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Assessing the success of microinsurance programmes in meeting the insurance needs of the poor

Author

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  • Paul Mosley

Abstract

The 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.

Suggested Citation

  • Paul Mosley, 2009. "Assessing the success of microinsurance programmes in meeting the insurance needs of the poor," Working Papers 84, United Nations, Department of Economics and Social Affairs.
    • Handle: RePEc:une:wpaper:84
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    File URL: http://www.un.org/esa/desa/papers/2009/wp84_2009.pdf
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    Citations

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    Cited by:

    1. Abdul Latif Alhassan & Noluyolo Magazi, 2021. "Microinsurance and household asset welfare in South Africa," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 46(3), pages 358-382, July.
    2. Amin Karimu & Samuel Salia & Javed G. Hussain & Ishmael Tingbani, 2021. "Are competitive microfinance services worth regulating? Evidence from microfinance institutions in Sub‐Saharan Africa," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 26(1), pages 476-492, January.
    3. Sodokin, Koffi & Djafon, Joseph Kokouvi & Dandonougbo, Yevessé & Akakpo, Afi & Couchoro, Mawuli K. & Agbodji, Akoété Ega, 2023. "Technological change, completeness of financing microstructures, and impact on well-being and income inequality," Telecommunications Policy, Elsevier, vol. 47(6).
    4. Farrin, Katie & Miranda, Mario J., 2015. "A heterogeneous agent model of credit-linked index insurance and farm technology adoption," Journal of Development Economics, Elsevier, vol. 116(C), pages 199-211.
    5. Heenkenda, Shirantha, 2016. "Inclusive Insurance Sector: An Innovation business model for Microinsurance Delivery in Sri Lanka," MPRA Paper 72480, University Library of Munich, Germany.
    6. Shirantha Heenkenda, 2016. "Inclusive insurance sector: An innovativebusiness model for micro-insurance delivery in Sri Lanka," Journal of Asian Business Strategy, Asian Economic and Social Society, vol. 6(1), pages 1-12, January.
    7. Dr. J.A Prasansha Kumari, 2021. "The Impact of the Dimensions of Microfinance on Poverty Reduction: Confirmatory Factor Analysis (CFA) via Individual Measurement Models," International Journal of Research and Scientific Innovation, International Journal of Research and Scientific Innovation (IJRSI), vol. 8(2), pages 112-121, February.

    More about this item

    Keywords

    microinsurance; microcredit; microsavings; microfinance; risk; insecurity; poverty;
    All these keywords.

    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, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
    • O17 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Formal and Informal Sectors; Shadow Economy; Institutional Arrangements

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