Kathmandu. The global microinsurance market is expected to reach $98.5 billion by 2030.
According to the latest report by Modern Intelligence, the global microinsurance market is expected to reach $ 98.58 billion in the next five years. This growth is expected to be achieved at an annual average of 5.97 percent.
The global microinsurance market is projected to reach $73.76 billion by 2025. Increasing use of mobile money, inclusive finance regulations, and insurance technology innovations that reduce distribution barriers are aiding the growth of the microinsurance market.
On the other hand, microinsurance is fast becoming one of the most dynamic insurance markets in the Asia-Pacific region, according to the report. The growth of this sector is likely to be driven by the demand for embedded, on-the-go security. However, in countries such as Indonesia, the faster approval process is helping the company invent and roll out new products more effectively.
