Vendors
日本語
search
  2. //
  3. Reports & insights
  4. //
  5. Microinsurance at a High Cost: An Invitation for Innovation

Microinsurance at a High Cost: An Invitation for Innovation

Create a vendor selection project
Click to express your interest in this report
Indication of coverage against your requirements
A subscription is required to activate this feature. Contact us for more info.
Celent have reviewed this profile and believe it to be accurate.
We are waiting for the vendor to publish their solution profile. Contact us or request the RFX.
Projects allow you to export Registered Vendor details and survey responses for analysis outside of Marsh CND. Please refer to the Marsh CND User Guide for detailed instructions.
Download Registered Vendor Survey responses as PDF
Contact vendor directly with specific questions (ie. pricing, capacity, etc)
13 June 2016
Luis Chipana

Insurers use a mix of distribution channels according to the type of product, service, and customer segment preferences. These go from websites, apps, and branches to agents, banks, and retailers. How effective are these when it comes to selling microinsurance?

Abstract

When applied to distribution of microinsurance, these channels take on an extremely important role because this type of insurance normally requires small individual tickets and large volumes to make it profitable. Insurers that execute well can provide high scalability while delivering efficiency.

This report shares insights into the use of distribution channels for microinsurance as well as the challenges that insurers face when creating new channels. It also provides a view of new technologies being applied in some countries to reach the underserved.

“Insurers know that new technologies will reduce the cost and disrupt the way microinsurance is being sold. Social media and e-wallets are examples of these,” says Luis Chipana, an analyst with Celent’s Insurance practice and author of the report. “On the other side, insurers are still investing in the same traditional channels that have proven to be effective in the past, but at a high cost.”

Client Access