This paper contributes to this discussion by focusing on improving client value rather than proving it. It presents results from the analysis of 15 microinsurance schemes using the ILO’s client value assessment tool called PACE (Product, Access, Cost and Experience). The PACE tool looks at the added value for clients from insurance products by comparing them to each other and to alternative means of offering protection from similar risks (including informal mechanisms and social security schemes). Informal mechanisms and social security schemes provide a benchmark to assess the value of microinsurance in the context of other risk management options.

The PACE tool is structured into the following main dimensions:
Product: describes appropriateness by reviewing coverage, benefit level, eligibility criteria and availability of value-added services
Access: focuses on accessibility and simplicity by investigating choice, enrolment, information, education, premium payment method and proximity
Cost: measures both affordability and value for money, while looking at additional costs to keep down overall costs of delivery
Experience: assesses responsiveness and simplicity by looking at claims procedures and processing time, policy administration, product tangibility and customer care