Microinsurance pact signed in Tunisia

Source: Middle East Insurance Review | Jul 2015

Microfinance provider Microcred Tunisia and Compagnie d’Assurance et de Reassurance Tuniso-Europeenne (CARTE), a major insurance company in Tunisia, have signed an agreement giving Microcred customers access to microinsurance services, including loan insurance, offered by CARTE.

The overall goal is to widen financial inclusion by allowing micro entrepreneurs – particularly in disadvantaged areas, who are often excluded from or poorly served by the traditional financial system – access to financial services.

The agreement will allow Microcred’s customers to have insurance cover over their outstanding loan balances, which will protect their families and ensure the continuity of their projects in the event of the death of the policyholder, reported L’Economiste.

Both Microcred and CARTE were reported to have “worked closely to offer a simple, clear and attractive product that will allow thousands of people to benefit for the first time from insurance which suits their needs”.

Other microinsurance products, such as education, savings and health, are also expected to be launched.

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