If you can't sell it, give it away for free
The Economist, 17 April, 2014
In the developed world, insurance is an every day part of life. In rich countries such as Britain, well over 80% of households hold at least one policy, according to the Association of British Insurers, an industry group. Insurance Europe, a lobbying organisation, reckons European countries spent 8.2% of their GDP on insurance cover in 2011. That figure rises to over 13% in countries such as the Netherlands.
However, insurance coverage is much patchier in the developing world. Recent estimates suggest that 90% of India's poor are not covered in any way. And in 2010, only 2.5% of Africans used insurance products, according to the International Labour Organisation. Poorer consumers, it seems, are put off by the high cost of traditional products. However, according to a new report by the MicroInsurance Centre, a consultancy firm, the effective use of mobile technology appears to have increased the uptake of microinsurance among disadvantaged groups.
Read the full article here
Job opening at PlaNet Finance
PlaNet Finance is looking for a Health Microinsurance Expert to cover three projects in Madagascar, Ivory Coast and Sub-Saharan Africa. Candidates are invited to send their applications mentioning the following job ID (Consultant_MA_AF) to Aurore Kasprzak.
For the job description in French click here
Blog: Empowering Filipinos through microinsurance
Almario; Joselito, Microinsurance Philippines Blog Spot, April 2, 2014
The first quarter of 2014 has gone quite peacefully, if you would discount the usual political disturbances. Filipinos probably heaved a sigh of relief at this as many still struggle to recover from the previous year’s tide of unpleasant experiences.
Last year was rather unforgettable, as natural disasters battered the country and caused damage worth billions of pesos. It was a painful eye-opener but it taught us one thing—the value of preparation. This is where microinsurance enters, as a hero with a promise: while you cannot control the acts of nature, you can control how much pain it will cause you.
Read the blog here
Two job openings at MiCRO
The Microinsurance Catastrophe Risk Organisation SCC (MiCRO) is looking for two microinsurance specialists:
- Central America Regional Lead - Senior Microinsurance Specialist: the post will start around April 28, 2014, and the initial term of the consultancy is expected to last until March 31 2015. This consultancy calls for a world-class level of competency in microinsurance. The role requires an exceptionally high degree of confidence, creativity, and knowledge of the field, to align resources properly and meet the objectives of MiCRO in Central America. For further information on the job descriptions click here.
- Product Design Director, Natural Hazards: the post will start around June 1, 2014, and the initial term of the consultancy is expected to last until March 31 2015. This consultancy calls for a world-class level of competency, expertise, and experience in developing and designing parametric and/or indemnity insurance products covering natural hazards, and the analysis of vulnerabilities related to these hazards. The role calls for leadership and coordination of resources over full-life cycles of research, analysis, proposal and follow-up testing. For further information on the job descriptions click here.
The deadline for the applications is April 14, 2014.