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Literature Review on Microinsurance
2008, Dercon, S. & Kirchberger, M.

Examining challenges for widespread and sustainable provision of microinsurance

This paper provides an overview of current literature on microinsurance, and attempts to identify knowledge gaps for further investigation.

Microinsurance caters to the poor, who are otherwise unable to access or afford insurance. The impact of microinsurance can be measured by the amount of protection it provides when a shock occurs (ex-post) as well as its impact on household behaviour before shocks occur. Research on the impact of microinsurance needs to focus on:

Impact on consumption, assets and other dimensions of welfare important to poverty reduction;
Type of clients who benefit most from insurance;
Overall impact of microinsurance on household welfare;
Extent to which low-income households adopt more efficient risk-management strategies when they start using microinsurance;
Reasons for people’s uptake or rejection of insurance products;
Factors that limit insurance usage;
Methods to make insurance products affordable;
Innovative, cost-effective channels of communication and financial education tailored to low-income, illiterate people.

Finally, research on microinsurance supply needs to focus on developing and pricing microinsurance products as well as institutional models and delivery channels.

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Publisher(s):
International Labour Organization