Sri Lanka
Sri Lanka
Tsunami, Drought
11.1% (2022)
129 insurance companies
126% (2022)
12.9% (2016)
10%
1Source: The Microinsurance Network, Landscape of Microinsurance 2023, Based on target population estimate for Sri Lanka of 20,670,326 people
https://microinsurancenetwork.org/resources/the-landscape-of-microinsurance-2023
#60 out of 239 countries and territories (2023)
145% of total employment (2020)
1Overview
Sri Lanka’s ongoing economic crisis is deepening poverty and putting further financial pressure on the most vulnerable groups. Climate change is increasing the stress in both rural and urban areas, as drought and tsunamis become more frequent. Greater financial protection is needed for those most affected.
UNDP’s Insurance and Risk Finance Facility is working with industry partners to build financial resilience for women and small businesses through targeted insurance development.
Our projects
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Providing tailored resilience solutions to women in MSMEs
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 Sri Lanka, UNDP’s Insurance Innovation Challenge Fund is supporting an innovative insurance product aimed at providing tailored protection to women entrepreneurs in MSMEs, with a particular focus on women in rural and semi-urban areas.
