Microinsurance

For hundreds of millions of low-income families, insurance and other financial services are too often unknown, not appropriate or beyond reach. Microinsurance combines the core skills and sophistication of insurance and risk management with new learning, research and innovation in order to appropriately and expediently serve low-income populations. Its aim is sustainability; the products and services must provide benefits to the customer in a commercially viable way for the provider.

Zurich's Microinsurance Practice leads the business globally, fosters development locally, and directs functional expertise to specific projects in various countries.

Partnerships

Following identification of the best and most promising developments in the field, Zurich entered into a public-private partnership with the Swiss Agency for Development and Cooperation (SDC). Through collaboration with the International Labour Organization (ILO), the SDC provides Zurich with a profound knowledge of local low-income communities and with technical expertise with respect to microinsurance. Zurich works with a number of institutions, including Nan Kai University in Tianjin City in China to jointly assess products and distribution platforms. We actively participate in the joint working group on microinsurance established by the Consultative Group to Assist the Poor and the International Association of Insurance Supervisors.

Markets

In business units in Latin America, Africa and Greater China, the business of growing microinsurance continues. We offer personal property, personal accident, health as well as funeral and life insurance. Zurich recognizes that constant improvement and learning are fundamental elements of this initiative and that through these disciplines, the chances to make quantum leaps improve.