Nepal: Implementing Microinsurance Standard Products

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Shikhar Insurance Company Ltd. (SICL) is a publicly-listed general insurance company established in 2004. It holds 14% market share of total industry premium and 18% market share of total number of policies. With regard to its microinsurance products, SILC offers livestock, poultry and crop insurance under the agriculture insurance line of business. These products are enjoying up to 75% subsidy on premium from the government. Its main target group are farmers and their families who are policy holders of Shikhar’s agriculture insurance.

Nepal: Endowment and Term Microinsurance Products

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In Nepal almost 80% of the total population lives in the rural areas. Nepal Life Insurance Company Limited (NepalLife) is the leading life insurance company contributing 33% to the total industry premium. NepalLife enters the microinsurance market by offering Micro Endowment Life Insurance and Micro Term Life Insurance, which are pre-approved by BeemaSamiti. However reaching the targeted group at remote locations is the most challenging tasks for the company.

 

An inventory of micro-insurance schemes in Nepal

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This inventory gives an overview of existing and newly planned micro-insurance schemes in Nepal, called the MIS Inventory. The inventory is part of a worldwide compendium to document ongoing experiences of micro-insurance schemes, which is being compiled by the ILO’s Strategies and Tools against Social Exclusion and Poverty Programme (STEP) simultaneously in Africa, Asia and Latin-America. In Asia, the inventories are being carried out in Nepal, India, Bangladesh and Sri Lanka. Other planned inventories in the region will cover the Philippines, Cambodia and Vietnam.

Financial inclusion opportunities for micro-health insurance in Nepal: An exploratory analysis of health incidence, costs and willingness to pay in Dhading and Banke districts of Nepal

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This report is based information collected in two districts of Nepal (Banke and Dhading) in early 2009 and concerns the launch of community-based micro health insurance units for members of Nirdhan and DEPROSC, two grassroots microfinance NGOs. The study entailed a household survey of 2,008 households, 40 focus group discussions (with potential beneficiaries), in addition to 51 key informant interviews with healthcare providers. The purpose of the study was to collect the date needed for designing and pricing an insurance plan.

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