The Global Insurance Potential Index (GIP-MAPFRE) is an indicator whose purpose is to provide a comprehensive view of the opportunities and challenges in the world of insurance. This index is based on a series of indicators and metrics that assess the capacity of insurance markets to create and consume the so-called Insurance Protection Gap (IPG), i.e., the difference between the need for protection and the actual existing coverage. According to this report, in 2022, the global insurance gap reached $7.8 trillion, up 14.3% from the previous year, equivalent to 7.8% of global GDP. 69.1% of this figure is distributed in the Life insurance segment and the remaining 30.9% in the Non-Life segment. Furthermore, more than 77.6% of the current insurance gap is in emerging markets, indicating their great growth potential.
Insurance