Emerging customers are in a precarious middle position. Their incomes are often too high to qualify for the limited social protections that exist for the poorest in their countries, but they have not yet reached the level that would give them access to traditional private insurance. Many are part of the informal economy and, as self-employed workers or owners of a micro, small or medium-sized enterprise (MSME), they do not enjoy employee benefits. Without formal protections, their transition to the middle class is akin to a game of chance, and they are always at the mercy of illness, the theft of a bicycle or the burning of a place of business.
In addition, the income of emerging customers is often unpredictable, and they do not always know what tomorrow will bring. Long-term insurance policies are therefore poorly suited.
Finally, the sale of traditional insurance depends heavily on agents and brokers who mainly target high-end customers in urban areas.