Assessment of Microinsurance as Emerging Microfinance Service for the Poor

The Case of the Philippines

Business & Finance, Industries & Professions, Insurance, Personal Finance, Money Management
Cover of the book Assessment of Microinsurance as Emerging Microfinance Service for the Poor by Asian Development Bank, Asian Development Bank
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Author: Asian Development Bank ISBN: 9789292577469
Publisher: Asian Development Bank Publication: February 1, 2017
Imprint: Asian Development Bank Language: English
Author: Asian Development Bank
ISBN: 9789292577469
Publisher: Asian Development Bank
Publication: February 1, 2017
Imprint: Asian Development Bank
Language: English

The Asian Development Bank (ADB) is an active partner of the Government of the Philippines in developing microfinance---the provision of insurance products that meet the needs of the disadvantaged for risk protection and relief against misfortune. As a result, microfinance activities have increased, and diversified formal financial services were made available to impoverished clients at affordable costs. However, there is still the risk of making poverty-stricken clients worse off because of unexpected events, prompting ADB to create interventions that focus on microinsurance development. This report assesses the expansion of microinsurance activities based on the Philippines' experience, with guidance on next steps forward.

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The Asian Development Bank (ADB) is an active partner of the Government of the Philippines in developing microfinance---the provision of insurance products that meet the needs of the disadvantaged for risk protection and relief against misfortune. As a result, microfinance activities have increased, and diversified formal financial services were made available to impoverished clients at affordable costs. However, there is still the risk of making poverty-stricken clients worse off because of unexpected events, prompting ADB to create interventions that focus on microinsurance development. This report assesses the expansion of microinsurance activities based on the Philippines' experience, with guidance on next steps forward.

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