With a view to improving the financial inclusion among low-income population in the country, the Colombian government has formulated a Financial Inclusion Strategy and National Plan of Development, which considers insurance as a main component. With this goal in mind, the Superintendencia Financiera de Colombia, Bancoldex - Banca de las Oportunidades, the IADB (Fomin) and A2ii, through their joint project, have supported a microinsurance country diagnostic in Colombia. The report analyzes how the microinsurance development in Colombia has been mainly driven by its insurance industry efforts and how demand factors and insurance regulation have also had an impact on it. It also proposes a series of recommendations for further work of each group of relevant stakeholders of insurance market.
Authors: A. Camargo, C. Tatin-Jaleran, L. Furst Gonçalves
Published by Superintendencia Financiera de Colombia, Banca de las Oportunidades, IADB/FOMIN