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EC-L1259 : Insurtech as a Tool for Increasing Economic Resilience
Project Status: Closed
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
Project Number
EC-L1259
Project Country
Ecuador
Project Sector
PRIVATE FIRMS AND SME DEVELOPMENT
Project Subsector
SMALL AND MEDIUM ENTERPRISE
Project Type
Loan Operation
Project Lending Type
NSG
Project Modality
Project Facility Type
Environmental and social impact category
C
Project Status
Closed
Operation Number
4949/MS-EC
Financial Information
Project Number
EC-L1259
Project Status
Closed
IDB Financing
Financing type
MIF
Fund
MIF-Small Enterprise Investment Fund
Reporting currency
USD - United States Dollar
Reporting date
May/31/2023
Roles & Responsibilities
Contract signature date
Mar/30/2020
Project Information
Total Cost
USD 650,000
Country counterpart financing
USD 50,000
Amount
USD 600,000
Approved
Title
Type
Project Number
Date Published