Mitihoon – Generali, in partnership with the United Nations Development Programme (UNDP), today hosted the regional conference “Protecting the Future: Building MSME Resilience in Asia” to strengthen the resilience of Asia’s micro, small, and medium enterprises (MSMEs) against rising risks.
The UNDP-Generali partnership aims to close the protection gap for vulnerable communities worldwide by expanding access to insurance. The initiative reflects both organizations’ broader mission to raise awareness, develop tools and empower MSMEs to drive sustainable growth.
The event unveiled new UNDP–Generali research, which show that while MSMEs account for up to 99.9% of all businesses in South and Southeast Asia, 95% of MSMEs are not financially protected by insurance when market shocks occur or disasters strike. The research outlines a set of solutions to building the resilience of critical value chains in Thailand, Malaysia and India, including how to develop insurance solutions that support women-led MSMEs.
Generali and UNDP launched the “MSME Health & Well-being Toolkit” – a publicly accessible tool to support Thai MSMEs’ understanding and management of health risks related to air pollution. The toolkit has been developed in response to illness being widely cited by MSMEs as their most common vulnerability.
The winners of the UNDP-Generali Insurance Innovation Challenge in Thailand were announced. TruNord Technologies and Clean Technology and Innovation will each receive US$40,000 alongside technical assistance to develop their innovative insurance solutions tailored to the local needs and realities of Thailand’s MSMEs.
Generali and UNDP announced the next phase of their partnership. The next three years will see the partnership build on previous successes in Malaysia and Thailand while looking to expand into new markets across Asia, starting with India. The partnership combines Generali’s global insurance expertise with UNDP’s development capabilities, promoting inclusive growth, risk awareness, and long-term sustainability.
The event, hosted by UNDP and Generali, gathered high-level representatives from the Italian Embassy to Thailand, Thailand’s Ministry of Finance, a variety of local institutions, SME and MSME associations, as well as leaders from the financial and insurance sectors. Together, they shared insights and proposed concrete strategies for strengthening MSME resilience against workforce health risks as well as the impacts of climate change, natural disasters, and other emerging challenges.
Ms. Kanni Wignaraja, UN Assistant Secretary-General and UNDP Regional Director for Asia and the Pacific, said: “The 95% MSME protection gap across Asia Pacific isn’t just about a financial loss; it traps countless young entrepreneurs, particularly women, in highly vulnerable micro-businesses and restricts rebound and growth. UNDP and Generali demonstrate a new age of partnerships that boldly insures innovation and empowers entrepreneurs in stable or crisis contexts.”
Mr. Roberto Leonardi, Generali Asia Regional Officer, said, “It’s with great pride that Generali works alongside UNDP in our shared mission to close the protection gap for MSMEs in Thailand and across Asia, and ensure this essential community of businesses have the protection and support they need to achieve the success they deserve. By uniting around a common purpose, we have been able to put our strengths together to drive meaningful change and make insurance accessible to those businesses who need it most. I’m very encouraged by the impact to date and have every confidence that we will accelerate our efforts in the years to come.”
Mr. Arsh Kaumi, Country Manager & CEO of Generali Thailand, said: “MSMEs are the backbone of Asia’s and Thailand’s economy – driving growth and creating jobs. Empowering them with effective risk management tools is key to resilience and long-term success. We are proud to collaborate with UNDP and others to deliver solutions that not only support these businesses but also contribute to Thailand’s sustainable growth. Insurance plays a vital role in ensuring continuity, and this initiative reflects Generali’s and UNDP’s shared commitment to equipping Thai MSMEs with the protection and resources they need to grow and thrive sustainably in the future.”
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