Emerging Insights # 52

Happy New Year!

Make a New Year’s resolution: keep up to date with the latest developments in the microinsurance sector!

A few highlights from the 2012 Emerging Insights series:

Sales commissions alone don’t ensure success: Insurers and their distribution partners need to consider how their programs contribute to the core business of distribution partners – beyond the direct financial benefit of commissions - in order to be successful in the long term.

Process improvements leading to better client value in livestock insurance: IFFCO-TOKIO implemented RFID technology and made changes to the claims process for its livestock insurance product that not only reduced claims costs, but also improved the client value of the product.

Discounted outpatient services, a way to keep clients: SSP found that use of outpatient services by clients was associated with increased renewals. Providing and incentivizing access to outpatient clinics (along with prevention mechanisms) makes economic sense and can provide better value to clients.

Production with protection: Results from an experiment in Ghana reveal that rainfall insurance leads to significantly larger agricultural investment and riskier production choices by farmers.

Applying microinsurance innovation to commercial insurance: The experience of Allianz Life Indonesia shows how innovations in microinsurance can also be applied to an insurer’s commercial business.

2013 promises to be an exciting year, with many more Emerging Insights. Stay tuned!

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