Malaysia

Building small business resilience through risk management

UNDP is collaborating with leading insurance company Generali to develop small business resilience in Malaysia, boosting a sector that provides 48% of total employment in the country. As part of this collaboration, an SME Loss Framework has been developed, offering guidance to help small businesses manage risk in the face of climate challenges. The cooperation is also resulting in the creation of valuable research and thought leadership on resilience among MSMEs.

Safeguarding small businesses with innovative insurance products

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

In Malaysia, UNDP’s Insurance Innovation Challenge, in cooperation with Generali, one of the world’s largest insurance companies, is supporting the development of a microinsurance product aimed at MSMEs, which form the backbone of the country’s economy. Available through a fully digital platform, the product will offer comprehensive commercial risk cover as well as flexible options for MSMEs based on level of growth and maturity. It aims to reach 60,000 MSMEs in its first year.