Inclusive Insurance: A Tool for Building Resilience
Anadolu Insurance and the Industrial Development Bank of Turkey (TSKB) published a joint study emphasizing the role of inclusive insurance as a strategic tool for strengthening economic and social resilience. The analysis, authored by TSKB Senior Manager of Economic Research Şenay Akyıldız, assesses inclusive insurance as both a financial product and a development instrument that enhances the capacity of households, SMEs, and producers to withstand economic shocks.
Protection and Inclusion Gaps Highlighted
The study points out that households lacking insurance coverage often face financial strain due to risks such as health expenditures, climate-driven disasters, agricultural losses, and income disruptions. It underlines that inclusive insurance aims to prevent these risks from turning into long-term welfare losses. The report also draws attention to the protection gap—the difference between total economic losses and insured losses—and the inclusion gap, representing socio-economic groups excluded from insurance systems. Findings from international research show that low-income individuals, youth, and immigrants have lower insurance ownership rates, indicating that inclusivity is a global issue.
Behavioral Change and Collaboration Models
The analysis emphasizes that inclusive insurance fosters behavioral change by encouraging long-term financial planning and investment decisions. It also highlights the importance of collaboration between insurers, reinsurers, banks, and value chain stakeholders to expand coverage and manage risks more effectively. For Turkey, inclusive insurance is identified as a strategic area of focus, particularly in agriculture, among SMEs, and for households with irregular income streams.
Accessible Study and Recommendations
The article titled ‘Inclusive Insurance: Building Resilience’ is available on Anadolu Insurance’s official sustainability page. The publication offers key policy insights and implementation recommendations supporting Turkey’s sustainable development and economic resilience goals.
