A lack of comprehensive data on microinsurance risks is pushing
up the cost of taking out coverage — and thereby
slowing growth of the market, says Michael McCord, president of
the MicroInsurance Centre, a US-based consultancy.
INSURANCE SECTOR REPORT: Numbers game
Latin America’s microinsurance industry is growing rapidly, but with better data, the results could be even more impressive
Actuarial tables are not available for the low-income market
in Latin America, meaning that microinsurers play it safe by
charging more than they need to, he says.
"Often when people do have actuarial data, it reflects the
risks of wealthier people who are going to the hospital,
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