Microinsurance : A Case Study of the Indian Rainfall Index Insurance Market
Rainfall index insurance provides a payout based on measured local rainfall during key phases of the agricultural season, and in principle can help rural households diversify a key source of idiosyncratic risk. This paper describes basic features o...
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| Format: | Policy Research Working Paper |
| Language: | English |
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2012
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| Online Access: | http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20111116161636 http://hdl.handle.net/10986/4002 |
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okr-10986-4002 |
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| recordtype |
oai_dc |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English |
| topic |
ACCESS TO INFORMATION ACCOUNTING ADMINISTRATIVE COSTS ADMINISTRATIVE DATA AGRICULTURAL ECONOMICS AGRICULTURAL INSURANCE AGRICULTURAL INSURANCE SCHEME ALLOCATION BANK ACCOUNT BANK POLICY BANKS BASIS RISK BEHAVIORAL ECONOMICS BONDS BORROWING BROKERS BUSINESS SCHOOL CALCULATIONS CAPITAL MARKET CASH PAYMENT CLIMATE CLIMATE CHANGE CONSUMER CONSUMER CREDIT CONSUMER LOAN CONSUMER PROTECTION CONSUMPTION PATTERNS CONSUMPTION SMOOTHING CONTRACT DESIGN CONTRIBUTION COUPONS CREDIT CONSTRAINTS CREDIT PRODUCTS CROP INSURANCE CROP INSURANCE SCHEME DAMAGES DEBT DEBT CAPACITY DEVELOPING COUNTRIES DEVELOPMENT ECONOMICS DISABILITY DISBURSEMENTS DIVERSIFICATION DROUGHT DROUGHT INSURANCE DROUGHTS ECONOMIC DEVELOPMENT EMERGING MARKETS EXPENDITURE EXTREME TAIL EXTREME WEATHER EXTREME WEATHER EVENTS FAMILY MEMBER FAMILY MEMBERS FAMILY PLANNING FEDERAL RESERVE FEDERAL RESERVE BANK FINANCIAL ASSISTANCE FINANCIAL CONSTRAINTS FINANCIAL INNOVATION FINANCIAL INSTITUTION FINANCIAL INSTITUTIONS FINANCIAL LITERACY FINANCIAL MARKET FINANCIAL MARKETS FINANCIAL PRODUCTS FINANCIAL SERVICES FINANCIAL SYSTEMS FLOOD INSURANCE GENERAL INSURANCE GOVERNMENT ASSISTANCE GOVERNMENT CROP INSURANCE GOVERNMENT INSURANCE GOVERNMENT SUBSIDIES HOUSEHOLD CONSUMPTION HOUSEHOLD INCOME HOUSEHOLD INCOMES HURRICANES INCOME INCOME SHOCKS INCOME SMOOTHING INCOME VARIABILITY INDEMNITY INFORMAL INSURANCE INSURANCE INSURANCE AGENTS INSURANCE ARRANGEMENTS INSURANCE COMPANIES INSURANCE COMPANY INSURANCE CONTRACT INSURANCE CONTRACTS INSURANCE COVERAGE INSURANCE CULTURE INSURANCE MARKET INSURANCE MARKETS INSURANCE PAYOUT INSURANCE POLICIES INSURANCE POLICY INSURANCE PREMIUMS INSURANCE PRODUCT INSURANCE PRODUCTS INSURANCE REGULATIONS INSURANCE SCHEME INSURANCE SCHEMES INSURANCE UNDERWRITERS INSURERS INTEREST RATE INTEREST RATES INTEREST WAIVERS INTERNATIONAL BANK INTERNATIONAL DEVELOPMENT INTERNATIONAL MARKETS INVESTMENT CHOICE LABOR MARKETS LABOR SUPPLY LANDOWNERS LIQUID ASSETS LIQUIDATION LIQUIDITY LIQUIDITY CONSTRAINTS LIVESTOCK INSURANCE LIVING STANDARDS LOAN LOAN DEMAND LOCAL AREA BANK LOCAL FINANCIAL INSTITUTIONS LOST INCOME LOW-INCOME LOW-INCOME INDIVIDUALS LOWER PRICES MACROECONOMIC VOLATILITY MARGINAL UTILITY MARGINAL UTILITY OF CONSUMPTION MARKET COMPETITION MARKET DEMAND MARKET PENETRATION MARKET SHARE MARKET SIZE MARKET STRUCTURE MARKETING MATURE MARKET MICRO INSURANCE MICROCREDIT MICROFINANCE MICROFINANCE INSTITUTION MICROFINANCE INSTITUTIONS MICROINSURANCE MONEYLENDERS MORAL HAZARD NATIONAL INSURANCE NATURAL DISASTERS OTHER ASSETS POLICYHOLDERS PORTFOLIO PRICE OF COAL PROBABILITY PRODUCTIVITY PROGRAMS PURCHASES RATE OF RETURN RATES OF RETURN REINSURANCE REMITTANCE REMITTANCES RESOURCE ALLOCATION RETURNS RISK AVERSION RISK INSURANCE RISK MANAGEMENT RISK MITIGATION RISK OF DEFAULT RISK REDUCTION RISK SHARING RISK TAKING RISKS OF CLIMATE CHANGE SALE SALES SAVINGS SETTLEMENT SOCIOECONOMIC STATUS STOCK MARKET SUSTAINABILITY TRANSACTION TRANSACTION COSTS TRANSITORY INCOME UNDERINSURED UNDERWRITERS VALUABLE VALUATION WEATHER INSURANCE WELFARE PROGRAMS WORST-CASE WORTH |
| spellingShingle |
ACCESS TO INFORMATION ACCOUNTING ADMINISTRATIVE COSTS ADMINISTRATIVE DATA AGRICULTURAL ECONOMICS AGRICULTURAL INSURANCE AGRICULTURAL INSURANCE SCHEME ALLOCATION BANK ACCOUNT BANK POLICY BANKS BASIS RISK BEHAVIORAL ECONOMICS BONDS BORROWING BROKERS BUSINESS SCHOOL CALCULATIONS CAPITAL MARKET CASH PAYMENT CLIMATE CLIMATE CHANGE CONSUMER CONSUMER CREDIT CONSUMER LOAN CONSUMER PROTECTION CONSUMPTION PATTERNS CONSUMPTION SMOOTHING CONTRACT DESIGN CONTRIBUTION COUPONS CREDIT CONSTRAINTS CREDIT PRODUCTS CROP INSURANCE CROP INSURANCE SCHEME DAMAGES DEBT DEBT CAPACITY DEVELOPING COUNTRIES DEVELOPMENT ECONOMICS DISABILITY DISBURSEMENTS DIVERSIFICATION DROUGHT DROUGHT INSURANCE DROUGHTS ECONOMIC DEVELOPMENT EMERGING MARKETS EXPENDITURE EXTREME TAIL EXTREME WEATHER EXTREME WEATHER EVENTS FAMILY MEMBER FAMILY MEMBERS FAMILY PLANNING FEDERAL RESERVE FEDERAL RESERVE BANK FINANCIAL ASSISTANCE FINANCIAL CONSTRAINTS FINANCIAL INNOVATION FINANCIAL INSTITUTION FINANCIAL INSTITUTIONS FINANCIAL LITERACY FINANCIAL MARKET FINANCIAL MARKETS FINANCIAL PRODUCTS FINANCIAL SERVICES FINANCIAL SYSTEMS FLOOD INSURANCE GENERAL INSURANCE GOVERNMENT ASSISTANCE GOVERNMENT CROP INSURANCE GOVERNMENT INSURANCE GOVERNMENT SUBSIDIES HOUSEHOLD CONSUMPTION HOUSEHOLD INCOME HOUSEHOLD INCOMES HURRICANES INCOME INCOME SHOCKS INCOME SMOOTHING INCOME VARIABILITY INDEMNITY INFORMAL INSURANCE INSURANCE INSURANCE AGENTS INSURANCE ARRANGEMENTS INSURANCE COMPANIES INSURANCE COMPANY INSURANCE CONTRACT INSURANCE CONTRACTS INSURANCE COVERAGE INSURANCE CULTURE INSURANCE MARKET INSURANCE MARKETS INSURANCE PAYOUT INSURANCE POLICIES INSURANCE POLICY INSURANCE PREMIUMS INSURANCE PRODUCT INSURANCE PRODUCTS INSURANCE REGULATIONS INSURANCE SCHEME INSURANCE SCHEMES INSURANCE UNDERWRITERS INSURERS INTEREST RATE INTEREST RATES INTEREST WAIVERS INTERNATIONAL BANK INTERNATIONAL DEVELOPMENT INTERNATIONAL MARKETS INVESTMENT CHOICE LABOR MARKETS LABOR SUPPLY LANDOWNERS LIQUID ASSETS LIQUIDATION LIQUIDITY LIQUIDITY CONSTRAINTS LIVESTOCK INSURANCE LIVING STANDARDS LOAN LOAN DEMAND LOCAL AREA BANK LOCAL FINANCIAL INSTITUTIONS LOST INCOME LOW-INCOME LOW-INCOME INDIVIDUALS LOWER PRICES MACROECONOMIC VOLATILITY MARGINAL UTILITY MARGINAL UTILITY OF CONSUMPTION MARKET COMPETITION MARKET DEMAND MARKET PENETRATION MARKET SHARE MARKET SIZE MARKET STRUCTURE MARKETING MATURE MARKET MICRO INSURANCE MICROCREDIT MICROFINANCE MICROFINANCE INSTITUTION MICROFINANCE INSTITUTIONS MICROINSURANCE MONEYLENDERS MORAL HAZARD NATIONAL INSURANCE NATURAL DISASTERS OTHER ASSETS POLICYHOLDERS PORTFOLIO PRICE OF COAL PROBABILITY PRODUCTIVITY PROGRAMS PURCHASES RATE OF RETURN RATES OF RETURN REINSURANCE REMITTANCE REMITTANCES RESOURCE ALLOCATION RETURNS RISK AVERSION RISK INSURANCE RISK MANAGEMENT RISK MITIGATION RISK OF DEFAULT RISK REDUCTION RISK SHARING RISK TAKING RISKS OF CLIMATE CHANGE SALE SALES SAVINGS SETTLEMENT SOCIOECONOMIC STATUS STOCK MARKET SUSTAINABILITY TRANSACTION TRANSACTION COSTS TRANSITORY INCOME UNDERINSURED UNDERWRITERS VALUABLE VALUATION WEATHER INSURANCE WELFARE PROGRAMS WORST-CASE WORTH Giné, Xavier Menand, Lev Townsend, Robert Vickery, James Microinsurance : A Case Study of the Indian Rainfall Index Insurance Market |
| geographic_facet |
South Asia South Asia South Asia Asia India |
| relation |
Policy Research working paper ; no. WPS 5459 |
| description |
Rainfall index insurance provides a
payout based on measured local rainfall during key phases of
the agricultural season, and in principle can help rural
households diversify a key source of idiosyncratic risk.
This paper describes basic features of rainfall insurance
contracts offered in India since 2003, and documents
stylized facts about market demand and the distribution of
payouts. The authors summarize the results of previous
research on this market, which provides evidence that price,
liquidity constraints, and trust all present significant
barriers to increased take-up. They also discuss potential
future prospects for rainfall insurance and other index
insurance products. |
| format |
Publications & Research :: Policy Research Working Paper |
| author |
Giné, Xavier Menand, Lev Townsend, Robert Vickery, James |
| author_facet |
Giné, Xavier Menand, Lev Townsend, Robert Vickery, James |
| author_sort |
Giné, Xavier |
| title |
Microinsurance : A Case Study of the Indian Rainfall Index Insurance
Market |
| title_short |
Microinsurance : A Case Study of the Indian Rainfall Index Insurance
Market |
| title_full |
Microinsurance : A Case Study of the Indian Rainfall Index Insurance
Market |
| title_fullStr |
Microinsurance : A Case Study of the Indian Rainfall Index Insurance
Market |
| title_full_unstemmed |
Microinsurance : A Case Study of the Indian Rainfall Index Insurance
Market |
| title_sort |
microinsurance : a case study of the indian rainfall index insurance
market |
| publishDate |
2012 |
| url |
http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20111116161636 http://hdl.handle.net/10986/4002 |
| _version_ |
1764389430633693184 |
| spelling |
okr-10986-40022021-04-23T14:02:14Z Microinsurance : A Case Study of the Indian Rainfall Index Insurance Market Giné, Xavier Menand, Lev Townsend, Robert Vickery, James ACCESS TO INFORMATION ACCOUNTING ADMINISTRATIVE COSTS ADMINISTRATIVE DATA AGRICULTURAL ECONOMICS AGRICULTURAL INSURANCE AGRICULTURAL INSURANCE SCHEME ALLOCATION BANK ACCOUNT BANK POLICY BANKS BASIS RISK BEHAVIORAL ECONOMICS BONDS BORROWING BROKERS BUSINESS SCHOOL CALCULATIONS CAPITAL MARKET CASH PAYMENT CLIMATE CLIMATE CHANGE CONSUMER CONSUMER CREDIT CONSUMER LOAN CONSUMER PROTECTION CONSUMPTION PATTERNS CONSUMPTION SMOOTHING CONTRACT DESIGN CONTRIBUTION COUPONS CREDIT CONSTRAINTS CREDIT PRODUCTS CROP INSURANCE CROP INSURANCE SCHEME DAMAGES DEBT DEBT CAPACITY DEVELOPING COUNTRIES DEVELOPMENT ECONOMICS DISABILITY DISBURSEMENTS DIVERSIFICATION DROUGHT DROUGHT INSURANCE DROUGHTS ECONOMIC DEVELOPMENT EMERGING MARKETS EXPENDITURE EXTREME TAIL EXTREME WEATHER EXTREME WEATHER EVENTS FAMILY MEMBER FAMILY MEMBERS FAMILY PLANNING FEDERAL RESERVE FEDERAL RESERVE BANK FINANCIAL ASSISTANCE FINANCIAL CONSTRAINTS FINANCIAL INNOVATION FINANCIAL INSTITUTION FINANCIAL INSTITUTIONS FINANCIAL LITERACY FINANCIAL MARKET FINANCIAL MARKETS FINANCIAL PRODUCTS FINANCIAL SERVICES FINANCIAL SYSTEMS FLOOD INSURANCE GENERAL INSURANCE GOVERNMENT ASSISTANCE GOVERNMENT CROP INSURANCE GOVERNMENT INSURANCE GOVERNMENT SUBSIDIES HOUSEHOLD CONSUMPTION HOUSEHOLD INCOME HOUSEHOLD INCOMES HURRICANES INCOME INCOME SHOCKS INCOME SMOOTHING INCOME VARIABILITY INDEMNITY INFORMAL INSURANCE INSURANCE INSURANCE AGENTS INSURANCE ARRANGEMENTS INSURANCE COMPANIES INSURANCE COMPANY INSURANCE CONTRACT INSURANCE CONTRACTS INSURANCE COVERAGE INSURANCE CULTURE INSURANCE MARKET INSURANCE MARKETS INSURANCE PAYOUT INSURANCE POLICIES INSURANCE POLICY INSURANCE PREMIUMS INSURANCE PRODUCT INSURANCE PRODUCTS INSURANCE REGULATIONS INSURANCE SCHEME INSURANCE SCHEMES INSURANCE UNDERWRITERS INSURERS INTEREST RATE INTEREST RATES INTEREST WAIVERS INTERNATIONAL BANK INTERNATIONAL DEVELOPMENT INTERNATIONAL MARKETS INVESTMENT CHOICE LABOR MARKETS LABOR SUPPLY LANDOWNERS LIQUID ASSETS LIQUIDATION LIQUIDITY LIQUIDITY CONSTRAINTS LIVESTOCK INSURANCE LIVING STANDARDS LOAN LOAN DEMAND LOCAL AREA BANK LOCAL FINANCIAL INSTITUTIONS LOST INCOME LOW-INCOME LOW-INCOME INDIVIDUALS LOWER PRICES MACROECONOMIC VOLATILITY MARGINAL UTILITY MARGINAL UTILITY OF CONSUMPTION MARKET COMPETITION MARKET DEMAND MARKET PENETRATION MARKET SHARE MARKET SIZE MARKET STRUCTURE MARKETING MATURE MARKET MICRO INSURANCE MICROCREDIT MICROFINANCE MICROFINANCE INSTITUTION MICROFINANCE INSTITUTIONS MICROINSURANCE MONEYLENDERS MORAL HAZARD NATIONAL INSURANCE NATURAL DISASTERS OTHER ASSETS POLICYHOLDERS PORTFOLIO PRICE OF COAL PROBABILITY PRODUCTIVITY PROGRAMS PURCHASES RATE OF RETURN RATES OF RETURN REINSURANCE REMITTANCE REMITTANCES RESOURCE ALLOCATION RETURNS RISK AVERSION RISK INSURANCE RISK MANAGEMENT RISK MITIGATION RISK OF DEFAULT RISK REDUCTION RISK SHARING RISK TAKING RISKS OF CLIMATE CHANGE SALE SALES SAVINGS SETTLEMENT SOCIOECONOMIC STATUS STOCK MARKET SUSTAINABILITY TRANSACTION TRANSACTION COSTS TRANSITORY INCOME UNDERINSURED UNDERWRITERS VALUABLE VALUATION WEATHER INSURANCE WELFARE PROGRAMS WORST-CASE WORTH Rainfall index insurance provides a payout based on measured local rainfall during key phases of the agricultural season, and in principle can help rural households diversify a key source of idiosyncratic risk. This paper describes basic features of rainfall insurance contracts offered in India since 2003, and documents stylized facts about market demand and the distribution of payouts. The authors summarize the results of previous research on this market, which provides evidence that price, liquidity constraints, and trust all present significant barriers to increased take-up. They also discuss potential future prospects for rainfall insurance and other index insurance products. 2012-03-19T18:43:40Z 2012-03-19T18:43:40Z 2010-10-01 http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20111116161636 http://hdl.handle.net/10986/4002 English Policy Research working paper ; no. WPS 5459 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank Publications & Research :: Policy Research Working Paper South Asia South Asia South Asia Asia India |