Understanding the gap between consumer needs for micro-insurance and available micro insurance products in Rural India.

 

Currently, few risk mitigation mechanisms exists for the cattle-owners at the base of the pyramid in rural India, while the cattle industry offers substantial market potential for micro-insurance. Cattle micro-insurance refers to the protection of cattle against insurable risks of low income population and it can be used as a tool for financial inclusion. This study highlights the existing gap between the consumers' needs for cattle micro-insurance and the features of current cattle micro-insurance products provided by insurance companies in the rural areas of India. Inputs for product design of a cattle micro-insurance product for the BoP is an inherent goal of the study.

 

Success factors: financing

Sectors: sustainable food

Partners: MART

BoP region: India

Role of the BoP Innovation Center: support and facilitate the project, supervision of student

Contact person: Nicolas Chevrollier (chevrollier @bopinc. org)