Can Interventions Spur Development of the Insurance Sector? : From Examples of World Bank Projects
Section one of the paper provides a broad overview of the nature and objectives of the projects. Section two contains an objective view of the impact of FIRST funded projects on the growth in insurance markets as measured by insurance market penetr...
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| Format: | Report |
| Language: | English |
| Published: |
World Bank, Washington, DC
2020
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| Online Access: | http://documents.worldbank.org/curated/en/900271577688062759/Can-Interventions-Spur-Development-of-the-Insurance-Sector-From-Examples-of-World-Bank-Projects http://hdl.handle.net/10986/33344 |
| Summary: | Section one of the paper provides a
broad overview of the nature and objectives of the projects.
Section two contains an objective view of the impact of
FIRST funded projects on the growth in insurance markets as
measured by insurance market penetration. Rigorous data
analysis was used to isolate exogenous factors other than
the project intervention that may have led to a change in
the insurance premiums as a percentage of GDP. The paper
showcases in section three, the dynamic view and
multipronged approaches to the insurance market development
by highlighting country case studies, with different primary
objectives, towards the overall goal of the insurance market
development. The case studies also consider the specific
insurance market interventions that can stimulate wider
financial sector development objectives. Applying the
drivers and stages discussion as an analytical framework,
section four takes stock of numerous interventions of the
FIRST projects implemented by the World Bank and extracts
some key lessons learned that could be used as a guide to
inform the design of future intervention, and by policy
makers in pursuit of insurance market development. Finally,
section five provides some overarching conclusions and takeaways. |
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