ICII 2025 EXPERIENCE – QUITO, ECUADOR

The numbers are clear and compelling: nearly 90% of the world’s vulnerable population lacks adequate financial protection to face serious and unexpected events.

According to the “Landscape of Microinsurance Study – 2024” by the Micro Insurance Network (MiN), only 344 million out of the 3 billion people living in the 37 low-income countries analyzed have access to protection.

Low-income countries are defined as those where inhabitants earn between $1 and $20 per day. Of the 37 countries analyzed, 15 are in Africa, 11 in Asia-Pacific, and 11 in Latin America and the Caribbean.

Millions of people go about their daily lives hoping that nothing serious will happen to them—or simply ignoring that possibility. However, realities such as global warming, increasingly intense natural phenomena, and food security represent risks that humanity is exposed to and that must be carefully analyzed.

Insurance is one of the most important and effective tools ever created by humankind to face uncertainty. Since ancient times, people have sought ways to cope with adverse events, based on a profoundly noble principle: solidarity. This principle is rooted in the idea that the contribution of many can help those affected by severe and unexpected events.

In mid-October, Quito hosted a highly relevant event for both the insurance sector and society at large: the International Conference on Inclusive Insurance (ICII). For an entire week, the conference provided an exceptional platform for all stakeholders to share their knowledge, ideas, and valuable experiences. The goal was to ensure that more people gain access to innovative initiatives across countries—especially those with greater needs for financial inclusion and protection gap reduction.

Delegations and representatives from all five continents generously shared valuable insights about the creation of impactful initiatives in their respective countries. The learning came not only from their successes but also from the challenges faced during different stages of development.

These reference cases will need to be adapted to local realities by other participants, enabling them to accelerate the development of their own initiatives. The contributions of government entities, as well as international organizations and institutions, are essential for coordinating and aligning objectives and for generating the necessary resources and funding.

The success of these initiatives requires the contribution of multiple stakeholders: international organizations, donors, governments, authorities, and regulatory bodies (public sector); insurers, reinsurers, and intermediaries (insurance sector); cooperatives, microfinance institutions, and banks (financial sector); as well as service, technology, communications, and connectivity companies (services sector), along with associations, innovators, and entrepreneurs. It is important to remember that this process is not a final destination but an ongoing journey—one in which every small step is fundamental.

The microinsurance market is very particular: it operates with extremely limited resources and demands highly agile responses. After a serious event affecting a person or family, every day counts in the recovery and continuity process. Therefore, value propositions must deliver maximum benefit to the end user, and claims payments should occur within days, not weeks. As one speaker mentioned, the best “marketing campaign” in microinsurance is the quick payment of claims, since it generates “trust”—the most precious asset of all.

Detailed experiences from countries such as Argentina, Colombia, Costa Rica, Ecuador, El Salvador, Gambia, Guatemala, India, Peru, Rwanda, and Somalia (listed alphabetically) illustrated the ongoing process of developing microinsurance and protection initiatives in areas such as agriculture, life, personal accident, and property protection, among others. These examples offered firsthand perspectives on both significant progress and the long road ahead, sparking strong motivation and engagement through conferences, panels, and practical workshops.

In this context, one of the main enablers is technology—particularly digital platforms—which make it possible to structure channels quickly and efficiently so that microinsurance and inclusive insurance reach the population. In this regard, technology and proximity are both essential: the former facilitates access, while the latter builds trust. Thus, technology becomes a tool for the common good, connecting people and serving as a gateway to protection, inclusion, and prevention.

As Gangkhar representatives attending the convention, we had the opportunity to present this same vision. Initiatives like Gangkhar’s reinforce the transformative role of technological infrastructure and innovation within the insurance ecosystem. Through its Sherpa+ platform, Gangkhar develops modular, open-integration solutions that enable insurers, fintechs, and digital platforms to offer embedded and accessible insurance instantly. This ability to orchestrate products, data, and distribution in real time represents a tangible step toward expanding access to protection—demonstrating how technology can serve as a bridge between financial inclusion and social resilience.

The event’s closing was deeply emotional. The words of Lorenzo Chan Jr. (Chair of the Board – MiN) were particularly heartfelt, as he delivered a speech in perfect Spanish with a remarkably positive and inspiring message—especially as he concluded his five years of outstanding leadership.

Spaces like the one created by ICII 2025 in Quito allow us to witness and experience the noblest essence of humanity: solidarity and collective work for the common good—beyond countries, borders, races, or beliefs. Undoubtedly, gatherings of this kind are a breath of fresh air amid today’s turbulent world.