Vietnam

Azerbaijan

Bhutan

East Timor Oman

Fiji

Kuwait

Lebanon

Palestine

Papua New Guinea

Uzbekistan

Page 40: Landscape of Microinsurance in Asia and Oceania · Banglades Indonesia 0.4% Country contribution to premium growth •India, The Philippines and China lead the growth: 92.9% of outreach

Thank you

07/07/2014 40

Landscape of Microinsurance in Asia