Microinsurance Lessons from History
On a number of fronts, microinsurance providers wrestle with challenges associated with delivering financial protection to the poor. Developing insurance products, marketing methods, and distribution schemes to fit the particular circumstances and needs of the poor in developing countries has proved challenging. While the problems may be challenging, not all of them are new. Insurance markets in developed countries faced similar problems in the past and continue to confront insurance market issues in the present day. In this MILK publication, we looked to history to examine aspects of the development of life, property catastrophe and health insurance markets in developed countries that are particularly relevant to microinsurance. We then synthesized the lessons arising from their challenges and successes.
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