Advancing Financial Inclusion Through Access to Insurance: The Role of Postal Networks

This study delves into the potential of postal networks to transform into well-suited providers of insurance. Through the experience of six Posts of developing countries – Kazakhstan, Burkina Faso, Kenya, Morocco, Zambia and India – the paper presents three types of business models for postal insurance:

• Agency partnership – The Post collects premiums, disburses claims/benefit payouts and issues policies on behalf of one or more insurance companies.
• Full-fledged partnership – The Post offers insurance products in partnership with an insurance company and assumes more responsibility in all stages of the operation, including potentially product development.
• Own insurance – The Post carries the risk and offers its own insurance products.

The study concludes by providing recommendations for posts, insurance companies and policymakers on how they can work together to expand insurance coverage in their countries.