Category: Microinsurance India

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Online Travel Insurance Companies in India – 2015 Reviews

So are you planning to travel to the United States, Australia or Germany this year ? Most Indians while planning a tour abroad do not intend to purchase any travel insurance, only when it is made compulsory by the Visa issuing authorities, do we purchase it. Travel insurance is compulsory for students going abroad for higher […]

micro insurance

Microinsurance – A slow onset revolution?

By Dirk Reinhard , Vice Chairman, Munich Re Foundation and Member of the Executive Committee of the Microinsurance Network The Microinsurance Network will soon become a teenager. After nearly a decade of work, we can be proud of what this group has achieved. It has facilitated the creation of organizations such as the ILO’s Microinsurance Innovation […]

microinsurance india

2012 Research Conference on Microinsurance – Netherlands

The Institute for Innovation and Governance at the University of Twente will be organizing a global research conference on Microfinance on 11,12 and 13 April 2012 in Enschede, the Netherlands. The Microinsurance conference will be supported by : Institute for Governance Studies (IGS), The African Studies Centre (ASC), The Microinsurance Network (MIN), The Center for […]

life insurance products india

Why Buying Life Insurance Online is Good for You?

Till 21 months ago life insurance as a product category was only sold through intermediaries. These could be life insurance agents, corporate agents, banks and brokers. These sales were driven largely by the commissions to be derived from such a sale and less by the needs and interests of customers. This resulted in a basic […]

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Moving microinsurance beyond micro-business

Delivering Value through Clever Distribution By Anja Smith – Director of the Centre for Financial Regulation and Inclusion (Cenfri) Internationally, insurers have been experimenting with developing and extending microinsurance products to clients in new and innovative ways during the last decade. For the ILO and FinMark Trust, I recently had the privilege of studying the […]

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Sompo Japan’s microinsurance business in India

Alleviating Poverty and Supporting Self-sufficiency with Microinsurance in India Sompo Japan’s Indian subsidiary, Universal Sompo General Insurance Co., Ltd. (USGI), has introduced microinsurance products to facilitate the use of microfinance provided by banks in impoverished rural communities. This initiative is based on the concept of “community development with insurance,” which uses insurance to mitigate social […]

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Microinsurance sector needs solid regulation

The sector needs solid regulations to enable growth and protect low income consumers. By Yoshi Kawai, Secretary General, IAIS, Switzerland The International Association of Insurance Supervisors (IAIS) provides a globally accepted framework for the supervision of the insurance sector. This October, the IAIS will be releasing 26 revised Insurance Core Principles, with corresponding standards and […]

microinsurance grants india

ILO Microinsurance Internship Opportunity in India 2011

Internship The Microinsurance Innovation Facility is offering a six-months internship. This intern will support the activities of the Consulting & Capacity Building Programme. Application deadline is 31 March 2011 for India. Fellowship programme Fellowships allow young professionals to gain hands-on experience in microinsurance by working onsite in a microinsurance programme under the remote guidance of a […]

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Making Insurance markets work for farmers in India

The World Bank has released a report on the state of crop insurance for farmers in India and various problems that plague this sector. Abstract India’s crop insurance program is the world’s largest with 25 million farmers insured. Yet 85 million farmer households are not covered. Issues in design, particularly related to delays in claims […]

ilo microinsurance andhra pradesh

What is the impact on microinsurance of the microfinance crisis in Andhra Pradesh?

By Bernd Balkenhol, Director, ILO’s Social Finance Programme The microfinance industry suffered a serious crisis in the Indian state of Andra Pradesh in recent months, resulting from a combination of factors, including overindebtedness among low-income households and massive growth of microfinance institutions (MFIs). The success of the MFIs has attracted more players, both formal and […]

microinsurance grants india

Microinsurance Grants worth Rs 13 Crore available from ILO Microinsurance Innovation Facility

Last date for submitting online proposal is 25th January 2011. The Microinsurance Innovation Facility, launched in 2008 with support from the Bill & Melinda Gates Foundation, has issued a new call for proposals for its innovation grants programme. This new round is focused on ‘scale and efficiency’ and is funded by the Z Zurich Foundation of […]

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Microinsurance Report 2010 – By Allianz Group

Aiming to share its experience in how to design, deliver and scale sustainable microinsurance products and to help set the right course for next steps, Allianz has published a new microinsurance report, “Learning to insure the poor”. With 3.8 million customers in Asia, South America, and Africa, the Allianz Group is among the world’s largest […]

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Bharti AXA General Insurance ties up with Microfinance Institutions

Bharti AXA General Insurance, which is among largest players in the Indian insurance sector has joined hands with Anjali Microfinance and Arohan Microfinance to start the distribution of its micro insurance products for the rural populations in the east and northeastern parts of India.This tie up would enable the company to service households in West Bengal, Orissa, […]

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Microinsurance Newsletter by ILO – Innovation Flash – Vol 6

Innovation Flash is the Newsletter of the Microinsurance Innovation Facility at the International Labour Organisation(ILO).ILO is in the process of finalizing grants for innovation in micro insurance. From their Newsletter… INNOVATION GRANTS for Micro Insurance The Facility is in the final stages of the Round 4 selection process. The 235 applications, including 56 for capacity […]

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Why The World's Poor Refuse Insurance

There are higher-yielding varieties of groundnut than those that farmers in Malawi tend to plant, but getting them to switch is tough. Better seed is pricey, increasing their risk. So researchers from the World Bank ran an experiment. With local NGOs, they offered the farmers loans. Some loans even came with a crop-insurance policy: if […]

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LIC launches new microinsurance policy for Microfinance sector

The Life Insurance Corporation of India on Friday launched its second micro insurance product ‘Jeevan Mangal’. The first being ‘Jeevan Madhur’, an Endowment Assurance plan and ‘Jeevan Mangal’ are customized offerings to cater to the distinct needs of the most vulnerable low income sections of Indian population. ‘Jeevan Mangal is a term assurance plan with […]

IDBI Fortis in pact with RRDC for rural poor

It has already sold 3500 policies targeted at rural poor in partnership with the Regional Rural Development Centre (RRDC), the Orissa based developmental organisation. As a measure to promote financial inclusion in rural Orissa, IDBI Fortis and RRDC have entered into a tie up for offering TGS policies protecting the lives of rural poor. Talking […]

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India: A Microinsurance Revolution

Two million new insurance clients in less than a year and plans for up to ten million by the end of 2009—such numbers are only possible in a country like India. Yogesh Gupta, microinsurance specialist at Bajaj Allianz, explains the story behind these numbers. Yogesh Gupta, Head of Business Procurement & Microinsurance Business, Bajaj Allianz, […]

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From Microfinance Into Microinsurance

Forbes has a article on the nascent micro insurance sector on its website From Microfinance Into Microinsurance The financial services industry is facing unprecedented challenges worldwide due to excessive risk-taking. Complicated investment vehicles, insufficient transparency and excessive swapping of credit default risk have had a severe and pervasive impact on confidence. The world’s most advanced […]