Microinsurance aims to protect the assets of low-income individuals and families from natural disasters, illness, death, accidents, crop failure, etc., enabling them to manage their risks better. With the advent of mobile money, micro insurers are being forced to develop new and affordable products, integrating these new technologies into their business processes while maximizing service delivery. The mobile money platform can be used as a tool to reduce delivery costs. For example, mobile money can provide customers the ability to enrol and make premium payments remotely, saving both time and money allowing both MNOs and practitioners to respond to the combined pressures of growth, competition and regulation.
In this section we highlight articles, blog posts and other resources that operators might find useful when researching this topic.
1. What is Microinsurance?
Protecting the poor: A microinsurance compendium
Author : Craig Churchill, International Labour OrganizationEssential reading for insurance professionals, practitioners and anyone involved with offering insurance to low-income persons, this volume covers the many aspects of microinsurance in detail including product design, marketing, premium collection and governance.
2. How can microinsurance products ride on the rails of the mobile money platform?
Kilimo Salama
Author : Syngenta FoundationKilimo Salama (“Safe Agriculture”) is an insurance designed for Kenyan farmers so they may insure their farm inputs against drought and excess rain. The project, which is a partnership between Syngenta Foundation for Sustainable Agriculture, UAP Insurance, and Safaricom.
Will Mobile Money Bring Microinsurance to the Poor?
Author : Camilo Tellez, GSMAThis post examines more broadly the intersection of microinsurance and mobile money and gives examples of commercial ventures.
Innovation in Health Microinsurance and Savings
Author : Camilo Tellez, GSMAThis post highlights Changamaka, an innovative product in Kenya which aims to revolutionize access and delivery of primary health care and essential drugs through innovative technology and distribution mechanisms—such as their mobile-based maternal health insurance product.
Hand‐held Doctors and Mobile Premium Payments: How Technology can Improve Insurance for the Poor
Author : International Labour OrganizationThe ILO’s Microinsurance Innovation Facility looks at how microinsurance providers are using technology to overcome the industry’s challenges.
3. Other Resources
Technology for Microinsurance Scoping Study
Author : Eric Gerelle and Michiel Berende, International Labour OrganizationThis study was part of the effort by the CGAP Working Group on Microinsurance (WGMI) and the Microinsurance Innovation Facility to compile an inventory of information technologies that are or could be applicable in the extension of insurance services to low-income households
