The Role of Microinsurance in Social Protection: A Country Study of Vietnam
This paper aims to gather information and evidence on the practices related to microinsurance in Vietnam. It discusses the different roles that microinsurance can play in the context of Vietnam's social protection system and offers recommendations for integrating microinsurance into Vietnam’s social protection solutions. The paper draws information from relevant legal documents of the Government of Vietnam, reports by international and local institutions, Vietnam Women’s Union (VWU), all officially registered MFIs, private insurance providers, multi- and bilateral agencies, and other international organizations. As a part of the study, experts also conducted a field visit to Vietnam in 2013. The paper focuses on insurable risks such as illness, accident, disability, death, old age, and agricultural losses caused by catastrophic events. It aims to answer the following questions:
- How is microinsurance integrated into the social protection strategy of the Government of Vietnam?
- Which products are offered and to whom?
- Who are the relevant actors and what is their approach to cooperation?
- Which outcomes and synergies are generated by integration?