Microinsurance : Extending Pro-Poor Risk Management through the Social Fund Platform
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World Bank, Washington, DC
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Microinsurance (MI) can be an effective
complement to existing menus of social protection programs.
A flexible and powerful instrument, MI reduces vulnerability
and mitigates the negative effects of external shocks on
poor households. However, MI programs require well-developed
institutional arrangements in order to run in an efficient
and effective manner. Such conditions can be difficult to
find in low-income countries. Social funds can help bridge
this gap, standing as a platform to organize and deliver MI
products. This social funds innovations note introduces some
of the primary design principles behind MI program
development, highlighting cases of best practice, and
suggests how social funds can be used to deliver MI services
more effectively to poor households.
Palabras clave
ACCESS TO INSURANCE, ADMINISTRATIVE COSTS, ADVERSE SELECTION, AGRICULTURAL INSURANCE, ASSET BASES, BASIS RISK, BENEFICIARIES, BORROWER, CASH FLOW, CASH MANAGEMENT, CASH RESERVES, CLIENT BASE, CLIENT BASES, COMMERCIAL BANKS, COMMUNITY INSURANCE, COMPUTER KIOSKS, CONSUMPTION SMOOTHING, COOPERATIVES, COVERAGE, CREDIT ARRANGEMENTS, CREDIT LIFE INSURANCE, DEBT, DEBT PAYMENTS, DEFICITS, DEVELOPING COUNTRIES, DISASTER INSURANCE, DISASTERS, DUE DILIGENCE, ECONOMIES OF SCALE, EXISTING INFRASTRUCTURE, FINANCIAL INSTITUTIONS, FINANCIAL PRODUCT, FINANCIAL RESOURCES, FINANCIAL SERVICES, FINANCIAL SHOCK, FINANCIAL SUSTAINABILITY, GENERAL INSURANCE, HEALTH CARE, HEALTH INSURANCE, HEALTH INSURANCE PROGRAM, HEALTH INSURERS, HEALTH PLAN, HEALTH PROGRAMS, HEALTH SERVICE, HUMAN DEVELOPMENT, INCOME, INCOME HOUSEHOLDS, INFORMAL INSURANCE, INSTITUTIONAL CAPACITY, INSTITUTIONAL DEVELOPMENT, INSTRUMENT, INSURANCE COMPANIES, INSURANCE COMPANY, INSURANCE MARKET, INSURANCE MARKETS, INSURANCE PREMIUM, INSURANCE PREMIUMS, INSURANCE PRODUCT, INSURANCE PRODUCTS, INSURANCES, INSURER, INTERNATIONAL LABOUR ORGANIZATION, LIFE INSURANCE, LIFE INSURANCE POLICY, LIFE INSURANCE PRODUCTS, LOAN, LOAN AMOUNT, LOAN PRODUCTS, LOAN REPAYMENTS, LOCAL BANK, LOCAL GOVERNMENT, LOW-INCOME COUNTRIES, MARKET PARTICIPANTS, MICRO-INSURANCE, MICROCREDIT, MICROFINANCE, MICROFINANCE INSTITUTION, MICROFINANCE INSTITUTIONS, MICROINSURANCE, MITIGATION, MORAL HAZARD, MORAL HAZARD PROBLEMS, MORTALITY, NATURAL DISASTER, NATURAL DISASTERS, OPERATIONAL EFFICIENCY, PAYMENT OBLIGATIONS, POLICYHOLDERS, PORTFOLIO, PREMIUM PAYMENTS, PREMIUMS, PRIVATE INSURANCE, PRIVATE INSURERS, PRIVATE SECTOR, PRIVATE SECTORS, PROGRAMS, PROPERTY INSURANCE, PUBLIC HEALTH, PUBLIC-PRIVATE PARTNERSHIP, RATES, REGULATORS, REGULATORY ENVIRONMENT, REINSURANCE, REINSURERS, RESERVES, RETURN, RETURNS, RISK ASSESSMENT, RISK EXPOSURE, RISK MANAGEMENT, RISK POOLING, RISK TRANSFER, SAFETY NET, SAFETY NETS, SAVINGS, SETTLEMENT, SMALL ENTERPRISE, SOCIAL FUND, SOCIAL FUNDS, SOCIAL NETWORKS, SOCIAL PROTECTION, SOCIAL PROTECTION STRATEGY, SOCIAL RISK, SOCIAL RISK MANAGEMENT, SUSTAINABILITY, TECHNICAL ASSISTANCE, TRANSACTION, TRANSACTION COSTS, TRANSFER PAYMENTS