Micro-Insurance

Micro-Insurance is increasingly being acknowledged worldwide as an area that needs focus. The market for micro-insurance is huge with many people worldwide falling into low-income groups. There is a need within the low-income groups for increased access to insurance products, but a disparity exists between this need (which does not necessarily translate into demand) and providing appropriate products to this market due to various reasons.

It is therefore important that an enabling environment is created for micro-insurance internationally, and also for micro-insurance in South Africa.

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SAIA believes that this is a very important issue for the industry, and a thorough process was followed resulting in the final SAIA submission of the discussion paper on ‘Reforming Micro-Insurance in South Africa’ to National Treasury, which included both a holistic overview of the short-term insurance industry in relation to micro-insurance as well as specific comment on the Discussion Paper in the format National Treasury requested.

The discussion paper sought to suggest a framework for developing a coherent micro-insurance framework in South Africa, with a view to addressing specific current problems and shortcomings as well as to facilitate future development in this arena.

>> Click here to download the National Treasury Micro-Insurance Discussion Paper
>> Click here to download SAIA’s comment on the National Treasury Micro-Insurance Discussion Paper

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The South African Insurance Association
Association Incorporated under Section 21
Registration No.1998/25543/08

Postal address:
PO Box 30619
Braamfontein
2017

Physical address:
3rd Floor, JCC House
27 Owl Street
Milpark

Contact detail:
Tel: +27 11 726 5381
Fax: +27 11 726 5351
Email: info@saia.co.za

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Micro-Insurance

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