MR Microinsurance_2012_03_29.indd - International Labour ...

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xiv Acknowledgements Th is publication benefi ts from the experiences of dozens of microinsurance innovators from across the globe who have generously shared their experiences, including successes and failures. In particular, we would like to acknowledge the contribution made by the following organizations: Africa and Asia and the Pacifi c India Latin America and the Middle East East (except India) Caribbean Britak (Kenya) (Kenya) Allianz (Indonesia) Bajaj Allianz ACE (Brazil) Cooperative Insurance CARD MBA BASIX AIC (Haiti) Company (Kenya) (Philippines) CARE Foundation Alico (Colombia) HARITA (Ethiopia) CBHI (Lao PDR) CARE India Aseguradora Rural Hollard (South Africa) China Life Centre for Insurance (Guatemala) Jamii Bora Bora Trust Trust CLIMBS Risk Management Bradesco (Brazil) (Kenya) (Philippines) (CIRM) Colseguros Kenya Orient FICCO MBA Dhan Foundation (Colombia) Metropolitan (Philippines) HDFC Ergo FUNDASEG (South Africa) First Microinsurance Microfund for Women Agency (Pakistan) (Jordan) GRET (Cambodia) Mutual and Federal Groupama (Viet (South Africa) Nam) National Hospital Malayan (Philippines) Insurance Fund Philam Life (Kenya) (Philippines) Old Mutual PICC (China) (South Africa) TSKI (Philippines) Pioneer Assurance Vision Fund (Kenya) (Kenya) (Cambodia) Sanlam Sky (South Africa) Syngenta Foundation (Kenya) UMSGF (Guinea) UNACOOPEC (Cote d’Ivoire) ICICI Lombard ICICI Prudential IFFCO-Tokio Max New York Life (MNYL) Palmyrah Workers Development Society (PWDS) Rashtriya Swasthya Bima Yojana (RSBY) SBI Life Swayam Shikshan Prayog (SSP) Tata AIG Uplift VimoSEWA Weather Risk Management Services (WRMS) Yeshesvini (Colombia) Fonkoze (Haiti) Mapfre (Brazil) Mapfre (Colombia) QBE (Brazil) Seguros Futuro (El Salvador) Solidaria and La Equidad (Colombia) SINAF (Brazil) Zurich (Bolivia) Other/global Aga Khan Agency Microfi nance (AKAM) Allianz Aon Affi nity Cenfri Guy Carpenter MicroEnsure Micro Insurance Academy MicroInsurance Centre Microinsurance Network Munich Re PlaNet Guarantee Swiss Re Zurich Th is book was prepared under the auspices of the Microinsurance Network, formerly known as the CGAP Working Group on Microinsurance. As a memberbased association of donors, multilateral agencies, insurance and social protection providers, policymakers and academics, the Network provides a platform for information sharing and stakeholder coordination with the aim of promoting the development and proliferation of insurance services for low-income persons.
Acknowledgements xv The Network provided a five-person Editorial Board that was responsible for shaping the overall outline of the book, helping to identify authors and reviewers, and also provided reviews for a number of chapters. The Board – Doubell Chamberlain (Cenfri), Iddo Dror (Micro Insurance Academy), Michael McCord (MicroInsurance Centre), Dirk Reinhard (Munich Re Foundation) and Rupalee Ruchismita (CIRM) – provided essential contributions and guidance. This book would not have been possible without financial, technical and logistical support from the Munich Re Foundation, especially Martina Mayerhofer, Dirk Reinhard and Thomas Loster. Munich Re Foundation’s Annual Microinsurance Conferences, co-sponsored by the Microinsurance Network, remain an on-going source of inspiration and insight, providing considerable material for the book. Although funding for the book came from the Munich Re Foundation, we would also like to acknowledge additional donors who provided funding for content development, especially the Bill & Melinda Gates Foundation, which contributed to many of the chapters through its support of the ILO’s Microinsurance Innovation Facility. Additional support for some chapters was provided by the Consultative Group to Assist the Poor (CGAP), FinMark Trust, Gesellschaft für Internationale Zusammenarbeit (GIZ), Luxembourg Ministry of Foreign Affairs, Swiss Development Cooperation (SDC) and USAID. More than 50 people co-authored chapters of this book and nearly 80 people were involved in reviewing them. To acknowledge their inputs, each chapter specifies the authors and the reviewers. Our colleagues in the ILO’s Microinsurance Innovation Facility deserve a particular mention for their tireless involvement in the writing, reviewing and editing process. Dozens of others have helped with the administration, proof-reading, layout and typesetting. Behind the scenes, Abigail Gray, Lauren Peterson and David Saunders provided invaluable administrative, editorial and technical assistance. Important contributions were also made by Nalina Ganapathi of the ILO’s Social Finance Programme, Charlotte Beauchamp and Alison Irvine of the ILO’s Publications Department, and Anton Sandbiller from Munich Re’s publication department. Copy editing was performed by Andrew Lawson of Munich Re’s language department, layout and typesetting by Marcus Maurer, Anja Gindele and Andreas Töll. Many thanks to all. Lastly, we dedicate this book to the memory of our colleague José Navarro, an actuary and humanitarian, whose passion for protecting the poor continues to inspire us all. Craig Churchill and Michal Matul Social Finance Programme, Employment Sector International Labour Organization Geneva, Switzerland
Page 1: Protecting the poor A microinsuranc
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Page 24 and 25: 2 Introduction Benefits for the wor
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The potential of microinsurance for
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56 Emerging issues Th ese funds and
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58 Emerging issues year precipitati
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60 Emerging issues pre-emptively en
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62 Emerging issues 3.2 The current
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64 Emerging issues Hence, this chap
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66 Emerging issues Table 3.1 Impact
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68 Emerging issues Expenditure Indi
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70 Emerging issues Box 3.2 Impact o
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72 Emerging issues Box 3.3 Insuranc
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74 Emerging issues Utilization rate
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76 Emerging issues also measured. 1
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78 Emerging issues among members of
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80 Emerging issues 3.3.3 Psychologi
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82 Emerging issues this direction.
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84 Emerging issues Th is chapter be
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86 Emerging issues In many regions,
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88 Emerging issues Box 4.1 ICICI Lo
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90 Emerging issues Th e involvement
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Microinsurance and climate change s
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Microinsurance and climate change M
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Microinsurance and climate change B
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Microinsurance and climate change -
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Microinsurance and climate change 1
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Microinsurance and climate change 4
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II Health insurance
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Innovations and barriers in health
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Th ird-party payment mechanisms in
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Willingness to pay for health micro
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176 8 Savings in microinsurance: Le
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178 Life insurance - Understanding
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180 Life insurance Finally, the stu
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182 Life insurance Max Vijay offere
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184 Life insurance 8.2.3 SBI Life
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186 Life insurance - Reward for pre
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188 Life insurance capacity, and co
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190 Life insurance and administrati
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192 Life insurance 2. A surrender t
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194 Life insurance be earned from o
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196 Life insurance four of them), p
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198 Life insurance 9.1 What is cred
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200 Life insurance 9.2 Who benefits
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9.2.2 Lenders 202 Life insurance Fo
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204 Life insurance easy product. Wi
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Table 9.2 206 Life insurance Value
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208 Life insurance 9.4.1 Enhanced l
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210 Life insurance An enhancement f
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212 Life insurance 9.5.1 Period of
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214 Life insurance The focus of ins
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216 Life insurance Insurers and len
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218 Life insurance Box 10.1 Mapping
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220 Life insurance Living in the sh
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Table 10.1 222 Life insurance Copin
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224 Life insurance 10.2.2 Is it ins
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226 Life insurance such other tangi
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228 Life insurance “Sold, not bou
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230 Life insurance While funeral pa
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232 Life insurance case of funeral
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234 Life insurance 1. Protecta Clas
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236 Life insurance 5. It makes busi
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238 11 Designed for development imp
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240 General insurance For reasons t
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242 General insurance Once an indem
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244 General insurance 11.1.3 Option
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246 General insurance possible inde
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248 General insurance Conducting a
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250 General insurance costs and the
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252 General insurance the most risk
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254 General insurance from competit
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256 General insurance Th is factor,
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258 12 Livestock insurance: Helping
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260 General insurance Depending on
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262 General insurance cultural poli
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264 General insurance 12.3 Difficul
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266 General insurance Improved iden
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Table 12.4 268 General insurance In
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270 General insurance Table 12.5 Pa
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272 General insurance require tappi
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274 13 The psychology of microinsur
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276 Insurance and the low-income ma
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286 14 Emerging practices in consum
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300 15 Improving client value: Insi
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16.4.4 Donors 348 Insurance and the
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VI Insurers and microinsurance 367
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Is microinsurance a profitable busi
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19 Teaching elephants to dance: The
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Teaching elephants to dance 19.1.2
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Teaching elephants to dance Box 19.
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Teaching elephants to dance 409 the
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20 State and market synergies: Insi
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Insights from India’s microinsura
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486 22 New frontiers in microinsura
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488 Delivery channels and intermedi
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VIII Protecting consumers while pro
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The technology revolution in microi
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Th e technology revolution in micro
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Access to insurance and financial s
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568 Infrastructure and environment
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About the authors 597 Doubell Chamb
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About the authors 599 tions in micr
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About the authors 601 nomics of ban
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About the authors 603 in 1997, John
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Bibliography 605 Arun, T.G.; Steine
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Bibliography 607 Chen, T.; Comfort,
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Bibliography 609 Dror, D.; Jacquier
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Bibliography 611 Gruber, J. 2007. P
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Bibliography 613 Kunzemann, T. 2010
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Bibliography 615 Microinsurance Inn
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Bibliography 617 —; Vanderhyden,
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Bibliography 619 Sterling, R. 2000.
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Bibliography 621 Wright, G.; Mutesa
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Index 623 Senegal 417 social/financ
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Index 625 partners 383-4, 417 premi
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Index 627 funeral insurance 226-8 g
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Index 629 risk factors 120-1 risk-p
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Index 631 KaSAPI 12, 26 Kenya 14-15
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Index 633 impact 36, 59-61 as socia
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Index 635 gender differences 331 pu
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Index 637 Sandmark, Therese 582 San
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Index 639 USAID 3n1 UT Life 535, 54
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