A Landscape Study of Micro Insurance Education
Insurance education is a valuable and important activity because the lack of understanding of microinsurance and its benefits is a major obstablce to the expansion of microinsurance. Those who do not understand how insurance works are unlikely to trust it, and without an understanding of the benefits of insurance, people are less likely to see why the insurance is worth the money spent on it. By creating awareness about insurance, families are at least given the option of considering adding insurance to their family planning strategies. Insurance education is therefore often considered as an integral part of microinsurance schemes; a win-win solution that should add value to clients and provides, and contribute to good practices and consumer protection.
The objective of this landscape study is to identify what insurance education materials and approaches are currently available, recognize existing gaps and some promising practices, and highlight some concrete areas where investment in insurance education can make a positive impact on the extension of microinsurance in developing countries.