Do caste and social interactions affect risk attitudes and adoption of microinsurance? Evidence from rainfall insurance adoption in Gujarat, India

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Agriculture is a risky enterprise and farmers’ risk bearing capacity as well as their risk management strategies are determined by their risk preferences or risk attitudes. Risk preferences of the farmers are central to agricultural decision making in the context of adoption of new technology and agricultural innovations. Risk factors are also critical in determining the consequences of risk on household welfare.

Barriers to household risk management: Evidence from India

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Why do many households remain exposed to large exogenous sources of non-systematic income risk? To answer this question, this paper uses a series of randomised field experiments in rural India to test the importance of price and non-price factors in the adoption of the innovative rainfall insurance product. Demand is significantly price sensitive, but widespread take-up would not be achieved even if the product offered a payout ratio comparable to U.S. insurance contracts.

What is a health card worth? An evaluation of an outpatient health insurance product in rural India

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In 2009, a pilot project was implemented by CARE Foundation in which low-skilled resident Community Health Workers (CHW) were trained and deployed in 50 villages in Yavatmal in Maharashtra, India, to offer first-level primary and preventive care consultations. The CHWs either made referrals to a doctor in a nearby town, or prescribed another course of action.

Value-added service in health microinsurance

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A number of health microinsurance (HMI) practitioners, primarily in the Indian subcontinent, have begun to experiment with offering value-added services (VAS), services provided by HMI schemes to enhance the appeal of a basic health insurance product to low-income families. This research paper explores what value-services can be added to HMI to increase sales and achieve an improved claims experience, adequate enough to offset the incremental costs of the VAS.

Understanding and Information Failures in Insurance: Evidence from India

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This paper is an attempt to understand the factors behind low contract renewal rates frequently observed in insurance programs in poor countries. This is done on the basis of the experience of a microinsurance health program in India. We show that deficient information about the insurance product and the functioning of the scheme, and poor understanding of the insurance concept, are the major causes of the low contract renewal rate among households which had previously enrolled into the program.

Case Brief: IFFCO-Tokio General Insurance Co.

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About 1 billion people, around 70 per cent of the world’s population living in extreme poverty, depend on livestock for their livelihood. Small farmers in India generate nearly half of their income from livestock and the value of cattle represents a significant part of their wealth, so the death of cattle poses a significant risk and affects farmers’ net worth and income. Yet efforts to provide livestock insurance in India have struggled because of high claims ratios, with public insurers frequently experiencing claims ratios of 150 to 350 per cent.


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