A.M. BestTV: Latin America Offers Large Potential Market for Microinsurance, Says A.M. Best Senior Managing Director

By a News Reporter-Staff News Editor at Bioterrorism Week -- In this episode of A.M.BestTV from the LIMRA-LOMA Latin American Conference in New York, NY, Andrea Keenan, senior managing director, A.M. Best, said while insurers in Latin America don't focus on microinsurance as much as they do in other regions of the world, a large potential audience still exists there that could benefit from the product. Click on http://www.ambest.com/v.asp?v=keenan1118 to view the entire program (see also A.M. Best).

Keenan spoke about how insurers perceive microinsurance in Latin America.

"Latin America is a much wealthier region than other microinsurance hubs such as Southeast Asia and Africa, and so microinsurance doesn't receive the same focus from companies as it does in those other regions," said Keenan. "But the potential audience is still in the range of 150 million people."

Still, Keenan said she is optimistic about the growth of microinsurance in Latin America: "Latin American insurance companies have a passion to provide this service and protection to their fellow Latin Americans. In the interest of offering a good product, which is going to help the community and also bring some additional profitability, I do believe that microinsurance has a positive future."

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