Microinsurance has become a macro business for insurers and service providers, and poverty reduction is not only the interest of governments anymore. Private sector has taken it as an opportunity for business growth rather than a corporate social responsibility. As the microinsurance sector in India is well regulated, there is a huge opportunity for insurers and risk carriers to enter into the microinsurance market and serve the 90% of the population that are still excluded. The objective of this paper is to find out how microinsurance may grow as macro business and to discuss the challenges of microinsurance massification for microinsurers.
The International Journal's: Research Journal of Economics and Business Studies