Case Study
Microinsurance and Microfinance Institutions: Evidence from India
Reviewing the experiences of three Indian MFIs in the microinsurance sector
This document is a case study elucidating the role of MFIs in developing a market for microinsurance in India. The document discusses the important lessons learned from leading MFIs in India to develop the microinsurance market. The document deals with the following:
- Bouquet of financial services offered by MFIs in general;
- Reasons for MFIs to enter into microinsurance;
- Possible delivery mechanisms to reach the clients;
- Design of the products, keeping in mind the needs of the clients;
- Microinsurance in the Indian context;
- Rules and regulations governing microinsurance in India;
- Role of the state government.
The document also discusses the MFIs that have been chosen for this study, with respect to the following factors:
- History;
- General profile of the clientele;
- Risk management products and policies adopted;
- Microinsurance products offered;
- Various partnership models and partners used;
- Lessons learned, in terms of pricing an insurance product and developing it according to the needs of the customers.
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