What people are saying about microinusrance

“Vulnerability and poverty go hand in hand, but microinsurance holds out the promise of breaking a part of the cycle that ties them together.”
Jonathan Morduch, Economist, New York University

“Uninsured risk is a cause of persistent poverty.”
Stefan Dercon, Chief Economist, UK’s Department for International Development

"For an insurer, you ignore microinsurance at your own peril... But if you jump in, you also do it at your own peril unless you are very careful. It's a great opportunity, but you have to do it in a measured way."

Rick Koven, Manager, Microinsurance Learning and Knowledge project

"Microinsurance is not an act of charity but a business model that can pay insurers real dividends while helping the impoverished climb back from natural catastrophes."

Walter Bell, Chairman, Swiss Re America

"Microinsurance is nothing else but immediate relief. Our primary concern is to provide for the policyholder's immediate needs after a devastating loss. Claims should be paid immediately; that is, 24 hours for funerals, every three days for hospitalization and within 10 days for life, calamity and weather index."

William Martirez, Country Manager, MicroEnsure Philippines

"We’re used to thinking of insurance as a safety net, but it’s also a springboard. If you know you are covered, you’ll be more likely to invest in the future.  A daughter can go to school rather than work, the farmer can plant crops that can triple his income. Your whole capacity to take risks changes which helps to scale up companies worldwide that provide insurance to the underserved."

Andrew Kuper, President and Founder, LeapFrog Investments

"Products such as microinsurance, which seem at first glance to offer modest financial returns, may in the long run prove to be important contributors within the carrier's broad portfolio."

Madhu Vazirani, Senior Manager, Accenture Research

"Life insurance is likely to be a small part of the market. People want the products they use most. I die once but go to the doctor many times each year."

Richard Leftley, CEO, MicroEnsure

"When it comes to drought, most farmers have no choice but to simply pray for rain. And if the rains don't come, the crops don't grow. At a time of global change, farmers need more options so they can meet these challenges and prosper."

Marco Ferroni, Executive Director, Syngenta Foundation for Sustainable Agriculture

"Microinsurance institutions need to begin to attach services that address outpatient issues and provide preventive services, if they want to get involved in the hospitalization insurance schemes."

John Cyrus Pott, independent consultant and author of Facility's paper on "Value-added service in microinsurance"

"Knowledge sharing is extremely important, because there is a tremendous growing knowledge across different insurers about expected mobility cost."

Samrat Nandy, Vice-President, Swiss Re, India

“We greatly  appreciate the valuable work of the ILO, which is leading efforts to encourage microinsurance innovation and disseminate the results. Its support to develop inclusive insurance markets is a natural complement to the IAIS' engagement with supervisors to create a conducive regulatory environment.”
Yoshi Kawai, Secretary General,
International Association of Insurance Supervisors