COVID-19 is pushing households into financial stress, particularly in emerging markets. This will likely widen the global health protection gap to well above its record-high level in 2019.
Global health resilience looks set to weaken in 2020 as incomes fall and health expenses rise.
COVID-19 has triggered the deepest recession in modern history and we expect global real GDP to fall by 4% this year, potentially widening health protection gaps.
The global health protection gap reached a new record high of USD 588 billion in 2019.
Emerging markets accounted for almost two thirds of the health protection gap in 2019 and their health resilience score was 16ppt lower than advanced economies.
Closing the health protection gap calls for partnerships between insurers, governments, public policymakers, healthcare and medical service providers that maximise financing efficiency by sharing healthcare risks.
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