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Senegal: Launch of micro-insurance pool

07.05.2013

Six Senegalese insurance companies have partnered to create the Micro Health Insurance Pool (PMAS), which was launched this week in Dakar.

 Six Senegalese insurance companies have partnered to create the Micro Health Insurance Pool (PMAS), which was launched this week in Dakar.

"The objectives and tasks of the PMAS are not only limited to medical care. The PMAS also aims to promote prevention, education and raise public awareness of the insurance culture," said the pool in a statement released by APS news agency.

The PMAS also offers its services to pension and microfinance institutions, mutual health organisations, local communities and the state.

It provides them with a platform to manage their portfolios, solidarity funds or mechanisms of social protection for the poor and vulnerable populations who have never had access to health coverage.

Microinsurance is considered as an essential link in the micro-economic system as it can efficiently support the development of micro, small and medium-sized companies.

The potential for development is important: according to a study carried out in 2009 by the microinsurance innovation fund of the International Labour Organisation, 14.7 million Africans living with less than $2 (€1.5) a day are actually covered by microinsurance products, which represents 2.6 percent of the African population entering the revenue bracket.

 ADNFCR-2976-ID-801581591-ADNFCR