How Microinsurance can Help to Reduce Poverty

摘要

According to the World Bank around 2.2 billion people, or almost 31% of the global population, live on incomes less than $1.25 a day, with 3.6 billion living on less than $2 per day [1]. People living on such low incomes usually have no access to formal financial services. In particular, they often have little access to formal risk management solutions, including traditional insurance products. As a result, the world's poor are often the most exposed to the impact of many high-risk events that can cause financial difficulties in their lives.