Innovations in microinsurance research (original) (raw)
Related papers
Microinsurance: Bibliography of Unclassified Literature
The benefits of financial services for the poor are now universally acknowledged, and the practice of microcredit is becoming common in developing countries. In comparison, microinsurance – insurance for the poor – which has the potential to significantly aid millions of poor people, has received limited attention. Microfinance is itself one of the most important, remarkable phenomena in developing the socio-economic environment of the poor. Because of their poor socioeconomic background, most financial institutions thought the poor were not bankable. Microfinance has proved that these poor can be made creditworthy if they are organized in small groups. Microinsurance is the term used to refer to insurance for low-income people, as it is different from general insurance, where microinsurance is a low-value product with less premium and benefits. This article provides a collection of bibliography of unclassified literature on the various aspects of microinsurance.
Ekonomia i Prawo
Motivation: Notwithstanding the 30 years of the market economy, the Polish insurance market still reveals an exceptionally low level of penetration rates and insurance density. Attempts should be made to reduce the protection gap by introducing and popularising microinsurance products. Aim: The research aims to establish whether there exists a need for microinsurance products in Poland and whether there are conditions for its development, which groups it should target and what methods and institutions can reduce the protection gap. Results: Data analysis demonstrated that in Poland the lowest use of insurance coverage to manage risk occurs in the lowest income households, comprising groups of people with relatively low education: disability pensioners, farmers and workers. This results in lack of or limited access to insurance. Looking for a way to counteract this phenomenon, I suggest introducing and popularising microinsurance products targeting towards the above-mentioned groups....
Microinsurance: The Choice among Delivery and Regulatory Mechanisms
2013
We analyse the choice of the appropriate delivery mechanism(s) relevant to various types of microinsurance products in a developmental context like that prevailing in Bangladesh. By examining various delivery mechanisms under different institutional contexts, we analyse the conditions under which they operate best. Then we develop a few criteria that are likely to offer cost efficiency as well as customer acceptance, and judge between different schemes in light of these criteria, and dwell on the interface between the choice of the delivery model and the regulatory stance. Finally, we put forward a set of regulatory and supervisory directives that respect both product and process innovations and uphold the goals of cost efficiency, financial viability and client inclusivity.
2005) Health microinsurance: a comparison of four publicly-run schemes
2014
This paper was commissioned by the “Good and Bad Practices in Microinsurance ” project. Managed by the ILO’s Social Finance Programme for the CGAP Working Group on Microinsurance, this project is jointly funded by SIDA, DFID, GTZ, and the ILO. The major outputs of this project are: 1. A series of case studies to identify good and bad practices in microinsurance 2. A synthesis document of good and bad practices in microinsurance for practitioners based on an analysis of the case studies. The major lessons from the case studies will also be published in a series of two-page briefing notes for easy access by practitioners. 3. Donor guidelines for funding microinsurance. The CGAP Working Group on Microinsurance The CGAP Microinsurance Working Group includes donors, insurers, and other interested parties. The Working Group coordinates donor activities as they pertain to the development and proliferation of insurance services to low-income households in developing countries. The main acti...
Journal of Emerging Trends in Economics and Management Sciences
This study investigates the contribution of insurance to economic development in _igeria. As a descriptive survey, the study comprised all the 50 insurance companies in Lagos State, _igeria out of which a sample of 10 companies were selected. Out of the 20 life and 30 non-life insurance in the sample, 4 life and 6 non-life insurance were selected using random sampling techniques. The instrument used for the study was a questionnaire designed, validated and found reliable for the study. The findings showed that problem among insurance companies were lack of funds which leads to claim avoidance. There was no significant difference between performance of insurance policy in urban and rural areas. The findings also revealed insurance companies provide financial services to some substantial number of people in the economy. The findings further revealed that insurance helps in capital accumulation than payment of reparation of loses. Based on findings, it was recommended that there should be a cheap means of handling risks to the insured in view of the fact that the principle of large number is brought to bear in the practice and operations of insurance. The state government should enhance the participation of individuals and corporate bodies by generating incentives strategy, upgrading infrastructures enhance human capital development and creating a favourable climate for insurance investment.
IntechOpen eBooks, 2023
This chapter offers a detailed analysis of microinsurance (nowadays often called "inclusive insurance"), an innovative hybrid model combining grassroots initiatives with top-down approaches to reach populations not covered by government-operated social protection systems. With half of the global population, primarily in low and middle-income countries, lacking social protection, the chapter focuses on the potential of microinsurance to address this pressing issue. The commercial microinsurance attempts, often labeled as "insurance for the poor," have been largely insufficient. An alternative lies in the "Collaborative and Contributive" (C&C) model of microinsurance, which harnesses social forces, typically more compelling than market forces in informal settings, to stimulate demand. The chapter evaluates microinsurance's social and economic impacts, drawing insights from 25 years of progress. It underscores the need for policymakers, international development bankers, and the reinsurance industry to recognize the potential of the C and C model in providing comprehensive insurance to marginalized populations.