Paper
Status of Microinsurance in Southeast Asia: The Cases of Cambodia, the Philippines and Vietnam
Protecting the poor from risks through microinsurance
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52 pages
This paper outlines the current status of microinsurance in Southeast Asia. It is published by the Asia-Pacific Rural and Agricultural Credit Association (APRACA).
The paper gives an overview of the microinsurance sector in Cambodia, the Philippines and Vietnam and profiles major implementing institutions in each country. The study focuses on socioeconomic structure, market conditions, legal framework, development plan and advocacy of microinsurance in these countries.
The paper states that microinsurance has established itself in the development context of Vietnam, Cambodia and the Philippines. Conclusions include:
- Microinsurance industry is relatively new in Cambodia and Vietnam and lacks regulatory framework;
- Philippines has a conducive policy environment and regulatory framework;
- MFIs are in a unique position to offer microinsurance on account of trust and relationships with marginalized communities;
- Donors and providers of technical assistance are crucial for growth of microfinance;
- Training, advocacy and awareness- building on microinsurance need to be integrated into regular operations framework.
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