The Landscape of Microinsurance in Latin America and the Caribbean: A Briefing Note

compucorp_admin's picture

Much of the knowledge about microinsurance comes from case studies of countries or organisations. While these works can be informative on an entity level, they generate little information about the microinsurance industry as a whole. This makes it difficult to identify gaps in products or coverage as well as trends. Understanding trends can help various parties leverage their activities to address gaps, jump on positive changes, change plans related to areas that are not performing, and learn from trends that are linked to regulatory or macroeconomic factors.

The Kenyan microinsurance policy framework paper

compucorp_admin's picture

The Microinsurance Policy Paper maps out the Insurance Regulatory Authority’s (IRA) future path in the regulation and supervision of microinsurance in Kenya. It spells out the strategic approach chosen, and the principles and key elements underlying this process. The paper makes policy recommendations that lay the foundations for the drafting of a legal and regulatory framework aimed at enabling the microfinance market to develop in a sound and customer-oriented environment.

The demand for microinsurance: A literature review

compucorp_admin's picture

Microinsurance - or the insurance for the poor - has been considered as "the next revolution" in addressing risks and vulnerability in low-income countries. In particular, huge investments have been made in the last decade by several development agencies (among which USAID and the Gates foundation) in this revolutionary tool that promised to break the circle of poverty and offer a reliable protection to the poor. The focus of this review is on low-income countries, where adverse shocks are frequent, and risk-pooling mechanisms and self-insurance strategies are imperfect.

Succeeding at microinsurance through differentiation innovation and partnership

compucorp_admin's picture

The report examines the progress of microinsurance to date and highlights the importance of differentiation, innovation and partnership in its success. Accenture argue that those attempting to enter the market must be prepared to see business through "an entirely new business paradigm", but that the necessary innovation can provide valuable lessons even to traditional carriers. The report also features Accenture Development Partnership's work with MicroEnsure implementing health microinsurance for lower income communities in Tanzania.

Selling more, selling better: a microinsurance sales force development study

compucorp_admin's picture

Selling microinsurance is not easy, convincing low-income clients of the value of insurance is difficult. The challenge is compounded when sellers have no previous insurance experience or have other responsibilities in addition to selling insurance. Adequate training, incentives, and monitoring of the sales force are indispensable for selling microinsurance effectively, and ultimately extending insurance care to millions of vulnerable households.

Securing the Silent: Microinsurance in India - The Story So Far

compucorp_admin's picture

Insurance industry of India achieved one of the highest growth rates in the world. Post liberalisation in 2000, Indian insurance industry has grown at the average rate of 15-20% every year. Microinsurance also developed as a sub-segment of the insurance industry in this period. Being a sub-segment of the conventional insurance industry, microinsurance has imbibed both the positives and negative characteristics of the larger industry, specifically in the life insurance segment.

Savings in microinsurance: Lessons from India

compucorp_admin's picture

This paper assesses four products that combine the benefits of insurance and saving offered by Indian insurers and targeting low-income customers. The assessment is timely, as many insurers have launched or are giving serious consideration to initiatives aimed at bringing insurance combined with saving to low-income customers. The first section of this paper introduces the issues and presents a framework that is used for the product analysis. The products are then described in section two, highlighting the key characteristics that set each apart.

Risk, coping mechanisms, and factors in the demand for micro-insurance in Ethiopia

compucorp_admin's picture

This paper is the result of a policy study carried out for the International Labour Organization (ILO) and the United Nations Capital Development Fund (UNCDF), to determine how microinsurance can help Ethiopia’s poor become more resilient to negative financial shocks. The research focuses on the demand components of microinsurance, and investigates two main research questions: Do low-income households in Ethiopia need insurance? If so, would they be willing to buy it if it were made widely available?The study answered these two questions through a literature review and quali

Risk preferences and demand for insurance under price uncertainty: An experimental approach for cocoa farmers in Côte d'Ivoire

compucorp_admin's picture

This study analyses the willingness-to-pay (WTP) for minimum price insurance in Côte d’Ivoire cocoa farming and the potential role of risk aversion using both experimental gambling approach with real payoffs and contingent valuation (CV) method. The findings reveal a relatively high level of risk aversion among Ivorian cocoa farmers with more than 45 percent of the households exhibiting severe to extreme risk aversion The WTP analysis reveals that farmers’ individual WTP for minimum price insurance are relatively low.

Research paper on agricultural decisions after relaxing credit and risk constraints

compucorp_admin's picture

The investment decisions of small scale farmers in developing countries are conditioned by their financial environment. Binding credit market constraints and incomplete insurance can reduce investment in activities with high expected profits. The authors conducted several experiments in northern Ghana in which farmers were randomly assigned to receive cash grants or opportunities to purchase rainfall index insurance, or a combination of the two.

Pages

Subscribe to RSS - 2012