TY - JOUR
T1 - Microinsurance demand
T2 - Determinants and strategies
AU - Matul, Michal
AU - Dalal, Aparna
AU - De Bock, Ombeline
AU - Gelade, Wouter
PY - 2013/12/1
Y1 - 2013/12/1
N2 - Vulnerability to risk, a constant factor in the lives of the poor, is a cause of persistent poverty. Microinsurance offers one approach to mitigating risk, yet demand is disappointingly low. This paper aims to improve the understanding of factors that determine the demand for microinsurance products. Based on a review of more than 30 studies, it blends academic findings with practical examples and presents the most important determinants of demand, including understanding of insurance, client value, liquidity constraints, trust, behavioural factors, and use of other risk coping mechanisms. The paper also presents solutions that can be incorporated into an organization's marketing strategy.
AB - Vulnerability to risk, a constant factor in the lives of the poor, is a cause of persistent poverty. Microinsurance offers one approach to mitigating risk, yet demand is disappointingly low. This paper aims to improve the understanding of factors that determine the demand for microinsurance products. Based on a review of more than 30 studies, it blends academic findings with practical examples and presents the most important determinants of demand, including understanding of insurance, client value, liquidity constraints, trust, behavioural factors, and use of other risk coping mechanisms. The paper also presents solutions that can be incorporated into an organization's marketing strategy.
KW - Demand
KW - Marketing
KW - Microinsurance
KW - Sales
UR - http://www.scopus.com/inward/record.url?scp=84890846285&partnerID=8YFLogxK
U2 - 10.3362/1755-1986.2013.029
DO - 10.3362/1755-1986.2013.029
M3 - Article
AN - SCOPUS:84890846285
SN - 1755-1978
VL - 24
SP - 311
EP - 327
JO - Enterprise Development and Microfinance
JF - Enterprise Development and Microfinance
IS - 4
ER -