- Base Year: 2018
- Estimated Year: 2019
- Forecast Period: 2019 to 2026
Microinsurance is the protection of low-income people (those living on between approximately $1 and $4 per day (below $4)) against specific perils in exchange for regular premium payment proportionate to the likelihood and cost of the risks involved.
This report categorizes the market with various types, applications, companies, and regions. It focuses on the present scenario and the future growth of the Microinsurance market, especially in regions like North America, Asia-Pacific, Europe, South America, Middle East, and Africa.
According to the report, the Microinsurance market is valued at approximately USD xxxx million in 2019 and is expected to generate revenue of around USD xxxx million by 2026, growing at a CAGR of roughly xxxx% from the base year to 2026.
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Banco do Nordeste
Bandhan Financial Services
FundaciOn de la Mujer
Amhara Credit and Savings Institution
Al Amana Microfinance
FundaciOn WWB Colombia
Growth Dynamic and Constraint
With features that the Microinsurance providers committed to offering insurance with a relative-lower value for those low-income people across the world, which makes this type of insurance enjoys a most promising future compared with other types insurance, especially in developing countries. However, the market growth may also be hindered by the difficulties in tailoring varied needs by individuals. Furthermore, the challenges that how to assess credit precisely of the insured have also restricted the global Microinsurance market.
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Segments by Region
According to the report, the regional market growth of Microinsurance in North America and Europe remains a relatively low level as the demand for such insurance service in the region is not as surge as in other areas like Asia-Pacific, Middle-East, and South Africa. During the forecast period, the markets in regions such as Brazil, Mexico, Peru, and the Philippines are endowed with a more promising future than others.
Segments by Type
• Life Insurance
• Material Damages Insurance
• Home Insurance
Segments by Application
• Insurance Agents
• Social Media Channels
• Microfinance Institutes
• Mobile Phones
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• Global Insurance Service Suppliers
• Global Banking and Financial Services Providers
• Credit and Savings Institutions
• Market Research and Consulting Firms in the Insurance Industry
• Government Bodies and NGOs
• Analysts and Strategic Business Planners