Extending mutual microinsurance to 5 million uninsured households in five countries over five years.

Colombia

What is the landscape for mutual microinsurance in Colombia? 

Colombia boasts the highest microinsurance coverage ratio in South America, and has the highest GDP per capita in comparison to the other four countries involved in the 5-5-5 Strategy. Despite this, 5.6% of the population in Colombia live below the poverty line, mainly in rural areas, and are vulnerable to the impacts of climate change.

Where are we now? 

The country diagnostic stage of the 5-5-5 project in Colombia began in August 2016. Consultancy firm INSPOWERING, led by Colombian lawyer Andrea Camargo Garcia and her team, will use various resources to provide a snapshot of the mutual microinsurance sector in Colombia.

Photo shows: Focus group discussion with potential microinsurance policyholders in Humanes Mar during country diagnostic research phase