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ZURICH, SwitzerlandZurich Financial Services has entered into a partnership with the Swiss Agency for Development and Cooperation, to help implement its new cross-regional microinsurance initiative.
The Swiss insurance group says that the initiative's primary aim is to expand coverage to disadvantaged sectors of the population in countries across Africa, Asia and Latin America. This will help to promote basic risk management principles and reduce poverty, it believes.
"Zurich recognizes that there is a significant unmet need for insurance among disadvantaged populations in emerging markets. The group has been one of the early movers among the major insurance companies in providing insurance coverage to low-income customers through innovative products in Latin America," said Zurich.
"The new microinsurance initiative, however, represents the first concerted effort across different regions within the group, focused on the underprivileged population segment," it continued.