Clarification Note

Discussion Notes are focused on research MILK will be doing and what we hope to learn through this future research.

MILK Briefs are about research that has been completed and indicate lessons learned from that work.

Condensed MILKs are short one-page summaries of MILK Briefs.

MILK Brief #18: "Doing the Math" - Property Microinsurance in Coastal Colombia MILK Brief #18: "Doing the Math" - Property Microinsurance in Coastal Colombia

Document Information
Name:MILK Brief #18: "Doing the Math" - Property Microinsurance in Coastal Colombia

The MILK Project partnered with MAPFRE Colombia in the department of Magdalena, using its Client Math methodology to explore the value proposition of a comprehensive property microinsurance policy for borrowers of the MFI FundaciĆ³n delamujer. MAPFRE's product was a modular, voluntary insurance product, whereby Fundacion delamujer clients could mix and match structural and contents damage coverage as well as coverage for 3 months of loan payments or of incidental loss of income. This design aimed to make the product relevant and accessible for even the lowest income clients of Fundacion delamujer, who could choose the cheapest coverage options for lost income and loan payment. We find that MAPFRE's product fell short of helping families fully recover from flood damages and lost income and that the fungibility of money and timing of payments makes the story of clients' financial responses particularly complex.


Filename:MILK Brief #18 - Doing the Math - Property Microinsurance in Coastal Colombia.pdf
Published: 02/11/2013
Author:Barbara Magnoni and Derek Poulton