Insuring for a changing climate: A review and reflection on CARE's experience with microinsurance

This report reviews CARE’s experience with microinsurance through seven case study examples across its global programmes in Bangladesh, Ghana, India, Kenya, Nepal, and Tanzania. The case studies presented cover climate risk insurance and other social microinsurance products that, whilst not categorised as “climate insurance,” provide relevant lessons.

It concludes by outlining 12 recommendations for when and how to employ insurance products within programming:

1. Insurance should sit within a comprehensive risk management plan
2. Understanding the local and national insurance market
3. Ensure there is enough time and capacity for a robust design phase
4. Include potential policyholders in the design of the scheme
5. Carefully consider cultural context in design
6. Purposefully address gender dynamics
7. Reflect on the commitment and sustainability of partners
8. Plan subsidies carefully
9. Plan and prepare for robust and continuous sensitisation
10. Ensure client's risk profile is at the centre of policy marketing and sales
11. Plan to monitor, evaluate, and measure impact
12. Where NGOs are not directly insurnace providers or providers of financial  services, they can play a facilitative role in the process