Microinsurance refers to the provision of insurance to lower-income households. If appropriately designed and intermediated, insurance products can play an important role in reducing vulnerability for low-income households as well as presenting profitable markets for commercial insurance providers. In addition, ensuring well-functioning health financing systems is a critical element of development policy and the delivery of health services.
We’ve done extensive work on the regulation and development of microinsurance and health financing markets in Africa, Latin America and Asia.
Funeral parlours and burial societies deliver value to consumers by meeting essential functional needs, but also by meeting social and cultural needs. Funeral parlours have a powerful position in the funeral value chain. This exposes consumers to abuse. Such abuses are common and cut across different spheres, such as health
Zambia is one of nine countries in sub-Saharan Africa with more registered mobile money accounts than bank accounts (GSMA, 2013). Previous case studies investigating the rise of m-insurance (i.e. microinsurance sold through mobile phones) in Zimbabwe and Tanzania, highlighted that whilst m-insurance initiatives have the potential to enhance access to
Agent networks are critical for expanding access to financial services in developing countries. They enable providers to offer viable cost-effective financial services at scale in developing countries reaching previously unserved and underserved adults. The focus has traditionally been on networked agents but increasingly providers are recognising the potential of un-networked
Most providers of health microinsurance have struggled to achieve sustainability without public or donor support, despite health insurance being one of the most sought-after microinsurance products in many regions of the developing world. A lack of data and adequate skills for pricing, as well as the challenges around effectively forming
Mobile insurance (m-insurance) can play an important role in enhancing access to insurance, especially in regions where distribution and reach pose challenges to serving the market. Due to the significant penetration of mobile phones, airtime vendors, and mobile money agents, m-insurance initiatives have the potential to reach scale almost overnight.
Credit life insurance may be the first type of insurance that many low-income consumers encounter. It can offer an opportunity for introducing consumers to the concept of insurance or lead to consumer protection concerns if consumers are not aware that they have insurance, or if a captive market leads to
An update on microinsurance in South Africa. In 2011, a policy document entrenched and refined a proposed microinsurance regulatory framework for South Africa that was envisaged to be incorporated into a forthcoming Microinsurance Act and subordinate legislation. However, in 2013 the decision was made to no longer pursue standalone microinsurance
Insurers are using mobile phones to address two main challenges facing the microinsurance sector: increasing efficiency and reaching scale. By leveraging mobile phone infrastructure insurers have made processes more efficient across the insurance value chain; reducing turnaround times for enrolment, premium collection, claims processing; lowering costs; and bridging geographical distances.
Achieving scale is a significant success factor for microinsurance schemes, as low premiums with high costs require substantial volumes to make an initiative sustainable. However, achieving scale is difficult. This report analysed 95 initiatives that achieved scale and evaluated eight case studies in detail to understand what drives scale. The
Increasingly, the mobile phone is being used throughout the microinsurance value chain to enable access to insurance for millions of people who otherwise would have no cover. CGAP’s recent brief notes that mobile microinsurance products are not only growing in number with 15 new products launched in the first eight
Funeral parlours and burial societies deliver value to consumers by meeting essential functional needs, but also by meeting social and cultural needs. Funeral parlours have a powerful position in the funeral value chain. This exposes consumers to abuse. Such abuses are common and cut across different spheres, such as health
Zambia is one of nine countries in sub-Saharan Africa with more registered mobile money accounts than bank accounts (GSMA, 2013). Previous case studies investigating the rise of m-insurance (i.e. microinsurance sold through mobile phones) in Zimbabwe and Tanzania, highlighted that whilst m-insurance initiatives have the potential to enhance access to
Agent networks are critical for expanding access to financial services in developing countries. They enable providers to offer viable cost-effective financial services at scale in developing countries reaching previously unserved and underserved adults. The focus has traditionally been on networked agents but increasingly providers are recognising the potential of un-networked
Most providers of health microinsurance have struggled to achieve sustainability without public or donor support, despite health insurance being one of the most sought-after microinsurance products in many regions of the developing world. A lack of data and adequate skills for pricing, as well as the challenges around effectively forming
Mobile insurance (m-insurance) can play an important role in enhancing access to insurance, especially in regions where distribution and reach pose challenges to serving the market. Due to the significant penetration of mobile phones, airtime vendors, and mobile money agents, m-insurance initiatives have the potential to reach scale almost overnight.
Credit life insurance may be the first type of insurance that many low-income consumers encounter. It can offer an opportunity for introducing consumers to the concept of insurance or lead to consumer protection concerns if consumers are not aware that they have insurance, or if a captive market leads to
An update on microinsurance in South Africa. In 2011, a policy document entrenched and refined a proposed microinsurance regulatory framework for South Africa that was envisaged to be incorporated into a forthcoming Microinsurance Act and subordinate legislation. However, in 2013 the decision was made to no longer pursue standalone microinsurance
Insurers are using mobile phones to address two main challenges facing the microinsurance sector: increasing efficiency and reaching scale. By leveraging mobile phone infrastructure insurers have made processes more efficient across the insurance value chain; reducing turnaround times for enrolment, premium collection, claims processing; lowering costs; and bridging geographical distances.
Achieving scale is a significant success factor for microinsurance schemes, as low premiums with high costs require substantial volumes to make an initiative sustainable. However, achieving scale is difficult. This report analysed 95 initiatives that achieved scale and evaluated eight case studies in detail to understand what drives scale. The
Increasingly, the mobile phone is being used throughout the microinsurance value chain to enable access to insurance for millions of people who otherwise would have no cover. CGAP’s recent brief notes that mobile microinsurance products are not only growing in number with 15 new products launched in the first eight
