Situating Microinsurance in Social Protection: Lessons from Six Countries

Enhancing social protection through microinsurance

This paper discusses the role of microinsurance, in a broader social protection framework, as a possible instrument to mitigate risk and reduce vulnerability of poor and low-income households. The research studies microinsurance as an integral part of social protection systems in six countries: Bangladesh, India, Vietnam, Brazil, Cambodia, and Rwanda. It synthesizes the key messages of the country studies for better integration of microinsurance into social protection while considering the social protection principles of universality, solidarity, and equity. It further focuses on insurable risks suitable for microinsurance, such as sickness, old age, death, accidents and disabilities, and extreme weather events. The paper covers the following sections in detail:

  • Concept of social protection and microinsurance with a focus on its relevance to the informal economy;
  • Description and analysis of different social protection systems and microinsurance practices in six countries;
  • Lessons learned from integrating microinsurance into social protection systems;
  • Recommendations for extending coverage to the informal economy and other vulnerable groups, improving benefits, and increasing access to public social protection and microinsurance with a focus on approaches that can be replicated in other countries if adapted to fit a specific environment.

About this Publication

By Ramm, G. , Ankolekar, M.