Insurance for the Poor: Definitions and Innovations

Craig Churchill
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Craig Churchill: International Labour Organization, Geneva

Chapter 25 in The Handbook of Microfinance, 2011, pp 537-562 from World Scientific Publishing Co. Pte. Ltd.

Abstract: AbstractThis paper describes the diverse roots of microinsurance, including affinity groups, microfinance providers, social protection advocates, and insurers seeking their fortune at the bottom of the pyramid. It defines microinsurance and explains its key differences from traditional insurance, as well from other financial services that target the poor. It highlights the importance of taking a broad view of microinsurance so that it is not seen as just another financial service offered by MFIs. This article then illustrates some innovations that are emerging in product design and distribution that may have the potential to provide improved protection to the poor.

Keywords: Microfinance; Poverty; Microcredit; Informal Markets; Microsavings; Microinsurance; Social Responsibility; Randomized Impact Evaluations; Ethics; Gender; South Asia; Latin America; Africa (search for similar items in EconPapers)
Date: 2011
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