United nations development programme and IEDF join forces to propel digital insurance development for informal businesses

Gauteng, South Africa 06 December 2023 — The United Nations Development Programme (UNDP) and the Informal Economy Development Forum (IEDF) are pleased to announce their collaborative effort in organizing the groundbreaking Digital Insurance Development Conference, held on December 6th, 2023. The conference brought together key stakeholders from corporate and government sectors to explore innovative solutions for advancing insurance accessibility within informal businesses.

The Digital Insurance Development Conference served as a pivotal platform to discuss and implement a proof of concept aimed at bridging the insurance gap prevalent among informal businesses. By leveraging digital technologies, the UNDP and IEDF seek to empower and protect these businesses, fostering resilience and sustainable development.

Key Highlights of the Conference:

Collaborative Approach: The event fostered collaboration between various stakeholders, including representatives from the corporate sector, government bodies, and development organizations, emphasizing the need for a unified effort to address the challenges faced by informal businesses.

Innovative Solutions: Participants engaged in discussions on cutting-edge digital insurance solutions tailored to the unique needs of informal businesses. The proof of concept unveiled during the conference showcased practical applications of these innovative approaches.

Capacity Building: The conference prioritized knowledge sharing and capacity building, equipping attendees with the tools and insights necessary to drive the digital transformation of insurance within the informal economy.

Policy Advocacy: Recognizing the crucial role of supportive policies, the conference included sessions focused on advocating for policy changes that encourage the integration of digital insurance solutions into the broader economic landscape.

Both the UNDP and IEDF express gratitude to the conference attendees for their active participation and commitment to driving positive change. The collaboration between these two organizations underscores a shared vision for a more inclusive and resilient global economy.

As the digital landscape continues to evolve, the UNDP and IEDF remain dedicated to pioneering initiatives that promote sustainable development and empower businesses at the grassroots level.

For media inquiries, please contact:

Keziah Zachariah

About the United Nations Development Programme (UNDP)

The UNDP works to eradicate poverty, reduce inequalities, and build resilience to crises worldwide. With a focus on sustainable development, the UNDP collaborates with partners to implement innovative solutions that leave no one behind.

About the Informal Economy Development Forum (IEDF)

The IEDF is a leading organization committed to fostering economic development through research, collaboration, and the implementation of impactful initiatives. By bringing together experts from various sectors, the IEDF strives to address global challenges and drive positive change.