Companies like Allianz (which offers specialized migrant insurance in Europe) and Generali (via The Human Safety Net) are already demonstrating what is possible when we build for groups that are often excluded from the financial system, such as low-income families, women, minorities, and migrants.
This is why it is important:
1.A Huge, Untapped Market
Because traditional products were not designed for them, millions of people still without insurance, not because they choose to. Insurance companies can access a market worth between €4 billion and €14 billion in Europe alone by creating adaptable, less expensive, needs-based solutions and marketing them online.
2.Rethinking the Acquisition of Customers
We do not only sell policies when we meet new consumers where they are, with respect, knowledge, and accessibility. We establish trust. The focus shifts from “are I eligible?” to “how can I get started?” with inclusive insurance.
3.Innovation in Products That Truly Help
Consider community-based health plans, job-linked vehicle insurance, short-term policies, or micro-coverage. We may customize services to fit people’s actual lives, not just hypothetical ones, by making intelligent use of data and behavioral insights.
4.A Strategy That Is Future-Proof
Since the G20, ESG frameworks, and regulators all favor equity and inclusivity, insurers who take the initiative now will influence the future and win over the whole new clientele.
The bottom line?
Building a sector that reflects the real world we live in, growing responsibly, and future-proofing relevance are all made possible by inclusive insurance.
