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Microinsurance proving popular in Mexico

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The Mexican insurance association AMIS has been working on a microinsurance pilot in collaboration with a government agency called Pronafim (National Program for Microfinance). So far they have sold in excess of 50,000 microinsurance life policies which is great market penetration for a new type of product.

The next phase of the pilot will see the product offering broadened to include P&C (including weather index insurance we have heard) and health microinsurance products. They intend to see 200,000 policies more in the next few months, ambitious but if achieved it will make Mexico one of the biggest microinsurance markets in the world.

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