Pricing of microinsurance products

Garand, Denis J.; Tatin-Jaleran, Clemence; Swiderek, Donna; Yang, Mary Qu

doi:10.5848/ilo.978-9-221257-45-5_23

Cited by 5 publications

(4 citation statements)

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“…Price is a function of the actuarial credibility of the data available and the cost structure inherent in the business model. While the former can be dealt with over time through the actuarial control cycle (see Garand et al, 2012) the latter is an ongoing challenge -and raises the thorny topic of the role of subsidies. However the literature is replete with hopes that modern technology, and the universal adoption of cell 'phones in particular, offers substantial opportunities to cut costs and improve quality of delivery 45 .…”

Section: Discussionmentioning

confidence: 99%

Insurance and Inclusive Growth

Lester¹

2014

Policy Research Working Papers

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The Policy Research Working Paper Series disseminates the findings of work in progress to encourage the exchange of ideas about development issues. An objective of the series is to get the findings out quickly, even if the presentations are less than fully polished. The papers carry the names of the authors and should be cited accordingly. The findings, interpretations, and conclusions expressed in this paper are entirely those of the authors. They do not necessarily represent the views of the International Bank for Reconstruction and Development/World Bank and its affiliated organizations, or those of the Executive Directors of the World Bank or the governments they represent.

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Section: Discussionmentioning

confidence: 99%

Insurance and Inclusive Growth

Lester¹

2014

Policy Research Working Papers

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“…A similar approach is provided by reinsurance schemes in that transferring risk to a reinsurer reduces the risk exposure for microinsurers and hence the required equity capital and risk-loadings necessary to remain solvent with a certain probability (see, e.g., Garand et al, 2012). Under the specific assumptions of capital-market imperfections and information asymmetries, the use of risk-transfer via reinsurance can reduce the cost of bearing risk (see, e.g., Froot, 2007), i.e., the reinsurance premium for ceding a risk is lower than the equity capital charge needed to hold the risk.…”

Section: (I) Risk Financingmentioning

confidence: 97%

“…During the initial phase of microinsurance programs, opposite effects might also be observed due to the opportunity costs of using medical services such as the loss of income for the time needed to visit a doctor. In cases where insurance coverage is mandatory, coverage is often not communicated such that utilization is low (see Garand et al, 2012). These factors need to be carefully assessed.…”

Section: Interaction Of Premiums Demand and Behaviormentioning

confidence: 99%

Pricing in Microinsurance Markets

Biener¹

2013

World Development

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“…Pricing refers to the process of establishing the premium rate for an insurance product. Generally, the premium rate needs to be determined in a way that ensures the total value of all premiums received over the coverage period will be enough to cover future claims expenses (Garand, 2012).…”

Section: Pricing Micro Insurancementioning

confidence: 99%

Mitigation of The Risk of Failed Harvest Pond Farming Fisheries Using The Calculating of The Premium Through The Approach to The Principle of Expectation Value

Septiana,

Susanti,

Sukono

2023

ijqrm

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Pond cultivation is a promising business to be engaged in at this time, the demand for fish in the market is high, it opens opportunities for entrepreneurship in the field of fish cultivation. It is undeniable that several factors will cause crop failure in fish farming, both from weather factors and in the livestock process. If such an unexpected thing happened, the cultivators would be slightly affected. Therefore, there is a need for special insurance to protect farmers from financial losses due to possible risks, namely Fishery Microinsurance. This study aims to determine a reasonable amount of insurance premiums for small-scale shrimp pond aquaculture cultivators using the expectancy value principle calculation method. The data on the number of events uses the Poisson distribution, while the loss data uses the Exponential distribution in Pandeglang Regency. Next use the Maximum Likelihood Estimation method to calculate the parameter estimate. After that, the results of the parameter estimation are used to search for a collective risk model. Thus, the result of the premium calculation in this study was Rp 25.893.046

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Pricing of microinsurance products

Cited by 5 publications

References 0 publications

Insurance and Inclusive Growth

Insurance and Inclusive Growth

Pricing in Microinsurance Markets

Mitigation of The Risk of Failed Harvest Pond Farming Fisheries Using The Calculating of The Premium Through The Approach to The Principle of Expectation Value

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