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.
SADC faces high levels of exclusion in insurance. It is therefore appropriate for SADC supervisors to pursue inclusive insurance markets based on international guidance. Since the vast majority of SADC populations are excluded from insurance, it also holds that retail markets are extremely small. Microinsurance can, therefore, form a foundation for
Hospital cash plans (HCPs) have emerged as an affordable risk cover for many low-income South Africans without access to medical aid. HCPs pay out a cash amount directly to the client on hospitalisation, rather than by providing comprehensive care cover. The increasing popularity of HCPs in South Africa have become
Hospital cash plans (HCPs) have the potential to provide financial protection against health risks to low-income individuals that are unable to afford medical scheme membership, but still incur significant costs or co-payments at a public facility. This 2013 report is a follow-up to our review of the South African market
Implications for policymakers and regulators Funeral insurance is the most prevalent form of insurance in South Africa with just less than 90% of all risk cover being attributed to this form of insurance, more than a quarter of which is informal. This 2012 paper presents the nature of informality in
This case study on microinsurance innovation in Colombia forms part of a series of case studies on alternative, innovative microinsurance distribution models prepared for the International Labour Organization’s Microinsurance Innovation Facility. The case study covers three channels, namely the partnership between Codensa, an electricity utility company, and the insurance company Mapfre;
New Frontiers in Microinsurance Distribution The International Labour Organization’s (ILO) Microinsurance Innovation Facility (MIF) commissioned Cenfri to compare innovative distribution models from India, South Africa, Colombia and Brazil. The study was based on several case studies conducted and commissioned by Cenfri. The aim was to create a typology for innovative
This series of documents brings together research and analysis on the country context, demand, supply and regulatory framework for insurance in Tanzania. It includes a series of eight documents, consisting of one headline findings document and seven input documents, each focusing on a specific thematic area that build ups the
In 2012, there were estimated to be between 1 and 1.5 million hospital cash plan (HCP) policies in effect in South Africa, with total lives covered estimated to be 2.4 million people. The market is relatively large and rapidly growing with an estimated 50,000 new policies sold every month This
In 2011, insurance reach in Nigeria was extremely low and the market was plagued by a number of challenges, many of them relating to distribution. The reach of the insurance market was limited to the higher-income, formally-employed male market and even those who were supposed to have compulsory insurance (e.g.
South Africa has one of the most innovative insurance markets in the world. It is also considered one of the leading microinsurance jurisdictions. Commercial insurers have reached significant penetration in the low-income market, albeit largely through funeral and credit life insurance. FinMark Trust therefore commissioned Cenfri to provide an update
SADC faces high levels of exclusion in insurance. It is therefore appropriate for SADC supervisors to pursue inclusive insurance markets based on international guidance. Since the vast majority of SADC populations are excluded from insurance, it also holds that retail markets are extremely small. Microinsurance can, therefore, form a foundation for
Hospital cash plans (HCPs) have emerged as an affordable risk cover for many low-income South Africans without access to medical aid. HCPs pay out a cash amount directly to the client on hospitalisation, rather than by providing comprehensive care cover. The increasing popularity of HCPs in South Africa have become
Hospital cash plans (HCPs) have the potential to provide financial protection against health risks to low-income individuals that are unable to afford medical scheme membership, but still incur significant costs or co-payments at a public facility. This 2013 report is a follow-up to our review of the South African market
Implications for policymakers and regulators Funeral insurance is the most prevalent form of insurance in South Africa with just less than 90% of all risk cover being attributed to this form of insurance, more than a quarter of which is informal. This 2012 paper presents the nature of informality in
This case study on microinsurance innovation in Colombia forms part of a series of case studies on alternative, innovative microinsurance distribution models prepared for the International Labour Organization’s Microinsurance Innovation Facility. The case study covers three channels, namely the partnership between Codensa, an electricity utility company, and the insurance company Mapfre;
New Frontiers in Microinsurance Distribution The International Labour Organization’s (ILO) Microinsurance Innovation Facility (MIF) commissioned Cenfri to compare innovative distribution models from India, South Africa, Colombia and Brazil. The study was based on several case studies conducted and commissioned by Cenfri. The aim was to create a typology for innovative
This series of documents brings together research and analysis on the country context, demand, supply and regulatory framework for insurance in Tanzania. It includes a series of eight documents, consisting of one headline findings document and seven input documents, each focusing on a specific thematic area that build ups the
In 2012, there were estimated to be between 1 and 1.5 million hospital cash plan (HCP) policies in effect in South Africa, with total lives covered estimated to be 2.4 million people. The market is relatively large and rapidly growing with an estimated 50,000 new policies sold every month This
In 2011, insurance reach in Nigeria was extremely low and the market was plagued by a number of challenges, many of them relating to distribution. The reach of the insurance market was limited to the higher-income, formally-employed male market and even those who were supposed to have compulsory insurance (e.g.
South Africa has one of the most innovative insurance markets in the world. It is also considered one of the leading microinsurance jurisdictions. Commercial insurers have reached significant penetration in the low-income market, albeit largely through funeral and credit life insurance. FinMark Trust therefore commissioned Cenfri to provide an update
