Study Highlights Barriers to Health and Life Insurance Uptake in Emerging Economies
A recent study by the Geneva Association has identified significant barriers to the uptake of health and life insurance in emerging economies, despite the growth of digital payments and savings products. The study highlights that insurance remains one of the least developed aspects of financial inclusion in these regions. Key barriers include high costs and a lack of awareness, particularly in health, disability, savings-type life, and property insurance. The study notes that medical costs are a major financial concern in most surveyed markets, reflecting limited social protection and high out-of-pocket expenses. China and India lead in insurance usage, with about three-quarters of respondents holding at least one policy, aided by digital platforms and state-led programs. The study emphasizes the need for commercial innovation, public policy, and regulation to work together to close protection gaps. 
