In developed countries, the penetration of insurance is high and markets often appear saturated. In contrast there is a large potential market of between 1.5 and 3 billion insurance policies in emerging countries, and only 5 percent of these people are so far covered. Previously the growth rate in developing countries was over 10 percent per year and predictions go as far as a seven-fold increase over ten years. Also, a correlation between a country’s development level and insurance coverage has been observed, so that great potential can be seen in implementing microinsurance in developing countries. Microcredits have proven that it is possible to enter emerging markets profitably. For insurance companies seeking growth strategies, diversification with microinsurance products in emerging markets may be adequate.
Especially poor people are exposed to risks due to poor hygiene, nutrition, safety precautions, and medical care. Also natural disasters, climate, and demographic change have even larger impacts. Limited resources can lead to large financial disruption in the case of unexpected events. Life insurance provides coverage in case of death. It is easy to provide and there is a high demand. Yet, there is little information about providers and their products. Currently many researches concentrate on theoretical models and not on what is done in practise. Where are their differences in supply and product design? Where are their strengths and weaknesses? Answering these questions shall help make life microinsurance more feasible, acceptable, and affordable for customers and providers.
This dissertation aims on revealing differences between life microinsurance providers and their products in two selected countries, on which basis improvements shall be suggested for providers and products in both countries regarding the extended marketing mix.
Due to differences in risks and the little research on microinsurance, differences in situation, objectives, strategy, tactics, actions, and controlling are presumed. Analysing these points in two countries is expected to show common practices and where one side can learn from the other.
Inhaltsverzeichnis (Table of Contents)
- Introduction
- Problem description
- Research objectives
- Definition of keywords
- Microinsurance
- Microinsurance products
- Microinsurance providers
- Market analysis
- Conception of the market analysis
- Main problem and research aims
- Data sources
- Data assessment method
- Data assessment tool
- Data and information analysis
- Sampling plan
- Determination of considered countries
- Microinsurance sector in India
- Microinsurance sector in Brazil
- Determination of considered product
- Determination of considered providers
- Determination of considered items
- Determination of considered countries
- Form of questioning
- Sampling plan
- Realisation of the market analysis
- Data assessment
- Data evaluation
- Data preparation
- Data evaluation
- Representation of the results
- Results for India
- Results for Brazil
- Suggested improvements
- Conceptual framework
- Situation
- Objectives
- Strategy and tactics based on the extended marketing mix
- Product
- Price
- Place
- Promotion
- Service
- Actions and Controlling
- Critique
Zielsetzung und Themenschwerpunkte (Objectives and Key Themes)
This dissertation aims to provide a comparative analysis of life microinsurance providers and their products in India and Brazil. The study explores the market dynamics, identifies key players, analyzes product offerings, and assesses the potential for improvements within the microinsurance sector in both countries. Key themes of the dissertation include:- Microinsurance market analysis in India and Brazil
- Comparative analysis of microinsurance providers and products
- Identification of challenges and opportunities within the microinsurance sector
- Development of potential improvements and recommendations for the microinsurance market
- Examination of the impact of microinsurance on financial inclusion and social development
Zusammenfassung der Kapitel (Chapter Summaries)
The introductory chapter establishes the problem description, research objectives, and provides a clear definition of the key terms used throughout the dissertation. It explores the concept of microinsurance and its significance within the broader financial landscape. Chapter 2 delves into the conceptual framework of the market analysis, outlining the research aims, data sources, assessment methods, and tools employed in the study. This chapter details the sampling plan, focusing on the selection of India and Brazil as case studies. The chapter concludes with a discussion on the form of questioning used to collect data for the research. Chapter 3 presents the results of the market analysis, highlighting the findings from both India and Brazil. The chapter analyzes data related to microinsurance providers, products, and market dynamics, offering insights into the current state of the microinsurance sector in both countries.Schlüsselwörter (Keywords)
This dissertation explores the key concepts of microinsurance, microinsurance providers, and microinsurance products within the context of two emerging economies, India and Brazil. The research focuses on the challenges and opportunities presented by the microinsurance sector in these countries, highlighting the importance of financial inclusion and social development through microinsurance. The study also investigates the potential for improvements within the microinsurance market, examining strategies and tactics based on the extended marketing mix.- Quote paper
- Amanda Williams (Author), 2012, Comparative analysis of life microinsurance providers and their products in two selected countries with improvements, Munich, GRIN Verlag, https://www.grin.com/document/206686
