Malawi
Malawi
Earthquake, Drought, Flood
1#61 out of 239 countries and territories (2023)
124% of total employment (2019)
149.9% (2019/2020)
15 life insurance companies, 8 general insurance companies and 1 reinsurer
162% (2022)
1Overview
Malawi is a Least Developed Country (LDC), in which the majority of people depend on small-scale, rain-fed agriculture. Drought and flooding, worsened by climate change, puts agriculture at risk, threatening livelihoods and jeopardizing food security. Insurance and risk finance can help build resilience for vulnerable groups and protect the country’s development.
UNDP’s Insurance and Risk Finance Facility is working with private sector partners in Malawi to create innovative insurance solutions and increase financial education to build resilience in rural communities.
Our projects
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Protecting vulnerable groups through insurance and education
UNDP’s Insurance and Risk Finance Facility has launched the Insurance Innovation Challenge Fund (IICF) in cooperation with the International Cooperative and Mutual Insurance Federation (ICMIF) Foundation to support mutual insurance organizations in creating and distributing innovative and affordable insurance products for the most vulnerable, working directly with grassroots communities to co-create risk models and build resilience and financial protection. In Malawi, UNDP’s Insurance Innovation Challenge Fund is supporting an innovative insurance project aimed at providing health coverage and financial education to low-income people in rural areas, particularly women.
