Inclusive Insurance

Tensions in the world are exacerbated by economic disparities amongst populations; today, these disparities are being amplified due to insufficient safety nets for vulnerable populations to effectively manage risks in the developing world. The role of insurance is to protect people over the long term, thereby contributing to both economic growth and social stability. Within an inclusive economy, insurance can play a role in economic development by avoiding a return to precariousness in case of unforeseen circumstances. Indeed, putting in place insurance mechanisms is a means in itself to help a country develop economically. As one of the world’s leading insurance groups, AXA is taking its responsibility to aid economic development in emerging countries to the next level through innovation, new technologies, partnerships and multilateral cooperation. Concretely, • AXA has developed inclusive insurance schemes to offer affordable and accessible coverage to emerging customers. • AXA has developed parametric insurance offers to reduce the time needed to compensate vulnerable populations when an extreme weather event or natural disaster occurs. • AXA is building public-private partnerships to reinforce governments’ capacity to protect vulnerable populations from natural catastrophes. • AXA has taken a leadership role within the Insurance Development Forum (IDF) to help optimize the potential of the insurance sector as a whole to secure resilience for vulnerable populations.