Insurance Inclusion Index: A two-dimensional measurement of International Insurance Inclusiveness
Abstract
Life insurance density and life insurance penetration are normally used as parameters to measure the insurance sector development. However, there is no measurement of insurance inclusion at the international level. The objective of this study is to construct an Insurance Inclusion Index (III) for select countries across the globe using the data from the Financial Access Survey of IMF (Financial Access Survey - IMF data - international monetary fund 2022). The results depict that six countries have a ‘very high’ insurance inclusion, and four countries have a ‘high’ insurance inclusion. Seven countries are placed at 'medium' level insurance inclusion. Fourteen countries have a 'low' insurance inclusion, and twenty-seven countries have a 'very low’ insurance inclusion. Thus, it is understood that during 2021 out of 58 countries majority of the countries (41) have either low or very low insurance inclusion.
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Copyright (c) 2023 Dr. Sankara Muthu Kumar Sadayan
This work is licensed under a Creative Commons Attribution 4.0 International License.
This work is licensed under a Creative Commons Attribution 4.0 International License.