The impact and market potential of microinsurance
In this IIL reinsurance lecture Joan Lamm-Tennant talked about an innovative business model, involving the collaboration of nine multinational insurance entities in developing a microinsurance market. Participants gained insights into the impact insurance can have on development and the potential premium volume of microinsurance.
Joan noted that while there have been microinsurance efforts to date, several barriers constrain the development of a microinsurance market. She outlined the Blue Marble collaborative approach which works with partners to extend socially impactful, commercially viable insurance protection to the underserved, advancing food security, financial inclusion and micro-entrepreneurship. The aim, she said, is to develop a microinsurance market that economically empowers the financially underserved.
By the end of this lecture members would have gained an insight into:
- The importance of changing how we do business through developing new business models and behaviours
- The role of insurance in economic development, particularly in emerging markets
- The market potential of microinsurance
Speaker Bio:
Joan Lamm-Tennant is the CEO & Founder of Blue Marble Micror Limited, a startup that designs and implements microinsurance ventures for the underserved in emerging markets. Previously, Joan was the Global Chief Economist and Risk Strategist of Guy Carpenter LLC, and President of of GenRe Capital Consultants.
Chair:
Julian Spence Executive Vice President, International Operations, TransRe.
Venue
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