As I write this, the group stages of the 2026 World Cup have already had some shocking results. With a record 48 teams in the tournament, there are several nations that have made their debut, namely Jordan, Curacao, Cabo Verde, Uzbekistan and Qatar, signalling an attempt by FIFA to allow for representation from less established footballing nations.
This representation does highlight a big gap in footballing skill amongst the tournament mainstays (your European giants in Germany, France and England, as well as the South American favourites in Brazil and Argentina). However, every World Cup appearance is a monumental achievement for the players, no matter the final scoreline; much like the Olympics, it is often enough to represent your nation on the world stage.
This increased representation, even though it has its detractors amongst football fans, might have a lesson for insurers. FIFA has recognised that the world has become more global than ever, and the biggest sport in the world belongs to more than just a handful of traditional powerhouses (there have been only 8 nations to have won the coveted trophy, with 13 finalists, out of 22 previous editions of the tournament).
Similarly, the insurance industry must reckon with how much of the global population has been historically overlooked; emerging markets across Asia, Africa and Latin America are home to vast populations who remain uninsured or underinsured.
The World Cup’s expanded field is not merely symbolic; it reflects a deliberate decision to invest in development, build infrastructure and connect the global community through sport. The insurance industry can take the same approach. Underserved segments, whether rural communities, migrant workers, low-income households or the gig economy, goes beyond social responsibility, and is a genuine growth opportunity.
Credit to the industry, though, there have been great attempts at improving the situation across these markets, often coupled with concerted efforts from regulators (such as the push from India’s government to close the gap for their gig economy workers). Microinsurance, parametric products, and mobile-first distribution have already shown that reaching these populations is commercially viable. Governments across Asia are keen to partner with insurers and to provide their most vulnerable populations with the protection they need.
The 2026 World Cup will be remembered for many things; perhaps a first-time winner, perhaps another underdog run to the semi-finals. It may also be remembered as the tournament that proved the game is bigger than its history. For insurers, the opportunity lies to look beyond the familiar, to back the underdog markets, and to recognise that the next great growth story may come from somewhere the industry has not yet thought to look. The final whistle has not blown on financial inclusion. If anything, the game is just getting started. A
Ahmad Zaki
Editorial Director
Asia Insurance Review