Designing Mobile Microinsurance Products: Premium Payment Methods

Wednesday, February 12, 2014

Tappendorf; Tyler, David Saunders, CGAP, 12 February 2014

This blog comments on the findings of CGAP’s recent brief on The Emerging Global Landscape of Mobile Microinsurance and the Microinsurance Innovation Facility's study on Mobile Phones and Microinsurance published end of 2013.

Mobile phones are increasingly used throughout the microinsurance value chain to enable access to insurance for millions of people who otherwise would have no cover. These products are not only growing in number, but they are reaching people in many of the world’s poorest countries.
The ability to pay premiums to the homes and handsets of the end users, allows valuable financial services like insurance to reach greater numbers of people in remote locations, while benefiting product providers as well. However, each markets' constraint and unique environment will ultimately determine how and whether airtime and mobile money are feasible solutions to facilitate payments for a mobile microinsurance initiative.

Read the blog here