Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.

Building the Insurance Market

Senior managing director Andrea Keenan's presentation from the ICMIF Biennial Conference. Andrea discussed the basics of microinsurance, take a look!

  • Login to see the comments

  • Be the first to like this

Building the Insurance Market

  1. 1. Andrea Keenan Senior Managing Director Building the Insurance Market 2015 ICMIF Biennial Conference 8 October 2015 Minneapolis, Minnesota
  2. 2. Microinsurance Basics 2 • Offers simple policies to low-income customers with small premiums and low sums assured • Alternatives to insurance for this population: – Family/friend loans or gifts – Savings – Selling assets • Target demographic: – Income $1.25-$4.00 / day Traditional Insurance Microinsurance Government (or other) Assistance GDPPerCapita
  3. 3. Targeted Groups in Micro 3 Income Quintiles (Avg GDP per capita) Microinsurance target range
  4. 4. Targets in India & Philippines 4 Income Quintiles (Avg GDP per capita)
  5. 5. Today’s Landscape 5
  6. 6. Micro Programs: What works? 6 • Profitability ≈ 𝒄𝒐𝒗𝒆𝒓𝒆𝒅 𝒍𝒊𝒗𝒆𝒔) 𝒙 (𝒖𝒏𝒊𝒕 𝒑𝒓𝒆𝒎𝒊𝒖𝒎 𝒄𝒍𝒂𝒊𝒎𝒔 + 𝒇𝒊𝒙𝒆𝒅 𝒄𝒐𝒔𝒕𝒔 + (𝒗𝒂𝒓𝒊𝒂𝒃𝒍𝒆 𝒅𝒊𝒔𝒕𝒓𝒊𝒃𝒖𝒕𝒊𝒐𝒏 & 𝒂𝒅𝒎𝒊𝒏 𝒄𝒐𝒔𝒕) • A successful, sustainable program relies on a formula of large scale and low cost. Formula derived from MILK / MicroInsurance Centre Maximize High! Minimize Minimize
  7. 7. Cost Reduction Techniques 7
  8. 8. Financial Inclusion Wave 8 • Microinsurance is no longer a novel phenomenon • Active in micro: