by Stefanie Rubin - Key Players, Microinsurance -

MICROCAPITAL.ORG STORY: Review of Key Microinsurance Information Resources

Microinsurance, an emerging field in microfinance, aims to protect low-income people against risks such as illness, death and natural disasters in exchange for low premiums. As a fairly nascent field, microinsurance-related information is less prevalent than information on the more dominant fields of microfinance like microcredit or microsavings. The following list, however, represents some of the key providers of microinsurance resources today:

  • Microfinance Gateway: Launched in 2000, the Microfinance Gateway is provided by the microfinance arm of the World Bank, the Consultative Group to Assist the Poor (CGAP), in an effort to advance knowledge and encourage innovation within the microfinance industry. Over 7,000 documents are housed in the website, with a section dedicated solely to microinsurance, which features an overview, glossary and web resource guide, in addition to recently published papers relating to microinsurance [1, 2].
  • International Labor Organization (ILO): The ILO was founded in 1919 and became a United Nations agency in 1946 with the purpose of ensuring proper labor standards. It promotes the STEP program (Strategies and Tools against social Exclusion and Poverty), which works to develop social protection for the poor. Under the STEP program is an online information platform for microinsurance called Global Information on Micro-insurance (GIMI). GIMI includes a library of documents related to microinsurance; a microinsurance scheme database with information pertaining to schemes in Africa, Asia and Latin America; and a news page with constantly updated microinsurance-related press releases. The site is available in English, French and Spanish [3, 4, 5].
  • Microinsurance Network: The Microinsurance Network was originally established in 2002 as the CGAP Working Group on Microinsurance. The network is comprised of donor organizations, multilateral agencies, insurance professionals and other parties interested in microinsurance. It provides a tri-annual microinsurance newsletter and links to press releases and publications related to microinsurance [6].
  • Munich Re Foundation: The Munich Re Foundation was established by Munich Re, a global insurance company with an equivalent of USD 30.5 billion in gross premiums as of February 2009. Munich Re Foundation manages risk in the areas of climate change, disaster prevention, population development, urbanization, access to water and microinsurance. The site includes a section on microinsurance with links to publications and upcoming events [7, 8].
  • ProVention Consortium: Established by the World Bank, the ProVention Consortium is a partnership of international organizations, governments and private sector and academic institutions focused on disaster risk management in developing countries. The ProVention website features publications, press releases and events relating to microinsurance [9].

By: Stefanie Rubin, Research Assistant

Bibliography

[1] The Microfinance Gateway: http://www.microfinancegateway.org/p/site/m/home/

[2] CGAP: http://www.cgap.org/p/site/c/

[3] International Labour Organization: http://www.ilo.org/global/About_the_ILO/lang–en/index.htm

[4] Strategies and Tools against social Exclusion and Poverty: http://www.ilo.org/public/english/protection/secsoc/step/tools/index.htm

[5] Global Information on Micro-insurance: http://www.microinsurance.org/gimi/ShowMainPage.do

[6] Microinsurance Network: http://www.microinsurancenetwork.org/

[7] Munich Re Annual and Interim Reports: http://www.munichre.com/en/ir/publications/reports/default.aspx

[8] Munich Re Foundation: http://www.munichre-foundation.org/StiftungsWebsite/AboutUs/Overview/

[9] ProVention Consortium: http://www.proventionconsortium.org/

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