Microinsurance Learning and Knowledge (MILK) Project

Do low-income families really benefit from microinsurance?
Is it true that there is a business case for microinsurance?

The MILK Project, a three-year initiative of the MicroInsurance Centre at Milliman which ended in 2014, was designed to help answer these questions.

With support from the Bill and Melinda Gates Foundation, MILK focused on providing answers to these questions based on data and research. Through a better understanding of client value and the business case in microinsurance, stakeholders are better informed, better prepared, and better able to make rational decisions about their interventions in microinsurance. By testing key assumptions, we also gained a more realistic vision for microinsurance.

Visit our MILK Project YouTube Channel to watch videos created during fieldwork!


MILK Working Definition of Business Case

Is the investment of capital and other resources in microinsurance justified over time such that the benefits, costs and risks balance out to create a commercial rationale for an insurer, intermediary or distributor seeking to enter and / or maintain a position in microinsurance?


MILK Working Definition of Client Value

The value of microinsurance, either direct or indirect, represents the added value in comparison to other available risk coping mechanisms, of having insurance either when claims are made or as a result of the changed behavior caused by owning a policy and trusting that it will be honored. Client value is comprised of:

  1. Expected value: the value clients may get from a product through behavioral incentives and “peace of mind”, even if claims are not made
  2. Financial value: the value of the product when claims are made as it compares to other coping strategies
  3. Service quality value: the externalities created by providing access to product-related services


Categories of MILK Publications

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