Finance and Treasury

Microinsurance and Inclusive Insurance Products

Low income households carry the risks that push families into poverty and buy almost no formal cover, and most products designed for them fail on distribution cost and on claims that never get paid. This course works on both. Delegates work through the risks low income households actually face and which of them insurance can address. Product design for simplicity is covered, including cover a person can understand from a single page and the exclusions that quietly make a product worthless. Distribution follows: mobile network channels, retailers, cooperatives, funeral parlours and aggregators, with the economics of each. Premium collection at small values is addressed. Claims processes designed for people without documentation are covered directly, since a claim requiring papers the claimant does not have is a declined claim. Index and parametric products are addressed for weather and agriculture. Consumer protection and value measurement follow. The course closes on scale, sustainability and honest claims ratios.