Extending mutual microinsurance to 5 million uninsured households in five countries over five years.


India diagnostic study findings

The country diagnostic is complete and the first-of-its-kind report on mutual and cooperative microinsurance in India ‘The missing chapter of microinsurance in India – a diagnostic of mutuals’ is now publically available. The report is jointly published by ICMIF and the Insurance Institute of India (III).

Despite insurance based social security schemes, a large section of the Indian population remains excluded with insurance penetration at 3.44% and the penetration in non-life static at 0.5-0.8 % over the last 10 years (IRDA annual report 2015-16). With about 600,000 cooperatives in the country and a membership of over 250 million, the potential for developing mutual and cooperative insurance in India is enormous.

This country diagnostic study highlights the potential role that mutual microinsurance can play in closing the protection gap in India and highlights the fact that mutuals strive to build long-term resilience for the poor through education, access and risk reduction strategies.

Download the complete report here

Download the key findings from the report here


Submitted by Dr Shariq Nisar on

Very happy to see this report launched by ICMIF and Insurance Institute of India. This is the first of its kind report that has brought to fore the innovative methods of risk mitigation practiced by some grass-root level organisations in India. It is hoped that Indian policymakers will take notice of these efforts and provide all kind of encouragement and support to people managing their owns risks without any burden on public exchequer.

Submitted by Ravinder on

Very good work. It highlights the risk mitigation practices followed at the grass root level in India. Moreover, the case studies are very well explained.

Comment on the report here

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