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Financial inclusion: an opportunity for insurers as digitalisation accelerates

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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Economic Insights Financial inclusion: an opportunity for insurers as digitalisation accelerates

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