Progressing financial inclusion

Highlight Stories

What we do Working together to progress financial inclusion

components.gridTeaserArea.title.vh

Research conducted by the Swiss Re Institute clearly indicates that both industrialised and developing countries are materially underinsured. Life and health, property, and other forms of insurance are often unavailable, inaccessible, and unaffordable for many people around the world.

We work with various partners, such as brokers, commercial and state-owned insurers and local governments, to reach the uninsured and underinsured with new and innovative insurance propositions. These joint efforts to fill the insurance protection gap allow us to focus on progressing financial inclusion and thereby achieving positive social impact for those whom insurance is currently out of reach.

The Public Sector Solutions Team leverages Swiss Re Group's in-depth risk expertise, global network of experts and wide range of insurance products to provide its public sector partners with the coverage that meets their needs. Discover some of our propositions below.

Proposition Mitigating housing risks

Population growth and urbanisation will lead to an increasing demand for housing. The (re)insurance industry can support the public sector in de-risking investments and providing innovative options that simultaneously increase home ownership. Swiss Re is ready to explore solutions with you on how to strategically develop this opportunity to mitigate housing risks.

Learn more about A case for mortgage insurance

Proposition Mitigating entrepreneurial risks

In many parts of the world lack of access to financial products blocks advancement opportunities for disadvantaged segments of the population. As part of public-private partnerships, Swiss Re can play a key role in the development of tailored insurance arrangements that support formerly uninsured entrepreneurs who may have taken out loans to support their business. In the event of hospital treatment being required for themselves or their family members, entrepreneurs can struggle financially. We can help by working together with public sector partners on a tailored insurance proposition to protect entrepreneurs and, at the same time, contribute to the progression of financial inclusion.

Learn more about How can insurance play a positive role in gender and income inequality?

Case study Our expertise in action

  • While many of our innovative solutions target underinsured communities and risks, it is a fact that 60% of the world’s population remain excluded from appropriate insurance products. This is why we seek to advance public awareness of the role insurance plays in achieving sustainable economic development.
    Profile photo of Mario Wilhelm.
    Mario Wilhelm Head Middle East & Africa

Further Information

Mandatory Insurance Scheme for Federal and Private Workers

Involuntary Loss of Employment

Employees in the United Arab Emirates (UAE) faced uncertainties in the event of involuntary loss of employment, leaving many of them vulnerable and forcing foreign workers to leave the country prematurely. In response, the government of the UAE introduced a mandatory insurance scheme for federal and private workers that provides financial support to workers who involuntarily lose their job. Swiss Re is the lead reinsurer of this programme which was developed in collaboration with the local insurance industry and the government of the UAE. Approximately six million employees are expected to benefit from this insurance cover, which ultimately progresses financial inclusion in the region and strengthens the confidence in the UAE as an employer.

Perspective Reshaping the social contract: The role of insurance in reducing income inequality

Income inequality within countries is negative for social cohesion, economic growth, and financial markets. It is also detrimental to most insurance markets, leading to overall lower insurance penetration and reduced household protection, our research finds.

Learn more Reshaping the social contract: the role of insurance in reducing income inequality

Contact us Interested in finding out more? Get in touch to learn how we can work together.

Related topics

Related topics