Over the last couple of years, all of us have been jubilant on the success and evolution of mobile insurance, especially loyalty-based mobile insurance, across the globe. The outreach of the schemes are often cited as evidence of a panacea for all microinsurance related issues— from cost, to access, to marketing, adverse selection and process effectiveness. Yet, there is a not-so-quiet murmur on whether these schemes are dependent on the marketing priorities of telecom operators/Mobile Network Operators. Success of the schemes in some countries and near absence of the same in others raised sincere doubt about whether the schemes are suitable to the changing priorities of MNOs. Interestingly, all the discourse, discussion and publication around mobile insurance (and loyalty based mobile insurance) have focused on insurance companies and/or supply chain members, with a near oblivion of MNOs, who as premium paying entities are one of the most important cogs in the wheel. There is an assumption that costly loyalty building measures are a priority of MNOs, irrespective of which market they are operating in or which state of evolution they belong to.
To address these issues, our member, MicroSave, has just published its Briefing Note on how microinsurance schemes match with the changing strategic priorities of telecom operators in different countries. Tracing the evolution cycle of MNOs, the note discusses how broad design level paradigms can be adopted to synchronise with MNOs and how these schemes can be value enhancer to MNOs in different markets.
The Briefing Note can also be commented on here.