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SDG 3: Good Health and Well-being

Health & development are inextricably linked. Healthy people are fundamental to secure and prosperous societies.  

Between 2000 and 2010, approximately 100 million people were pushed into extreme poverty and every year over 800 million people suffered a financial catastrophe because of out-of-pocket health expenses (WHO and World Bank 2019).  Many people facing financial hardship sell assets, go into debt, or reduce their consumption of other necessities (Saksena, Hsu and Evans 2014). To avoid such consequences, others forego health services from the outset.

The impoverishing effects of inadequate safety nets are concentrated in developing countries but are by no means limited to them. 

In Africa and Asia, low-cost health products, particularly hospital cash products, have consolidated over recent years to become a key microinsurance offering.  Additionally, in Africa, Asia and Latin America, insurers are strengthening their links with health services, including bundling their products with telehealth services. 


In focus: the pandemic risk

Covid-19 has both revealed the need for new types of coverages but also weaknesses in existing covers. It highlighted the limitations of what could be insured and the need for public-private formal and informal partnerships, knowledge sharing among stakeholders and countries.

The impact is particularly devastating for the poorest and most vulnerable. Pandemic insurance or coverage is uncommon and without the direct intervention of stakeholders such as the insurance industry, policymakers and financial sector supervisors’ alike, consumers will remain vulnerable and exposed. 

The role of supervisors

While supervisory responses to the pandemic have been rapid, varied and contrasting, it remains important for supervisors to collaborate with other stakeholders and develop long-term solutions to address this and future pandemics.

Collective efforts and mechanisms powered by the capacity-building of supervisors can harness Covid-19-accelerated digitalisation in the insurance sector to drive meaningful innovation and the emergence of new and improved insurance health solutions.

Collaboration with policymakers and the private sector will be significant in driving the process of bridging the protection gap.

A2ii work on SDG 3


A2ii-IAIS Pandemic Risk Webinar Series

The first webinar of this three-part series explored on-going public-sector initiatives including catastrophic risk insurance facilities and programmes to address the protection gap. 

Watch the video or read the related blog post: The pandemic proposition – a stronger insurance front for sustainable development


The second webinar, as part of the A2ii-IAIS Pandemic Risk series focused on public-private initiatives, drawing parallels with work on climate risk.

Watch the video:


The third webinar of the series was restricted to insurance supervisors. 

♦ Covid-19 Insurance Supervisory Response Tracker 

Early in 2020, the A2ii set up a special page on our website dedicated to tracking worldwide supervisory responses to Covid-19, insurance news and learning resources (such as webinars).

♦ Closing the Health Financial Protection Gap: Expanding Access to Health Insurance in Times of Crisis and Beyond - Public Dialogue 30 September 2021

♦ Expanding access to health insurance in times of crisis and beyond - blog

♦ A2ii-IAIS Public Dialogue on Pandemic Risk: Opportunities to Improve Insurability

♦ The pandemic proposition – a stronger insurance front for sustainable development - blog


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