全球保险保护差距：评估和建议

The Geneva AssociationThe Geneva Association is the leading international insurance think tank for strategically important insurance and riskThe Geneva Association identifies fundamental trends and strategic issues where insurance plays a substantial role or whichinfluence the insurance sector. Through the development of research programmes, regular publications and the organisationof international meetings, The Geneva Association serves as a catalyst for progress in the understanding of risk and insurancematters and acts as an information creator and disseminator. It is the leading voice of the largest insurance groups worldwidein the dialogue with international institutions. In parallel, it advances—in economic and cultural terms—the development andapplication of risk management and the understanding of uncertainty in the modern economy.The Geneva Association membership comprises a statutory maximum of 90 chief executive officers (ceos) from the world’stop insurance and reinsurance companies. It organises international expert networks and manages discussion platforms forsenior insurance executives and specialists as well as policy-makers, regulators and multilateral organisations. The GenevaAssociation’s annual General Assembly is the most prestigious gathering of leading insuranceceos worldwide.established in 1973, The Geneva Association, officially the “International Association for thestudy of Insuranceeconomics”,has offices in Geneva and Basel,switzerland and is a non-profit organisation funded by its members. management issues. 1www.genevaassociation.org@TheGenevaAssocThe Global Insurance Protection GapAssessment and RecommendationsA GenevAAssocIATIonReseARch RePoRTedited by Kai-Uwe Schanz and Shaun Wang The Global insurance protection Gap—Assessment and recommendationsGeneva | Route de Malagnou 53,ch-1208 Geneva | Tel:+41 22 707 66 00 | Fax: +41 22 736 75 36Basel | Sternengasse 17, CH-4051 Basel | Phone +41 61 201 35 20 | Fax +41 61 201 35 29secretariat@genevaassociation.org www.genevaassociation.orgcover Washingtonstate flood, fotolia/dschreiber29; p. 14:shutterstock/yankane; p. 15:shutterstock/Americanspirit;p. 23:shutterstock/Blueskyestudio, p. 33:shutterstock/achiaos; p. 39:shutterstock/Paolo Bona, p. 40:shutterstock/wavebreakmedia; p. 44:shutterstock/cameliavarsescu; p. 49:shutterstock/silken Photography; p. 52:shutterstock/Zouzou.The Global Insurance Protection Gap—Assessment and Recommendations© The Geneva AssociationPublished by The Geneva Association (The International Association for thestudy of Insuranceeconomics), Geneva/Basel.The opinions expressed in The Geneva Association newsletters and publications are the responsibility of the authors. We thereforedisclaim all liability and responsibility arising from such materials by any third parties.Download the electronic version from www.genevaassociation.org Photo credits:november 2014 www.genevaassociation.orgCONTENTS5fOrEwOrd7ExECuTivESummAry7Measuring underinsurance7Quantifying underinsurance8Root causes of underinsurance8closing the gap13NON-lifEiNSurANCE13Unadjusted insurance penetration14Case study 1: Why is commercial earthquake insurance penetration in Japan so low?15Case study 2: Earthquake underinsurance in California18Benchmarked insurance coverage19Protection gap23lifEANd pENSiONSiNSurANCE23The life protection gap26The pensions/savings gap30capturing the potential33rOOTCAuSESOf uNdEriNSurANCE33economic reasons for not fully insuring33Lack of awareness35Lack of affordability35Immature regulatory frameworks36Limits to insurability39ClOSiNGThEiNSurANCEGAp: whATCANbEdONE?39Promote financial literacy and risk awareness40Case study 3: A lack of financial planning and awareness of recent pension reform amongst the U.K. population41Case study 4: Evaluating the impact of a radio-based insurance awareness campaign in Kenya41Promote micro-insurance42Case study 5: Impressive growth of micro-insurance coverage in Latin America and the Caribbean (LAC)43Build public-private partnerships (PPPs)44Case study 6: Mexico’s ‘MultiCat’ catastrophe bond programme44Case study 7: Agricultural insurance in China45Develop new products47Case study 8: The low popularity of annuity products47Case study 9: Transferring longevity risk to capital market investors and reinsurers48enhance product clarity and transparency48help businesses assess and anticipate exposures49Case study 10: Australia flood insurance50create a conducive regulatory, legal and tax environment51establish effective compulsory schemes52Case study 11: Boosting insurance penetration in high-income Gulf States through compulsory health insurance53collective data collection and sharing54Case study 12: The Life & Longevity Markets Association (LLMA)55CONCluSiONS57rEfErENCES61AbOuTThEAuThOrS @TheGenevaAssoc The Global insurance protection Gap—Assessment and recommendationsAcknowledgementsThe following individuals have contributed to this report:•Giovanni Millo and Lorenzosavorelli of Assicura