The Asian Development Bank (ADB) is an active partner of the Government of the Philippines in developing microfinance---the provision of insurance products that meet the needs of the disadvantaged for risk protection and relief against misfortune. As a result, microfinance activities have increased, and diversified formal financial services were made available to impoverished clients at affordable costs. However, there is still the risk of making poverty-stricken clients worse off because of unexpected events, prompting ADB to create interventions that focus on microinsurance development. This report assesses the expansion of microinsurance activities based on the Philippines' experience, with guidance on next steps forward.

"Publication Stock No. RPT178653-2"--Verso of title page.

Reducing poverty requires not just the generation of income among the poor, but also the protection of these incomes. Microinsurance offers innovative new ways to combat poverty in India through helping the rural poor systematically manage financial risks to their livelihoods and lives. The microinsurance industry is poised to take off, just as microcredit did a decade ago: 90 percent of the Indian population some 950 million people are not covered by insurance and represent an untapped market of nearly US$2 billion. This enormous missing market is ready for customized life and non-life insurance, but first, serious mismatches between the needs of the insured and the insurers must be overcome, pitting priorities against profits. This study strategically points to the numerous emerging opportunities for energising the rural insurance market, building on robust economic growth, increasing numbers of rural entrepreneurs and recent insurance regulations. Conclusions are based on new evidence from three states in India each with a population the size of some countries which also has policy relevance across the Asia-Pacific region and beyond. The study presents recommendations to realise the potential of this latent market.

Annotation This volume views community-based microinsurance as an incremental first step to improved financial protection and better access to health services for the poor. While community-based financing can be structured in various ways, this volume focuses on reinsurance as a mechanism for improving micro-level health insurance units. It outlines strategies and policies that can be applied by countries and donors to improve access to health care services.

Healthcare for all at affordable prices is still a major but universally elusive goal. Everyone spends money on healthcare, and it is the most impoverishing consumption item. Thus, most governments (and the United Nations) promote Universal Health Coverage — each country's unique blend of tools for healthcare financing, including taxes, subsidies and market controls.Most people in low- and middle-income countries (LMICs) have no health insurance of any kind. And most LMIC governments lack the political will, information, or resources to require their citizens to buy health insurance themselves or to subsidize insurance for all who cannot afford the price. This book deals with financing voluntary and contributory health insurance for resource-poor and rural groups in LMICs.This book addresses three issues. The first is how to catalyse demand for health insurance and develop insurance literacy among the largely illiterate and innumerate target population, using training programs to build an enabling consensus, allowing locals to create and administer such schemes. The second involves the process of developing simplified methods for risk assessment, which can help to underwrite risks, price the micro health insurance schemes, and ensure proper implementation. The third issue is formulating a compelling business case which would make this health insurance affordable, financially sustainable, and operationally scalable.This book develops insurance education and financial literacy for students of economics, business administration, insurance, development studies, and social work to prepare them for practical work as implementers, policymakers, or evaluators. A supplementary section for teachers and students includes comprehension questions.