Microinsurance - Executive Summary (English)
Microinsurance - Executive Summary (English)
Microinsurance - Executive Summary (English)
Research Context
Provision of financial services of credit and savings through microfinance to the poor is not a novel concept, but insurance to the poor is relatively new. There are only a handful of providers carrying out microinsurance in Sri Lanka. Even among the few, most are affiliated to the microfinance institutes. The specialized microinsurance service providers are fewer in number. The existing literature on microinsurance in Sri Lanka is limited to examining the supply side of microinsurance or only limited to case studies. Initiating from that point, the study takes a balanced approach to fill this gap by looking at both the supply and demand sides.
about half of the risks would arise from economic shocks. This is expected to be followed by weather and environment related shocks, and family related shocks. Most preferred to have insurance cover on crop failure and on natural disasters.
has created an unfavourable environment for the insurance market, affecting the microinsurance sector as well. The government can play a leading role in promoting microinsurance among the poor, creating awareness and popularizing it, supporting an enabling environment through regulation and promoting capacity building in the sector.