From Connectivity to Coverage: Scaling Resilience through Mobile-Enabled Microinsurance

Mobile technology can play a key role in closing the protection gap for the millions in low- and middle-income countries who lack access to adequate and affordable insurance products. In 2023, only 12% of the target population for microinsurance was covered. In the same year, there were at least 1.8 billion registered mobile money accounts. This shows a significant potential to close the protection gap through mobile-enabled insurance.

While several mobile network operators and some mobile money providers offered insurance prior to 2021, more have launched products since then. However, there has been limited awareness of recent developments and innovations in this space. This report aims to overcome this knowledge gap.

The lessons in this report are based on the experiences of early pioneers, organisations that expanded and other stakeholders that have faced barriers to entry and scale. Following these lessons in a coordinated manner could enable better collaboration between microinsurance providers and the mobile industry. This in turn could improve financial inclusion and lead to greater resilience among vulnerable communities.