The insurance industry stands at $7 trillion globally. Unfortunately, it has traditionally been a sector that has taken time to adopt full-scale digitalization. 

Insurtech, a portmanteau of insurance and technology inspired by fintech (finance and technology), aims to find cost savings and efficiency in the current insurance industry model.

Multilateral development banks working with the private sector have a dual mandate: maximizing positive social and environmental impacts while maintaining financial sustainability.  

To support this mandate, development banks seek to provide financing at terms and conditions not available in local markets, targeting these resources to projects they consider have significant developmental impact potential. 

However, financing potentially impactful projects at more favorable terms does not automatically ensure the desired outcomes will be realized. 

In the realm of economic development, the private sector can contribute to poverty reduction by providing employment and through initiatives to improve the well-being of workers and their families. 

Understanding the living conditions and hardships facing employees and their families is key for making strategic decisions that contribute to closing gaps while positively impacting companies' productivity and competitiveness.

This is the year for investors and the region to accelerate progress toward the UN Sustainable Development Goals (SDGs) and the Paris Agreement.

Picture: A digitally rendered image of the finished project.

Guatemala's traffic is a daily struggle for millions, with congested, poor-quality roads hampering mobility, access to essential services, and economic growth.

The Central American Highway 2 West (“CA-2 Occidente”) road, a vital artery that connects Guatemala with Mexico and El Salvador, is a case in point.