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Microinsurance

Poor households are particularly vulnerable to risks of all sorts—rising food prices, climate change, health problems. Every year, 100 million people worldwide slip under the poverty line because of illness. In this context, securing household savings is a crucial element in the fight against poverty.

Microinsurance is a mechanism to protect people with low incomes who are excluded from classic financial systems from specific risks in exchange for paying insurance premiums that fit their needs and risk levels.

GRET has been active in microinsurance since 1997 and favors a sectoral approach, organizing its action on several levels: in dialogue with governments in the framework of their sectoral policies, in support of organized civil society (mutual insurance systems or community-based organizations), and in partnership with private actors (microfinance institutions, insurers). In 2011, GRET was active primarily in health microinsurance, notably providing support for the expansion of social health coverage to informal sector populations. In Cambodia, GRET was also active in the formal sector, developing health insurance products for textile workers prior to the establishment of the mandatory health insurance branch in Cambodia.