The Microinsurance Innovation Facility was established in 2008 to support the extension of insurance to millions
of low-income people in the developing world, with the overall aim of reducing their vulnerability to risk.
The primary objective of the Facility is to increase the availability of better insurance products for a greater number of low-income households.
To do this, we need to learn:
- to what extent insurance products can help low-income people to manage risk
- what insurance products are appropriate and how to provide them
- how to develop an insurance culture among the poor
These objectives involve engaging in activities aimed at stimulating the market for microinsurance among low-income people - activities that support the development of insurance products, the emergence of institutional models and partnerships, and the education of potential consumers on the utility and value of insurance.
The Facility works to benefit low-income people in developing countries - who are most vulnerable to risk and least able to cope with crises - by collaborating with:
- Risk carriers such as insurance companies, semi-formal microinsurers and federations of microinsurance schemes
- Delivery channels such as NGOs, cooperatives, labour unions, employer associations, banks, insurance brokers and health care providers
- Insurance industry actors such as claim processors, technical assistance providers, training institutions, insurance associations, IT providers and database management services
- Researchers working in institutes, networks, universities and local resource centres
We are particularly interested in collaborating with institutions, both for-profit and non-profit, in Africa, Asia and the Pacific, Latin America and the Caribbean, and the Middle East.
The Facility's team