0 Read eBook for: microinsurance for health and agricultural risks [PDF]

Microinsurance For Health And Agricultural Risks

Microinsurance for health and agricultural risks PDF

Get This Book

Author: Richard Leftley
Publisher: Intl Food Policy Res Inst
ISBN:
Size: 71.20 MB
Format: PDF, ePub, Docs
Category : Social Science
Languages : en
Pages : 2
View: 3777


In 2002 a group of insurance and reinsurance professionals set out to demonstrate that the low-income market was a viable insurance market. The initial aim was to better understand client needs and the willingness of insurers to provide products to this market. The team worked within Opportunity International, which, as a leading microfinance network, was able to provide the borrowers and seed capital needed to get started. Between 2002 and 2005 the team worked as an internal consultancy that designed products around the needs of Opportunity's clients; designed, discussed, and agreed upon insurance products; and set up a direct bank assurance or "partner-agent" relationship between the bank and insurers. After three years, about 1.5 million borrowers and family members had access to microinsurance--simple insurance products with low benefits and affordable premiums. Although there had been some success in introducing more complex products such as weather index insurance, the majority of clients had access to simple life and property products. It seemed clear to the team that providing access to higher-impact products such as health insurance would require creating a specialized back-office function. In 2006 the team entered discussions with the Bill & Melinda Gates Foundation, which challenged the team to consider how high impact products could be introduced through a range of distribution channels. The main output of the discussion was the creation within Opportunity International of the Micro Insurance Agency. Later, as a result of a US$24.25 million grant, the agency became a separate company, which was renamed MicroEnsure. Central to MicroEnsure's model is the concept that providing insurance to the poor involves performing three roles: first, carrying the risk; second, acting as the front sales office; and third, carrying out the back-office functions necessary to keep track of who is covered and to ensure a high level of service. During the first three years of the microinsurance effort within Opportunity, it became clear that the weakest part of the link between microfinance institutions (MFIs) and insurers was the back office. Insurers wanted the MFIs to perform the back-office functions, and this approach worked well when the products were simple, such as credit life. When, however, the MFIs had to capture data on spouses and children, introduce a policy that ran for longer than the loan, or administer a significant volume of claims such as those arising from health insurance, the cracks started to appear. In response, the insurance companies took on the back-office functions, and although they were capable, management expenses rose as high as 40 percent, resulting in a higher cost to the client or a reduction in how fast claims were paid out. It seemed that one of the missing components in a functioning microinsurance market was a specialized back-office provider--a void that MicroEnsure set out to fill. The MicroEnsure model uses a range of entities to carry the risk. For life and property insurance, there is an ample supply of local insurance companies in most countries where MicroEnsure works. With more complex products like weather index insurance, MicroEnsure has had to use international reinsurers, such as Swiss Re. To provide health products, MicroEnsure has formed cell captive structures, which are essentially reinsurance pools formed using insurance companies' capital. Although MicroEnsure does not seek to carry risk on its own balance sheet, it does get heavily involved in designing products on behalf of others.

Insurance Principles And Practice 22nd Edition

Insurance Principles and Practice  22nd Edition PDF

Get This Book

Author: Mishra M.N. & Mishra S.B.
Publisher: S. Chand Publishing
ISBN: 9385676075
Size: 64.30 MB
Format: PDF, Docs
Category : Business & Economics
Languages : en
Pages :
View: 5109


Comprehensive coverage of all types of innovative insurance products such as long-term care insurance, commercial insurance, catastrophe insurance, liability insurance to name few• Details on developments in international insurance with latest data• Appendices to support the information provided in chapters - All clauses and words of marine insurance are given in appendix

Innovations In Rural And Agriculture Finance

Innovations in Rural and Agriculture Finance PDF

Get This Book

Author: Renate Kloeppinger-Todd
Publisher: Intl Food Policy Res Inst
ISBN: 0896296687
Size: 16.92 MB
Format: PDF, Mobi
Category : Business & Economics
Languages : en
Pages : 30
View: 2758


Everywhere in the world, small agricultural producers are entrepreneurs, traders, investors, and consumers, all rolled into one. In all these roles, small agricultural households constantly seek to use available financial instruments to improve their productivity and secure the best possible consumption and investment choices for their families. But the package of financial services available to small farmers in developing countries is severely limited, especially for those living in remote areas with no access to basic market infrastructure.

Economic Reforms In India

ECONOMIC REFORMS IN INDIA PDF

Get This Book

Author: S. Nehru
Publisher: MJP Publisher
ISBN:
Size: 38.82 MB
Format: PDF, Kindle
Category : Business & Economics
Languages : en
Pages : 368
View: 5815


1. Economic Reforms and Indian Agriculture 2. Economic Reforms and Indian Education 3. Economic Reforms and Indian Insurance 4. Economic Reforms and Indian’s International Trade 5. Economic Reforms and Indian Health care, Tax Reforms, Consumption Patterns and Corruption 6. Economic Reforms and Indian Banking, Millennium Development Goals, Women Empowerment, SHGs

Protecting The Poor A Microinsurance Compendium

Protecting The Poor  A Microinsurance Compendium PDF

Get This Book

Author: Craig Churchill
Publisher: Academic Foundation
ISBN: 9788171886708
Size: 79.74 MB
Format: PDF, Kindle
Category :
Languages : en
Pages : 654
View: 7571



New Frontiers Of Philanthropy

New Frontiers of Philanthropy PDF

Get This Book

Author: Lester M. Salamon
Publisher: Oxford University Press, USA
ISBN: 0199357544
Size: 68.60 MB
Format: PDF, ePub, Mobi
Category : Business & Economics
Languages : en
Pages : 726
View: 3772


With the resources of both governments and traditional philanthropy barely growing or in decline, yet the problems of poverty, ill-health and environmental degradation ballooning daily, it is increasingly clear that new models for financing and promoting social and environmental objectives have become urgently needed. Fortunately, however, a significant revolution appears to be underway in the way in which social and environmental purposes are being financed. The heart of this revolution is a massive explosion in the instruments and institutions being deployed to mobilize private resources in support of social and environmental objectives. Where earlier such support was limited to charitable gifts, now a bewildering array of new instruments and institutions has surfaced-loans, loan guarantees, private equity, barter arrangements, social stock exchanges, bonds, secondary markets, investment funds, and many more-all of them designed to leverage not just the tens of billions of dollars of philanthropic grants but the hundreds of billions, indeed trillions, of dollars of private investment capital. While the changes under way are inspiring and by no means trivial, however, they remain largely uncharted in any systematic fashion. This monograph, and of the companion volume for which it also serves as the introductory chapter, is designed to overcome this problem, to provide the first comprehensible and accessible roadmap to the full range of important new developments taking place on the frontiers of philanthropy and social investment. In the process, it seeks to broaden awareness of these developments, increase their credence and traction, and make it possible to maximize the benefits they can generate while acknowledging the limitations and challenges they also face.

The Journal Of Entrepreneurial Finance Business Ventures

The Journal of Entrepreneurial Finance   Business Ventures PDF

Get This Book

Author:
Publisher:
ISBN:
Size: 58.22 MB
Format: PDF, Mobi
Category : Business enterprises
Languages : en
Pages :
View: 3817



Financing For Overcoming Economic Insecurity

Financing for Overcoming Economic Insecurity PDF

Get This Book

Author: Rob Vos
Publisher: Bloomsbury Publishing
ISBN: 1849665796
Size: 30.59 MB
Format: PDF, Kindle
Category : Political Science
Languages : en
Pages : 256
View: 323


The world is witnessing the paradox of simultaneous increase in income and insecurity. According to available data, global average per capita income has increased in recent decades, while at the same time actual and perceived insecurity has also increased. This paradox is true for both developed and developing countries. However, the concrete form and causes of insecurity differs across these two groups of countries. To the extent that income levels in many developing countries are very low, economic insecurity in these countries takes a starker and chronic form. In Financing for Overcoming Economic Insecurity, leading experts examine the causes and consequences of rising economic insecurity and policy measures that can be adopted to overcome insecurity. The volume contains papers addressing issues of economic insecurity pertaining to both developed and developing countries and caused by both economic factors and natural hazards. It also discusses the issues at both macro and micro levels. The volume's focus on policy measures, such as redistribution and reinvestment of profit income in developed countries and imposition of capital control and promotion of micro insurance in developing countries, should be of much help to policymakers as well as researchers.

Building Security For The Poor

Building Security for the Poor PDF

Get This Book

Author: United Nations Development Programme. Regional Centre in Colombo. Human Development Unit
Publisher: UN
ISBN:
Size: 13.13 MB
Format: PDF, ePub
Category : Business & Economics
Languages : en
Pages : 116
View: 1176


Reducing poverty requires not just the generation of income among the poor, but also the protection of these incomes. Microinsurance offers innovative new ways to combat poverty in India through helping the rural poor systematically manage financial risks to their livelihoods and lives. The microinsurance industry is poised to take off, just as microcredit did a decade ago: 90 percent of the Indian population some 950 million people are not covered by insurance and represent an untapped market of nearly US$2 billion. This enormous missing market is ready for customized life and non-life insurance, but first, serious mismatches between the needs of the insured and the insurers must be overcome, pitting priorities against profits. This study strategically points to the numerous emerging opportunities for energising the rural insurance market, building on robust economic growth, increasing numbers of rural entrepreneurs and recent insurance regulations. Conclusions are based on new evidence from three states in India each with a population the size of some countries which also has policy relevance across the Asia-Pacific region and beyond. The study presents recommendations to realise the potential of this latent market.

Micro Insurance For The Ultra Poor

Micro insurance for the Ultra Poor PDF

Get This Book

Author:
Publisher:
ISBN:
Size: 10.27 MB
Format: PDF
Category : Microinsurance
Languages : en
Pages :
View: 591



Southern Economist

Southern Economist PDF

Get This Book

Author:
Publisher:
ISBN:
Size: 75.58 MB
Format: PDF
Category : India
Languages : en
Pages :
View: 5216



Managing Risk And Creating Value With Microfinance

Managing Risk and Creating Value with Microfinance PDF

Get This Book

Author: Mike Goldberg
Publisher: World Bank Publications
ISBN:
Size: 24.95 MB
Format: PDF, Docs
Category : Business & Economics
Languages : en
Pages : 122
View: 185


This book provides guidelines and technical recommendations on microfinance based on expert presentations and cases from around the world.

Back to Top