This study explores the needs of low-income households' for microinsurance as well as opportunities and challenges to providing microinsurance in order to expand the development of the microinsurance market in Azerbaijan. Both exploratory qualitative research and a quantitative representative household survey were undertaken to answer the research objectives in a comprehensive manner. The road out of poverty for low-income households in Azerbaijan is hard and unpredictable. Crises such as serious illnesses, the unexpected death of a family member, the loss of a job or an accident leading to disability puts significant financial pressure on low-income households. Evidently low-income households need to increase their risk-management capacities. Microinsurance is one of the options that might be considered.
Microfinance Centre for CEE and the NIS