Microinsurance is a financial mechanism that fits the needs of developing countries and low-income individuals. Milliman is working with many different organizations—including government agencies, trade unions, NGOs, commercial insurers, and others—to help develop microinsurance around the world. Each project is unique in nature, though in general these low-premium mechanisms aim to protect against the risks that can lead people into debt traps: poor health, loss of crops or livestock, natural and human-made disasters, death and disability, and others.
As a leading global insurance consultancy, Milliman is poised to provide deep expertise and a broad array of insurance and financial perspectives to microinsurance efforts all over the world. Some of these efforts are detailed in the following case studies: