Zurich announces a new initative to expand cover to disadvantaged people in countries across Africa, Asia and Latin America...
Zurich has entered into a partnership with the Swiss Agency for Development and Cooperation (SDC), for a joint implemen-tation of Zurich's new cross-regional microinsurance initiative.
The initiative aims to expand insurance coverage to disadvantaged sectors of the population in countries across Africa, Asia and Latin America, thereby promoting basic risk management principles and helping to reduce poverty.
Zurich has already looked at providing insurance coverage to low-income customers in Latin America, but the microinsurance initiative represents the first concerted effort across different regions within the group, focused on
the under-privileged population segment.
Patrick O'Sullivan, Zurich's group finance director, commented: “Through our new cross-regional approach to microinsurance, we will explore new business models which can allow us to help more people protect their livelihood and their dignity by offering affordable insurance solutions.”
He added: “A systematic approach, sharing learnings and applying tools from our successful operational improvement program, The Zurich Way, will provide us access to a broader market base.”
