At the Annual Conference of the IAIS (International Association of Insurance Supervisors), the largest gathering of insurance supervisors, taking place for the first time in the Balkan region, in Tirana, Rama said that micro-insurance can help in this regard.

In the case of Albania, the prime minister stressed that despite efforts for better insurance coverage, many families and small businesses still remain without the necessary protection.

According to the prime minister, disasters such as floods, fires, earthquakes can cause that damage and destroy years of hard work by leaving them unprotected.

“The path forward is clear. We need to expand our insurance nets to include more individuals, sectors and types of risks and ensure that these solutions can be taken by everyone,” Rama added.

Rama emphasized that, “The positive side of this bleak picture is that there are solutions and digital platforms are emerging that are empowering us to expand our reach, especially to underserved communities.”

“The ongoing digital evolution we are going through aims to create more efficient, more accessible attractions, including insurance. The obligation to our citizens is to help them see insurance as an essential part of their lives and as an investment in their future,” Rama added.

Innovative insurance strategies, according to him, offer the promise of resilience for all.

“Initiatives such as micro-insurance can help expand coverage to include small businesses and low-income individuals, closely linking social security with market-oriented solutions. When done successfully, comprehensive insurance guarantees security,” Rama added.

Meanwhile, the prime minister highlighted that the policy harmonization between countries builds a stronger response to crises./r.e/a.f/p.s./