There are multiple reasons why individuals, households and firms buy less insurance than is economically beneficial, related to both demand- and supply-side factors. Root causes also vary across stages of economic development.
This infographic accompanies the report: Understanding and Addressing Global Insurance Protection Gaps
Insurance can help address concerns about the sustainability of publicly-funded healthcare systems, as well as the unpredictability of cyber risk, says Kai-Uwe Schanz, Special Advisor at The Geneva Association.
Watch the previous interview, Root causes of insurance protection gaps lie with both demand- and supply-side factors.
On the demand side, factors include affordability and trust; and on the supply side, transaction costs and limits to insurability hold back insurance supply, say Kai-Uwe Schanz, Special Advisor at The Geneva Association.
Watch the second interview, Insurance protection gaps in healthcare and cyber feature distinctive challenges.
The insurance protection gaps in healthcare and cyber risks are not sufficiently researched even though their respective protection shortfalls are more dramatic than for natural catastrophe risk, according to the study Understanding and addressing global insurance protection gaps released today by The Geneva Association.
Also of interest:
Goverments, employers and insurers play a role in overcoming undersaving, says Alexander R. Wynaendts, CEO and Chairman of Aegon.
For more related videos, visit The Geneva Association YouTube channel.
Communities have not saved enough for their future and this needs to be addressed collectively and brought to the public’s attention, says Alexander R. Wynaendts, CEO and Chairman of Aegon.
For more related videos, visit The Geneva Association YouTube channel.
