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EC-L1259 : Insurtech as a Tool for Increasing Economic Resilience

Project Status: Approved

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

Número do Projeto
EC-L1259
Approval date
December 16, 2019
Project Country
Ecuador
Project Sector
PRIVATE FIRMS AND SME DEVELOPMENT
Project Subsector
PRIVATE FIRMS AND SME DEVELOPMENT-SMALL AND MEDIUM ENTERPRISE
Tipo de Projeto
Loan Operation
Environmental and social impact category
C
Project Status
Approved

Project Information

Total Cost
USD 650,000
Country counterpart financing
USD 50,000
Fund
MIF-Small Enterprise Investment Fund