Keywords

microinsurance, modeling

Abstract

Microinsurance institutions and instruments have developed rapidly over the last decade, with policies covering tens of millions at the base of the economic pyramid. Ranging from simple policies providing life or health insurance to complex policies covering catastrophic risks for small landholders, it is a market with proven potential that demands closer attention. This paper provides a review of the nascent academic literature and then suggests some critical elements of insurance theory that may help us understand the challenges facing microinsurance markets and how these markets can better serve the needs of their customers. Although the basic theory is well known, application to microinsurance markets reveals interesting variations on known results.

Original Publication Citation

Insurance Theory and Challenges Facing the Development of Microinsurance Markets, with James C. Brau and Kim Staking, Journal of Developmental Entrepreneurship, Vol 6(4), pp 411-440 (2011).

Document Type

Peer-Reviewed Article

Publication Date

2011

Publisher

Journal of Developmental Entrepreneurship

Language

English

College

Marriott School of Business

Department

Finance

University Standing at Time of Publication

Full Professor

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