Protecting the poor
A microinsurance compendium - Volume I
This is a co-publication with the International Labour Organization (ILO), Geneva, Switzerland.
This authoritative compendium brings together the latest thinking of leading academics, actuaries, and insurance and development professionals in the microinsurance field. The result is a practical, wide-ranging resource which provides the most thorough overview of the subject to date.
The book allows readers to benefit from the valuable lessons learned from a project launched by the Microinsurance Network analysing operations around the world. Essential reading for insurance professionals, practitioners and anyone involved with offering insurance to low-income persons, this volume covers the many aspects of microinsurance in detail including product design, marketing, premium collection and governance.
It also discusses the various institutional arrangements available for delivery such as the community-based approach, insurance companies owned by networks of savings and credit cooperatives and microfinance institutions. The roles of key stakeholders are also explored and the book offers insightful strategies for achieving the right balance between coverage, costs and price.
Principles and practices
What is insurance for the poor?
The demand for microinsurance
The social protection perspective on microinsurance
Microinsurance products and services
Challenges and strategies to extend health insurance to the poor
Long-term savings and insurance
Savings- and credit-linked insurance
Meeting the special needs of women and children
Product design and insurance risk management
Premium collection: Minimizing transaction costs and maximizing customer service
Pricing microinsurance products
Risk and financial management
Organization development in microinsurance
Performance indicators and benchmarking
Cooperatives and insurance: The mutual advantage
The partner-agent model: Challenges and opportunities
The community-based model: Mutual health organizations in Africa
Institutional options for delivering health microinsurance
Beyond MFIs and community-based models: Institutional alternatives
Retailers as microinsurance distribution channels
Microinsurance: Opportunities and pitfalls for microfinance institutions
The role of other stakeholders
The role of donors
An enabling regulatory environment for microinsurance
The promotional role of governments
The role of insurers and reinsurers in supporting insurance for the poor
The provision of technical assistance
Strategies for sustainability
The future of microinsurance
- Appendix I: Description of microinsurance providers