Generali and UNDP drive MSME resilience across Asia

Generali and the United Nations Development Programme (UNDP) have announced the next phase of their partnership to close the protection gap for vulnerable communities and expand insurance access to strengthen the resilience of Asia’s micro, small, and medium enterprises (MSMEs). The UNDP–Generali partnership aims to raise awareness, develop practical tools, and empower MSMEs to drive sustainable growth in rapidly evolving markets.

Building on previous successes in Malaysia and Thailand, the next three years will focus on scaling impact across the region, with India as the next expansion market. The partnership combines Generali’s global insurance expertise with UNDP’s development capabilities, promoting inclusive growth, risk awareness, and long-term sustainability.

The announcement of the partnership renewal, alongside new research findings, came during the regional conference “Protecting the Future: Building MSME Resilience in Asia” held in Bangkok, where the two organizations unveiled new UNDP–Generali research illustrating the urgency of MSME protection.

Although MSMEs represent up to 99.9% of all businesses in South and Southeast Asia, 95% lack financial protection against market shocks or disasters. The research highlights solutions to strengthen value-chain resilience in Thailand, Malaysia, and India, including approaches to developing insurance solutions that support women-led MSMEs.

Generali and UNDP also launched the MSME Health & Well-being Toolkit, a publicly accessible resource designed to help Thai MSMEs better understand and manage 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.

Generali and UNDP have also announced the two winners of the UNDP–Generali Insurance Innovation Challenge in Thailand:

• TruNord Technologies, which will scale digital inclusive insurance for MSME workers by embedding micro-health and life insurance into workflows such as payroll systems, merchant networks, and gig-work platforms. This seamless enrolment, in partnership with Chaz Brokers, will help expand insurance reach among MSMEs by reducing search costs and time.
• Clean Technology and Innovation’s SMEPrakanp.ai - an AI-Powered Insurance Platform enabling MSME owners to compare and select insurance packages suited to their business risk protection needs. Partnering with Dr. Prakan Insurance Broker Co., this platform will promote digital transformation and insurance education in Thailand.

Each will receive US$40,000 and technical assistance to develop innovative, market-relevant insurance solutions tailored to the local needs and realities of Thailand’s MSMEs.

The conference brought together high-level representatives from the Italian Embassy to Thailand, Thailand’s Ministry of Finance, local organizations, SME and MSME associations, as well as leaders from the financial and insurance sectors to share insights and propose strategies to strengthen MSME resilience against workforce health risks, climate impacts, natural disasters, and other emerging challenges.

UN Assistant Secretary-General and UNDP Regional Director for Asia and the Pacific, Ms. Kanni Wignaraja, emphasized the significance of addressing the region’s MSME protection gap: “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, reaffirmed Generali’s commitment to this mission: “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, highlighted the importance of MSMEs to the region’s economic fabric: “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.”

Discover more about Generali’s commitment to building MSME resilience across Asia