Microinsurance Products (Presentation)

This presentation discusses the expansion taking place in the microinsurance scenario all over the world .The presentation makes the following points:

• Non-government organizations (NGOs), microfinance institutions (MFIs) and donors have conducted research that has resulted in the development of several microinsurance products;
• They have attempted to match products to the assessed needs of low-income households;
• They have also added new channels of delivery to meet the needs of low-income households.

The presentation:

• Lists microinsurance products according to their relative complexity, starting from the simpler, such as life insurance, to the more complex, such as crop insurance;
• Provides an overview of microinsurance products in different countries;
• Profiles various organizations and their insurance packages. These include:
  • Vimo SEWA, India - integrated insurance package;
  • BASIX, India - rainfall insurance;
  • The Government, India - crop insurance;
  • ICICI Group, India – Innovations in delivery channels;
  • Delta Life Insurance Company, Bangladesh – life insurance;
  • GRET, Cambodia – the insurer-provider model;
  • CARD MBA, Philippines – life and term insurance and provident fund;
  • La Equidad Seguros, Colombia - life insurance with flexibility;
  • Microcare, Uganda – comprehensive health care;
  • Gemini Life Insurance Company, Ghana –life insurance;
  • AFYA, Kenya – pre-paid health card;
  • South Africa – funeral insurance;
  • Opportunity International Bank, Malawi  unemployment insurance.

It concludes by providing information about the expansion of microinsurance products into various areas.