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Client Perceptions of the Value of Microinsurance: Evidence from Southern Ghana

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  • Lena Giesbert
  • Susan Steiner

Abstract

The uptake of microinsurance in developing countries falls short of projections, which has recently made stakeholders focus on client value. This article investigates when and why clients of a micro life insurance product in Ghana perceive value, using data from focus group discussions. We show that value depends not only on costs and monetary benefits but also on the service quality, emotions and social benefits that are associated with the product. Perceptions of high or low value can be explained by how expectations compare with actual experiences with the insurance as well as the specific client context. Peers strongly influence each other in their value perceptions. Copyright © 2015 John Wiley & Sons, Ltd.

Suggested Citation

  • Lena Giesbert & Susan Steiner, 2015. "Client Perceptions of the Value of Microinsurance: Evidence from Southern Ghana," Journal of International Development, John Wiley & Sons, Ltd., vol. 27(1), pages 15-35, January.
    • Handle: RePEc:wly:jintdv:v:27:y:2015:i:1:p:15-35
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    1. Emmanuelle Auriol & Julie Lassébie & Amma Panin & Eva Raiber & Paul Seabright, 2020. "God Insures those Who Pay? Formal Insurance and Religious Offerings in Ghana," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 135(4), pages 1799-1848.
    2. Isaac Akomea-Frimpong & Caleb Boadi & Roger Owusu-Boafo, 2021. "Determinants and challenges of supplying microlife insurance in Ghana," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 46(3), pages 331-357, July.

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