Paper
Making Insurance Work for the Poor (Microinsurance Conference 2007)
Proceedings from the conference "Microinsurance conference: Making Insurance Work for the Poor"
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The Microinsurance Conference, 2007 brought together insurers, regulators, policymakers, donors, researchers, consultants and NGOs to exchange knowledge and experience. The main theme was regulation, supervision and policy approaches that facilitate access and ensure sustainability of the microinsurance model. The agenda included innovative microinsurance products, improving efficiencies and enhancing benefits in the sector, and a comparison from the perspective of the poor of group and individual insurance.Conference participants agreed on the need to redouble the efforts to grow microinsurance that is inclusive and of real value to the poor. They also agreed on the need to:
- Develop location-specific solutions;
- Design simple, demand-driven products;
- Educate the market and earn its trust;
- Maximize efficiencies to ensure sustainability;
- Leverage existing relationships;
- Create institutional space to form a microinsurance culture.
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