Algeria

Improving financial resilience for vulnerable groups

Insurance coverage in Algeria is relatively low. The lack of inclusive insurance and sharia-compliant insurance products may exclude vulnerable groups from essential financial protection, but the State’s important role in managing risks gives little incentive for the development of client-centric, market-based inclusive insurance and risk financing solutions. UNDP is working with Algeria’s government to establish the first-of-its-kind microinsurance regulatory framework, while leveraging the ongoing regulatory progress in developing sharia-compliant takaful insurance to increase financial resilience among the most vulnerable. UNDP is also supporting the development of innovative inclusive insurance solutions and building capacity among industry professionals, regulators and decision-makers.

Incentivizing the development of new insurance products and services across emerging economies

UNDP’s Insurance Innovation Challenges are powering a new generation of insurance products and services tailored to underserved households and businesses in developing economies.

• Active in 25 countries, with an investment of over US$2.1 million 
• Addressing specific barriers and opportunities to scale financial protection, with a particular focus on women, SMEs and other vulnerable groups 
• Creating market opportunities for insurance providers and safeguarding development.