Financial inclusion: an opportunity for insurers as digitalisation accelerates
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The growth in online activity from COVID-19 enables insurers to offer tailored, affordable products to those with less access to financial services.
Key takeaways:
- The COVID-19 crisis reinforces the importance of improving financial inclusion to strengthen the global economy.
- Insurance plays a key role in providing financial relief to buffer households from shocks, but the most vulnerable tend to have very limited coverage.
- The acceleration in digitalisation prompted by COVID-19 enables insurers to offer more affordable products via digital channels to the under-served.
- Public-private partnerships will be crucial to build a digital-friendly environment and ensure equal access.
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