Discovering the potential of microinsurance
Discovering the potential of microinsurance
Regardless of their socio-economic level, all members of society are exposed to risk threats and constantly feel in some degree the fear that our security and our goods are affected by an unexpected event.
When we have the protection of a safe, we largely dissipate the effects of such fears as to any event that is covered, in general we will have an amount of resources by means of which we will be able to recover without recourse to additional AIDS, which essentially provides the sensation of being autonomous, have power of recovery , and basically be independent.
Unfortunately a large proportion of the members of our society do not have access to the benefits of insurance and therefore are much more vulnerable to the risk. We refer to the less affluent segments, people who are totally dependent on foreign aid that provides State or non-profit organizations to achieve its recovery as a result of their situation of abandonment, when they suffer a loss usually. However, both the State's resources, and other non-governmental organizations are increasingly scarce, which greatly limits their ability to take effective relief to those living in the largest state of fragility, have been affected by the calamity. Poverty and vulnerability are mutually reinforcing and although operate long ago a set of means to deal with the risk, in the popular segments usually are often insufficient and informal character.
The concept of micro-insurance emerges as a means of protection, focused exclusively on segments of the low-income population, which provides coverage to specific risks in Exchange for frequent payment of a premium that is proportional to the risk covered. Then microinsurance, essentially only differ from traditional insurance by the profile of the insured who care: people with low incomes.
That so poor should be people so insurance that protect them are considered "Micro" the first thing we note is that the insured amounts that are handled are relatively small, but the term does not refer necessarily to the size of the risk.? The answer varies from country to country, most however is that they are aimed at those who suffer the effect of factors of exclusion such as income, education level, geographic location, access to public services and economic activity are engaged in it, who have generally prevented access to the world of financial services and the insurance. In addition to the risks that affect the family nucleus the microinsurance also they address the needs of popular employers.
According to a market study conducted by the polling data, at the end of 2008, 81% of Venezuelan households belonged to levels economic partner "D" and "E" is to say: to the low income segment where private insurance penetration is less than 15%. In other words, of a universe close to 4.9 million of homes belonging to the "D" and "E" segments, there is a potential market of 4.2 million of them who lack insurance coverage.
The private insurance industry faces the challenge to understand in depth the risks that affect and concern to the poor, and how its impact is perceived, to be able to design business strategies and business processes that are inclusive and accessible enough to insert people lacking in contrast to other segments, a predictable income stream as it is the case of workers in the informal economy.
Regardless of their socio-economic level, all members of society are exposed to risk threats and constantly feel in some degree the fear that our security and our goods are affected by an unexpected event.
When we have the protection of a safe, we largely dissipate the effects of such fears as to any event that is covered, in general we will have an amount of resources by means of which we will be able to recover without recourse to additional AIDS, which essentially provides the sensation of being autonomous, have power of recovery , and basically be independent.
Unfortunately a large proportion of the members of our society do not have access to the benefits of insurance and therefore are much more vulnerable to the risk. We refer to the less affluent segments, people who are totally dependent on foreign aid that provides State or non-profit organizations to achieve its recovery as a result of their situation of abandonment, when they suffer a loss usually. However, both the State's resources, and other non-governmental organizations are increasingly scarce, which greatly limits their ability to take effective relief to those living in the largest state of fragility, have been affected by the calamity. Poverty and vulnerability are mutually reinforcing and although operate long ago a set of means to deal with the risk, in the popular segments usually are often insufficient and informal character.
The concept of micro-insurance emerges as a means of protection, focused exclusively on segments of the low-income population, which provides coverage to specific risks in Exchange for frequent payment of a premium that is proportional to the risk covered. Then microinsurance, essentially only differ from traditional insurance by the profile of the insured who care: people with low incomes.
That so poor should be people so insurance that protect them are considered "Micro" the first thing we note is that the insured amounts that are handled are relatively small, but the term does not refer necessarily to the size of the risk.? The answer varies from country to country, most however is that they are aimed at those who suffer the effect of factors of exclusion such as income, education level, geographic location, access to public services and economic activity are engaged in it, who have generally prevented access to the world of financial services and the insurance. In addition to the risks that affect the family nucleus the microinsurance also they address the needs of popular employers.
According to a market study conducted by the polling data, at the end of 2008, 81% of Venezuelan households belonged to levels economic partner "D" and "E" is to say: to the low income segment where private insurance penetration is less than 15%. In other words, of a universe close to 4.9 million of homes belonging to the "D" and "E" segments, there is a potential market of 4.2 million of them who lack insurance coverage.
The private insurance industry faces the challenge to understand in depth the risks that affect and concern to the poor, and how its impact is perceived, to be able to design business strategies and business processes that are inclusive and accessible enough to insert people lacking in contrast to other segments, a predictable income stream as it is the case of workers in the informal economy.
Discovering the potential of microinsurance
Reviewed by GanarGanando
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12:14:00
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Reviewed by GanarGanando
on
12:14:00
Rating:
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