Microinsurance: Analysis of Outstanding Experiences in Latin America and the Caribbean
Camargo; Luz Andrea and Luisa Fernanda Montoya, FIDES, 2011
Over the last decade, the private insurance sector has developed increasing interest in microinsurance, fact that explains why most of the microinsurance products implemented during this period have been introduced by private insurance companies.
Considering this trend, FIDES and the Inter American Development Bank (IDB), acting as administrator of the Multi-Lateral Development Fund (MIF), have designed a project for the development of the private microinsurance sector in Latin America and the Caribbean with the purpose of promoting microinsurance in the region.
In the context of the project, MAPFRE foundation, FIDES and the IDB / MIF have financed this study which examines the framework for successful microinsurance in Latin America and the Caribbean, and the minimum requirement matrix for the implementation of microinsurance projects.
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Establishing an Index Insurance Trigger for Crop Loss in Northern Ghana
The Katie School of Insurance, Research Paper N°7, ILO, September 2011
As a consequence of climate change, agriculture in many parts of the world has become a riskier business activity. Given the dependence on agriculture in developing countries, this increased risk has a potentially dramatic effect on the lives of people throughout the developing world especially as it relates to their financial inclusion and sustainable access to capital.
This study, published by the ILO's Microinsurance Innovation Facility and researched by the Katie School of Insurance, analyses the relationships between rainfall per crop gestation period and crop yields and studies the likelihood of crop yield losses. It makes recommendations on how this information could be used to develop a trigger for index insurance to help mitigate the financial risks to farmers and lenders who make loans to farmers in Ghana.
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Access to Insurance Initiative: Inside the Initiative
The Access to Insurance Initiative, which aims to enhance broad-based, demand-oriented and sustainable access to insurance for low-income clients, launches the first of its "Inside" publications. This edition introduces the Initiative by presenting its goal, aspirations and activities to partners and all interested parties. It also provides details on the Initiative's four key activity areas:
- Building knowledge and learning;
- Undertaking country projects;
- Contributing to IAIS standard-setting and
- Advocacy and engagement in international platforms.
The publication sets out some of the achievements from the first 2 years of the organisation, explaining how the organisation functions, while also highlighting the plans for the future.
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Reinsuring the poor: Group microinsurance
Clarke; Daniel J., FERDI, Policy Brief / N°42, September 2011
How is microinsurance economically different to conventional insurance sold to individuals in developed countries? The key assumption modelled in this paper is that many low income people are part of extended families or communities that share strong economic and social links, and that the cost of verifying a loss and making a transfer, known to insurers as loss adjustment, is much lower for individuals within such groups than for formal sector insurers.
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Improving client value from microinsurance: Insights from India, Kenya, and the Philippines
Matul; Michal, Clemence Tatin-Jaleran, Eamon Kelly, ILO’s Microinsurance Paper N°12, 2011
As microinsurance providers, governments and donors try to provide better value to clients, they are faced with the same questions: are clients benefiting from microinsurance? How do we measure those benefits? How do we improve the value proposition for the clients?
This paper contributes to this discussion by focusing on improving client value rather than proving it. It presents results from the analysis of 15 microinsurance schemes using the ILO’s client value assessment tool called PACE (Product, Access, Cost and Experience). The PACE tool looks at the added value for clients from insurance products by comparing them to each other and to alternative means of offering protection from similar risks (including informal mechanisms and social security schemes). Informal mechanisms and social security schemes provide a benchmark to assess the value of microinsurance in the context of other risk management options.
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