Insurtech as a Tool for Increasing Economic Resilience
The proposed project seeks to foster inclusion in the insurance market by supporting the expansion of S123. The solution will address the main barriers to inclusion by: (i) lowering the cost of premiums through the expansion of an online aggregation platform that fosters competition among insurance providers and economies of scale; (ii) increasing accessibility by broadening online delivery channels directed at low-income clients; (iii) enticing demand by increasing awareness of the benefits of insurance protection among vulnerable populations through an education campaign; and (iv) rolling out new health and asset protection insurance products tailored to low-income segments.

Project Detail

Country

Ecuador

Project Number

EC-L1259

Approval Date

December 16, 2019

Project Status

Closed

Project Type

Loan Operation

Sector

PRIVATE FIRMS AND SME DEVELOPMENT

Subsector

SMALL AND MEDIUM ENTERPRISE

Lending Instrument

Instrumento del Fondo Multilateral de Inversiones

Lending Instrument Code

MIF

Modality

-

Facility Type

-

Environmental and Social Impact Category (ESIC)

Category C: Likely to cause minimal or no negative environmental and associated social impacts

Total Cost

USD 650,000.00

Country Counterpart Financing

USD 50,000.00

Original Amount Approved

USD 600,000.00
Financial Information
Operation Number Lending Type Reporting Currency Reporting Date Signed Date Fund Financial Instrument
4949/MS-EC Non-Sovereign Guaranteed USD - United States Dollar MIF-Small Enterprise Investment Fund MIF Financing
Operation Number 4949/MS-EC
  • Lending Type: Non-Sovereign Guaranteed
  • Reporting Currency: USD - United States Dollar
  • Reporting Date:
  • Signed Date:
  • Fund: MIF-Small Enterprise Investment Fund
  • Financial Instrument: MIF Financing

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 Implementation Phase
https://www.iadb.org/document.cfm?id=EZSHARE-721475028-10
Donors Memorandum
EC-L1259 - Project summary.pdf
Nov. 03, 2020
English
https://www.iadb.org/document.cfm?id=EZSHARE-721475028-9
Donors Memorandum
EC-L1259 - Resumen del proyecto.pdf
Nov. 03, 2020
Spanish

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