Formalizing the informal insurance inherent in migration

2010
Page count
4
pages
Description

In our increasingly global economy, labour continues to be a major export commodity for many developing countries. Migration can help families mitigate their risks by increasing overall income levels and diversifying income sources. Yet, many migrants tend to find themselves in positions of vulnerability in their host countries without any access to social safety nets. Emergencies can, thus, quickly erode any savings or assets that the migrant has. Migrant-linked insurance products can help transnational families manage their risks and protect their assets. Briefing Note #6 explores the existing and potential links between migration, remittances and insurance. It provides a mapping of migration-linked microinsurance products, a framework for how to think about them, and an outline of the opportunities and challenges for micro insurers interested in developing products for this market segment.

Publisher
The ILO's Impact Insurance Facility
Publish date
Authors
B. Magnoni
E. Zimmerman
J. Powers
Language of publication
English
Region/Country
Region
Global
IB topics