Beyond Slogans: Good Practices in Promoting Microinsurance Products

N.R. Lee, J.M. Solana | ILO, Microinsurance Innovation Facility

This paper provides examples of best practices for developing promotional campaigns that will aid microinsurance providers in stimulating and sustaining demand for their products. The paper offers a ten-step promotional planning model intended to address barriers that deter potential clients from purchasing insurance. These barriers include informal risk management mechanisms embedded in local cultures, lack of trust in providers, low financial and insurance literacy, concerns about the intangibility of benefits compared with the costs of premiums, and a tendency not to appreciate the value of future benefits.

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