Assessing the success of microinsurance programmes in meeting the insurance needs of the poor
AbstractThe paper reviews attempts to provide insurance against risks afflicting the poorest. It presents empirical evidence on the impact of different types of microinsurance, and recommends the idea of ‘quasi-insurance’—the provision of insurance functions through a non-insurance route—where institutional or regulatory constraints prevent insurance proper from being offered. The paper argues that microinsurance so far has been somewhat supply-driven rather than driven by effective demand, especially from the poorest, and thus the insurance products which would benefit the poorest are still at a limited stage of development. Institutional innovations and new insurance products therefore deserve promotion.
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Bibliographic InfoPaper provided by United Nations, Department of Economics and Social Affairs in its series Working Papers with number 84.
Length: 35 pages
Date of creation: Oct 2009
Date of revision:
microinsurance; microcredit; microsavings; microfinance; risk; insecurity; poverty;
Find related papers by JEL classification:
- G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
- G22 - Financial Economics - - Financial Institutions and Services - - - Insurance; Insurance Companies; Actuarial Studies
- O16 - Economic Development, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
- O17 - Economic Development, Technological Change, and Growth - - Economic Development - - - Formal and Informal Sectors; Shadow Economy; Institutional Arrangements
This paper has been announced in the following NEP Reports:
- NEP-ALL-2009-10-24 (All new papers)
- NEP-DEV-2009-10-24 (Development)
- NEP-IAS-2009-10-24 (Insurance Economics)
- NEP-MFD-2009-10-24 (Microfinance)
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