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From Participation To Repurchase: Low Income Households And Micro‐insurance

Renuka Sane and Susan Thomas

Journal of Risk & Insurance, 2020, vol. 87, issue 3, 783-814

Abstract: The article asks what drives the time to repurchase for life and accident insurance contracts in low income households. We use data on customers of a financial services provider from three states in India and find that the probability of repurchase is highest in the first 2 months after the contract expires, and steadily declines after. This suggests a window of opportunity for financial firms and governments to target customers to ensure continuous insurance purchase. Nonmembership of microfinance groups and poor rainfall in the month of expiry affect the time to repurchase adversely. Customers who take longer to repurchase tend to increase the amount of insurance cover.

Date: 2020
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Working Paper: From Participation To Repurchase: Low Income Households And Micro-Insurance (2017) Downloads
Working Paper: From participation to repurchase: Low-income households and micro-insurance (2016) Downloads
Working Paper: From participation to repurchase: Low income households and micro-insurance (2016) Downloads
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Handle: RePEc:bla:jrinsu:v:87:y:2020:i:3:p:783-814