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MMU Products – Insurance

Microinsurance aims to protect the assets of low-income individuals and families from natural disasters, illness, death, accidents, crop failure. With the advent of mobile money, microinsurers are being forced to develop new and affordable products.

The platform can be used to reduce delivery costs, for example, mobile money can let customers enrol and make premium payments remotely, saving both time and money. It also lets operators and practitioners respond to growth, competition and regulation.

In this section you’ll find articles, blog posts and other useful resources for researching this topic.

1. WHAT IS MICROINSURANCE?

Protecting the poor: A microinsurance compendium

Author : Craig Churchill, International Labour Organization

Essential reading for insurance professionals, practitioners and anyone involved with offering insurance to low-income people. This volume discusses microinsurance in detail, covering 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 Foundation

Kilimo Salama (“Safe Agriculture”) is an insurance for Kenyan farmers so they can insure their farm against drought or excess rain. The project is a partnership between Syngenta Foundation for Sustainable Agriculture, UAP Insurance, and Safaricom.

 

Hand held Doctors and Mobile Premium Payments: How Technology can Improve Insurance for the Poor

Author : International Labour Organization

The ILO’s Microinsurance Innovation Facility looks at how microinsurance providers are using technology to overcome the industry’s challenges.

Emerging Practices in Mobile Microinsurance

Author : MMU

The mobile platform, including mobile money, can be used as a tool to reduce the costs of microinsurance and to help it to scale.

3. OTHER RESOURCES

Technology for Microinsurance Scoping Study

Author : Eric Gerelle and Michiel Berende, International Labour Organization

CGAP Working Group on Microinsurance (WGMI) and the Microinsurance Innovation Facility compiled an inventory of information technologies that are applicable in offering insurance services to low-income households.

Promising Starts in Mobile Microinsurance: Tigo Senegal & Telenor Pakistan

Author : Phil Levin, MMU

The global microinsurance market is estimated at 4 billion individuals, but the cost of selling and administering low-value policies makes microinsurance uneconomical for many traditional providers.

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