Inclusive insurance and risk financing in the Dominican Republic. Snapshot and way forward 2024
Inclusive insurance and risk financing in the Dominican Republic. Snapshot and way forward 2024
Inclusive insurance and risk financing in the Dominican Republic. Snapshot and way forward 2024
May 07, 2024
This report presents the main findings of UNDP’s inclusive insurance and risk finance country diagnostic for the Dominican Republic. It sets out key risks, the current inclusive insurance and disaster risk finance landscape, and recommendations to advance inclusive insurance, risk finance and development.
The Dominican Republic’s main risks include tropical storms, flooding, earthquakes and drought. Inclusive insurance penetration has been pushed mainly by microfinance institutions, while insurtechs have helped build distribution channels. The country has no disaster risk financing strategy and relies heavily on ex post financing mechanisms.
Recommendations developing an enabling microinsurance regulatory environment; developing a national disaster risk financing strategy; and building capacity and use of ex ante instruments.
