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The Role of Data in Inclusive Insurance

This paper identifies five ways data trails are leveraged by private sector actors, including insurance carriers and technology providers, to offer “inclusive insurance” for low-income groups and other excluded segments like rural small-holder farmers and gig workers. It discusses how data-driven approaches help design tailored insurance products, inform risk-based pricing strategies, and enhance customer acquisition and retention through collaborations with local organizations and online platforms. The paper also explores how insurers use data to improve customer experience, streamline claims management, and boost fraud detection capabilities, emphasizing the potential for expanding data usage in insurance to serve underserved customers more effectively and sustainably.

• Resource type Paper
• OrganisationCGAP
• RegionGlobal
• CountryBrazil, Colombia, India, Nigeria
• LanguageEnglish
• Keywords Insurance, Innovation, Data Analytics, inclusive insurance