Weather insured savings accounts
Stein; Daniel and Jeremy Tobacman, ILO, Research Paper N°17, March 2012
Through a laboratory experiment in India, this paper assesses consumers' relative valuations of savings versus insurance when planning for risky rainfall in an attempt to measure potential demand for a new type of financial product that combines savings and rainfall insurance, the Weather Insured Savings Account (WISA).
The study finds out that participants prefer both pure insurance and pure savings to any mixture of the two, and that this preference is most pronounced among those who are more risk averse. The results presented by the authors suggest that the introduction of a WISA is unlikely to be successful.
Impact of education on informal workers willingness to pay and knowledge of health insurance
Khan; Jahangir A.M., ILO, Research Paper N°16, March 2012
A literature review identified a number of barriers that restrict potential clients from joining health insurance schemes in developing countries. Among those, the “literacy gap” i.e. the lack of knowledge about insurance was found to be an important one. In Bangladesh, studies on knowledge about health insurance are not readily found. However, there are indications of a “literacy gap” concerning health insurance, its mechanism and utility.
The aim of this study is two-fold; first, it is to assess the impact of educational intervention on knowledge, attitude and willingness-to-pay for health insurance using occupational solidarity and then, to explore the views of relevant actors on occupational solidarity-based health insurance.
Microinsurance in India is now a macro business
Manjunath, Gundupaga and Rama Prasada Rao, The International Journal's: Research Journal of Economics and Business Studies, May 2012
Microinsurance has become a macro business for insurers and service providers, and poverty reduction is not only the interest of governments anymore. Private sector has taken it as an opportunity for business growth rather than a corporate social responsibility. As the microinsurance sector in India is well regulated, there is a huge opportunity for insurers and risk carriers to enter into the microinsurance market and serve the 90% of the population that are still excluded.
The objective of this paper is to find out how microinsurance may grow as macro business and to discuss the challenges of microinsurance massification for microinsurers.