A Landscape Study of Microinsurance Education
This report explores microinsurance education materials and approaches that are currently available. It identifies best practices and existing gaps and highlights areas where investment in insurance education can make a positive impact on microinsurance outreach in developing countries.
The report is based on an online survey of organizations regarding insurance education, and in-depth interviews with organizations that are actively involved in insurance education. It profiles each organization and discusses its program development, insurance education content, tools used and monitoring and evaluation techniques. Findings include:
- Many organizations recognize the importance of customizing programs to target populations, or to specific products;
- Difference between education and marketing is a key issue;
- Organizations have been focusing on basic topics related to insurance;
- Many organizations lack expertise and access to training materials, and face institutional challenges;
- Target populations are often uninsured and uninformed about insurance;
- Insurance companies and MFIs have a symbiotic relationship;
- Collaboration and networking among organizations is limited;
- Funding plans of different organizations vary significantly;
- Few organizations conduct systematic monitoring and evaluation of programs.