Microinsurance products are designed to be appropriate for the low-income market in terms of access, cost, terms, coverage, and delivery mechanisms. Such a specific market focus requires a systematic product development process. The steps crucial to the success of the process of developing microinsurance products are detailed in this manual. Following this process will help those developing microinsurance products to improve their potential for product success, while saving money and reputation.  This manual covers the following steps: institutional assessment, market research (demand, supply, delivery, regulations), prototype design and testing, partnerships, product design, pilot testing and review, rollout, and continuous assessment.