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Microinsurance for Indonesian Actuarial

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Microinsurance for Indonesian Actuarial


The purpose of this paper is to give actuaries and lecturers who teach actuarial science and risk management in Indonesia an introduction to microinsurance (MI). It reviews definitions, key issues and trends in the micoinsurance area as well as highlights some core differences between microinsurance and standard insurance offered by the private sector. It is intended to provide an overview of key issues for private sector companies considering whether they should offer microinsurance products as well for lecturers who would like to include content on this aspect of risk management in university level courses/programs. It also provides a brief summary of recent microinsurance offerings in Indonesia.

The paper covers:
1. Definitions of Microinsurance
2. The Business Case for Microinsurance
3. What Microinsurance Can and Cannot do
4. Success Factors
5. Key Performance Indicators
6. Types of Microinsurance Products
7. Gender Issues to Consider in Microinsurance
8. Implications for Indonesian actuaries, insurance industry and government.