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In a recent report, insurance giant Swiss Re suggests that frontier markets outside of Brazil, Russia, India and China (such as Vietnam, Azerbaijian and Honduras) present a significant opportunity for insurance as a result of macroeconomic fundamentals.
For those looking to enter these markets, the first mover advantage and local knowledge remains essential, with country-by-country nuances rendering a 'one size fits all' approach unsuitable.
While much of the noise surrounding the need for insurers, reinsurers, and insurance-linked securities (ILS) players to innovate and create solutions that will help to bridge the gap has focused on emerging economies, such as China, Russia, Brazil, and India, Swiss Re has highlighted the opportunity with frontier markets also. "Frontier markets are typically those emerging countries with smaller-sized economies, lower income levels and insurance sectors in the early stage of development," says Swiss Re.
http://seekingalpha.com/article/3975413-scope-re-insurance-growth-frontier-markets-swiss-re
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