What is microinsurance? Why is it important? How do microinsurance markets typically develop? What are the benefits of a deliberate strategy or process to develop microinsurance? What steps can be taken to develop the microinsurance market in a particular country? What are the issues to consider in doing so and what are the possible risks involved?
This document will consider these and other questions by drawing on country experience in microinsurance development thus far1. It is aimed at any interested party wishing to proactively promote microinsurance development in a specific country. It is intended as a practical tool to guide the reader in unpacking the process of a microinsurance development strategy and the fundamental questions underlying it. It highlights the considerations to take into account, steps, stakeholders, issues that may arise and desired outcomes of the microinsurance development process. Finally, it provides guidance on the core, practical questions faced by stakeholders aiming to promote microinsurance market development. Essentially, it groups these questions into three categories – “why”, “what” and “how”.
