Micro-Life insurance in Rural Mexico: AMUCSS & Zurich Financial Services
The rural poor represent a vastly underserved market for life insurance. When a wage-earning relative dies, burdensome funeral costs and reduced household incomes often devastate already impoverished families, leaving millions of people vulnerable to needless economic shocks. The Mexican Association of Social Sector Credit Unions (AMUCSS) has partnered with global insurance giant Zurich Financial Services to ease that burden, designing and selling life insurance policies to rural, poor Mexicans. AMUCSS provides on-the-ground know-how and distribution networks for the operation, while Zurich assumes the financial risk. Their partnership now insures more than 25,000 indigenous Mexicans a year, helping to ease rural poverty and creating a new insurance market with broad potential for growth.