Guyana, Barbados, and Colombia
In order to assess the market for an online insurance offering, determine the number of uninsured smartphone users/owners aged 28-45 with stable income, in each of the following countries: Guyana, Barbados, and Colombia.
- The total unemployment rate in Guyana among adult males is 5.3% and 9.3% for adult females.
- The Guyana has universal healthcare that can be supplemented with private insurance. Only a very small percent of the population can afford private health insurance.
- In 2017, 643,210 people had mobile phone subscriptions.
- In 2017, 37.33% of the population used the internet.
- The total population of Guyana is 785,063.
- 33,105 females in Guyana are aged 25-29, 21,953 females in Guyana are aged 30-34, 24,586 are aged 35-39, and 22,705 are aged 40-44.
- Of males in Guyana, 34,806 are aged 25-29, 22,081 are aged 30-34, 24,489 are aged 35-39, and 22,595 are aged 40-44.
Proposed next steps:
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Very limited information was available to determine the number of uninsured smartphone users/owners aged 28-45 with stable income in Guyana. Additionally, very limited information was available on the number of uninsured individuals for any type of insurance. Therefore, we recommend shifting research paths to identify 3 major insurance companies in Guyana that offer quotes over the internet and their estimated number of customers and/or revenue. This can be used as a potential indication of the market size. We can also provide this for Barbados and Colombia.
Additionally, we can complete further research to provide 5-7 insights for each Barbados and Colombia surrounding the number of uninsured smartphone users/owners aged 28-45 with stable income. Insights would be similar to those provided above for Guyana, based on what data is available for each country.