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What people want : investigating inclusive insurance demand in Ethiopia (English)

One important barrier to insurance markets that are more inclusive is the necessity to better understand the needs of low-income and other un- and underserved populations. These people are not currently clients of insurers and are difficult for insurers to reach through normal operations. As a result, many well-motivated efforts to provide client solutions can fail because of a misunderstanding or lack of understanding of the client’s situation. This publication explores the situation in Ethiopia where the population has unserved needs that can be met with affordable products they actually want. The results show a clear gap between the effects of various financial shocks and households’ ability to cope with them and a clear gap of unmet but insurable risks. The results also show that experience with and knowledge of insurance is very low, but this can be leveraged as an opportunity. This study, along with applying generally accepted wisdom, could help innovations in microinsurance more likely to succeed.


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    Biese,Katie, Mccord,Michael J., Baez,Katherine, Kelly,Eamon John, Thorburn,Craig W.

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    Working Paper

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    What people want : investigating inclusive insurance demand in Ethiopia

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    insurance demand; allocation of cost; Consumer Protection and Financial; access to financial service; focus group; national poverty line; rural area; monthly contribution; life insurance product; long-term finance; crop insurance product; food poverty line; family and friends; urban household; world food programme; investments in agriculture; cash on hand; rural household groups; household survey instrument; loss of livestock; personal digital assistant; formal financial service; social assistance support; distribution of rainfall; working age adults; product development process; lack of knowledge; government health insurance; coping mechanism; target market; Coping Mechanisms; crop loss; financial behavior; exchange rate; informal insurance; Exchange Rates; primary source; primary reason; dependency ratio; property loss; headed household; financial hardship; sampling framework; financial shock; productive asset; survey respondent; perceived risk; random sampling; crop cycle; female respondent; insurance mechanism; lost income; crop shock; disease outbreak; transport accident; communication strategy; market segment; financial value; local research; coping strategy; regular saving; significant loss; business property; sample survey; urban dweller; financial impact; low-income population; improve risk; low-income group; knowledge gap; management strategy; purchase insurance; market level; legal structure; education component; geographic scope; low-income people; medical expense; stated objective; qualitative information; average cost; mandatory reporting; average risk; consumer research; lower-income people; urban population; mortality study; insurance transaction; insurance policy; community assistance; purposive sampling; existing resources; expensive treatment; economic stability; Marketing Material; marginal value; household income; premium payment; funeral benefit; employed persons; mobile penetration; economic stress; household decision; human error; insurance buyer; financial matter; risk impact; household spending; coverage strategy; insurable risk; saving behavior; sample household; severely limits; education need; future productivity; insurance protection; household level; survey results; urban market; complementary activities; livestock insurance; Financial Sector; household questionnaire; savings account; disposable income; adult male; quantitative data; traditional community; adverse events; primary value; formal employment; rural group; insurance culture; community expectation; financial benefit; multiple sources; educational marketing; common strategies; gender difference; global financial; survey household; female group; nutritional need; household use; severe drought; enumeration area; household saving; account ownership; high poverty; cluster approach; rating service; income volatility; wage labor; survey data; general insurance; legal entity; legal entities; insurance service; insurance sector; regulatory barrier; ethiopian birr; applicable law; research tool; index base; distribution problem; affected households; subsidiary right; quantitative survey; research study; survey area; rural family; payment frequency; conventional insurance; effective strategy; negative attitudes; household interview; graphic designer; insurance market



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Biese,Katie Mccord,Michael J. Baez,Katherine Kelly,Eamon John Thorburn,Craig W.

What people want : investigating inclusive insurance demand in Ethiopia (English). FCI Insight Washington, D.C. : World Bank Group.