Micro life insurance is one of the most widespread financial services available in developing countries. Opportunities to save, however, are still rare. A new policy from Bajaj Allianz now provides both life insurance and savings.
Two million new insurance clients in less than a year and plans for up to ten million by the end of 2009—such numbers are only possible in a country like India. Yogesh Gupta, Head of Business Procurement & Microinsurance Business of Bajaj Allianz explains the story behind these numbers.
The majority of humanity, however, still lacks access to health insurance. A project run by Bajaj Allianz and CARE India is now trying to offer health insurance in a new way.
Microinsurance has been popular for years, but how valuable would it prove in a real crisis? When cyclone Nisha devastated India’s southeast coast in November 2008, the local Bajaj-Allianz microinsurance project was put to the test.
Bajaj-Allianz and CARE India have teamed up to provide microinsurance for the world’s second biggest population. RN Mohanty, COO of CARE India Microinsurance, talks about the challenges and the opportunities.
By mid-century, India will be the world’s most populated nation, but also home to more poor people than any other country. A crucial asset in the fight against poverty could be microinsurance that covers the poor against disease, accidents and natural disasters.
While the economic crisis has hurt mainstream insurance providers, microinsurance continues growing rapidly. Kamesh Goyal, CEO of Bajaj Allianz in India, explains why two million new customers in one year is only the start.
Heinz Dollberg of Allianz' Asia-Pacific Division talks about the challenges and opportunities of micro-insurance projects in India and beyond.
Microinsurance provides poor people with coverage for only a few dollars a year. Jean-Jacques Laffont from Allianz AGF in Paris explains why a commercial insurer is interested in low-profit business in Egypt.
Microinsurance has long been now disregarded in Africa. Allianz has teamed up with Planet Finance to provide microinsurance for poor people in a number of African countries. In Egypt, the project is already underway.
