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2012 Annual Conference and the 1st African SPM Conference
from 24/09/2012 to 29/09/2012
Kampala (Uganda)
The Africa Microfinance Network (AFMIN) will organize its 11th Annual Conference
and the 1st African SPM Conference in Kampala, Uganda, from September 24th to 29th, 2012
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MicroInsurance
Microinsurance refers to insurance designed to protect under-served low-income people against specific perils in exchange for low premiums. The emphasis on protecting the poor highlights the need that microinsurance should be responsive to the risks the poor are most exposed to. The emphasis on low-income people stresses that premiums should be low yet proportionate to the likelihood and cost of the risk involved. Reaching the under-served means servicing low-income people through delivery channels that are atypical compared to the traditional distribution of top-down social or commercial insurance schemes.
The “micro-” in microinsurance may refer to the subset of insurance products that are characterized by low premiums and low coverage limits, on the assumption that these suit the needs of low-income people. Alternatively, the term “micro” may refer to the grassroots level at which decisions are taken: by groups of under-served poor people who organize in self-help groups, social-collateral groups and similar reciprocal and mutual formations through which the poor pool risks and resources among themselves, in a process they know and trust.
Microinsurance does not refer to the size of the risk-carrier. Some risk carriers are small and even informal, while others are large companies. Microinsurance does not refer to the size of the delivery channel or the scope of the risk. The risks themselves are not “micro” to the households that experience them.
Microinsurance can be delivered through a variety of channels, including small, community-based organizations, credit unions and other microfinance institutions, utility companies, schools, churches, retail stores and many others. Providers can range from small informal schemes to large insurance companies such as AIG Uganda, Mapfre in Colombia or Delta Life in Bangladesh.
Resources :
Health Insurance: Opportunities and Challenges
Jan 2008, Duflo, E., Banerjee, A., Glennerster, R. & Hornbeck, R. Evaluating impact of offering health insurance to MFI clients This article examines effects of men’s and women’s participation in group-based microcredit programs on various indicators of women’s empowerment using data from a survey carried out in rural Bangladesh in 1998–99.The study tests the assertion that participating in microcredit programs is an empowering experience for women whose life choices are otherwise restricted through poverty, patriarchy and societal or religious norms. Study results are consistent with the view that women’s participation in microcredit programs helps increase their empowerment. Credit programs: * Help women participate in household decision making, have greater access to financial and economic resources, and better social networks; * Help women increase their bargaining power in relation to their husbands, and give them greater freedom of mobility; * Increase spousal communication in terms of family planning and parenting concerns. Effects of male credit on women’s empowerment were generally negative. Male microcredit programs had a negative effect on overall measures of empowerment for eligible households, and specifically, on women’s control of resources, finance, freedom of movement and development of networks, and on fertility and parenting decisions.
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Reducing Vulnerability of the Poor through Social Security Products: A Market Survey on Microinsurance in Bangladesh
20 Feb 2007, Al Hasan, R. Mitigating economic and social shocks through insurance This survey takes stock of existing microinsurance products offered by MFIs/NGOs as well as mainstream insurance companies in Bangladesh. It advocates financially and operationally sustainable microinsurance products for the poor. The study examined 92 NGOs/MFIs, out of which 61 reported offering microinsurance products. It found that microinsurance is gaining attraction and popularity in Bangladesh, but information and documentation on microinsurance from MFIs/NGOs is scarce. Features of microinsurance in Bangladesh include: * NGO/MFI microinsurance covers nearly 21 million clients; * 85 percent of clients are female; * Among the 10 insurance companies, nine companies reported outreach of approximately 4.5 million clients; * Cumulative premium collected for different microinsurance products and plans by the 10 insurance companies are approximately Tk.11,275 million; * NGOs cover risks such as primary health, hospitalization, life, loans and property; * 61 MFIs/NGOs offer total 81 insurance schemes of different products. Product design and policyholder issues discourage NGOs/MFIs and insurance companies from tapping poor households with insurance products. Microinsurance providers should consider clients' needs and demands. They should study actual demand as well as affordability of premium rate from the clients’ point of view.
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Designing Insurance for the Poor
Dec 2007, Dercon, S. Devising effective insurance interventions for poor communities This brief focuses on the design of insurance schemes for poor communities. It discusses the nature of risk in developing countries, and the characteristics and scope of insurance to meet the needs of the poor. Insurance interventions for the poor need to take into account the surrounding environment, other interventions affecting risk and the way potential consumers respond to risk. Specific interventions should be targeted at existing groups, especially those with developed forms of insurance provision and mutual support. Working with groups has considerable advantages, such as: * Reduced risk of adverse selection; * Reduction in monitoring costs; * Easier targeting; * Existing mutual support systems. Targeting insurance to the poor requires careful design of products as well as educating target groups. In conclusion, successfully devising insurance schemes to meet the needs of the poor requires a holistic approach that considers the risk behavior of users, the surrounding environment, and potential side effects, such as on credit markets. Costs and benefits need to be taken into account along with potential trade-offs.
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Health Micro-Insurance Schemes: Feasibility Study Guide (Volume 1 & 2)
2005, International Labour Organization A guide to assist health micro-insurance promoters to conduct sustainability and feasibility study. This guide states that in many developing countries, the number of health micro-insurance schemes is increasing rapidly. This is testimony to the interest shown in such schemes by the people of those countries and by the promoters of access to social protection and health care. In order to be sustainable and capable of growth, these schemes must be well-designed from the start. For that reason, it is essential to carry out a feasibility study before setting up a scheme or extending its coverage. This guide will assist promoters of health micro-insurance schemes in conducting such a study. It describes the preconditions for setting up a scheme, and most importantly, the characteristics needed to ensure the scheme's viability and effectiveness. The guide is organized in two volumes: * Volume 1 focuses on procedures and provides stakeholders with step-by-step assistance in carrying out the study; * Volume 2 focuses on tools and, for each step, offers practical support in applying the procedure.
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