What People Want : Investigating Inclusive Insurance Demand in Ethiopia
One important barrier to insurance markets that are more inclusive is the necessity to better understand the needs of low-income and other un- and underserved populations. These people are not currently clients of insurers and are difficult for ins...
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| Format: | Working Paper |
| Language: | English |
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World Bank, Washington, DC
2018
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| Online Access: | http://documents.worldbank.org/curated/en/495701521789026178/What-people-want-investigating-inclusive-insurance-demand-in-Ethiopia http://hdl.handle.net/10986/29521 |
| Summary: | One important barrier to insurance
markets that are more inclusive is the necessity to better
understand the needs of low-income and other un- and
underserved populations. These people are not currently
clients of insurers and are difficult for insurers to reach
through normal operations. As a result, many well-motivated
efforts to provide client solutions can fail because of a
misunderstanding or lack of understanding of the client’s
situation. This publication explores the situation in
Ethiopia where the population has unserved needs that can be
met with affordable products they actually want. The results
show a clear gap between the effects of various financial
shocks and households’ ability to cope with them and a clear
gap of unmet but insurable risks. The results also show that
experience with and knowledge of insurance is very low, but
this can be leveraged as an opportunity. This study, along
with applying generally accepted wisdom, could help
innovations in microinsurance more likely to succeed. |
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