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Mobile Microinsurance and Financial Inclusion: The Case of Developing African Countries

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  • Bibi Z. Chummun

    (University of KwaZulu-Natal)

Abstract

The paper seeks to investigate the relationship between mobile microinsurance and financial inclusion in developing countries. Through a review of literature, the author advances the hypothesis that inclusive financing is more likely to be successful in countries where mobile microinsurance is being used than countries where the service is not available to the low-income people. The study’s drive is predicated on the argument that mobile platform including mobile money can be used as a measure to mitigate the inherent transaction costs of microinsurance and to assist in the building of volume of microinsurance and mobile microinsurance policies. Despite some identified challenges, the findings reveal that leveraging use of relatively low-cost mobile channels of microinsurance could promote the effective accessibility of microinsurance, providing the opportunities to reach the low-income households in remote places and contribute to financial inclusion. Finally, the author points to some possible ways for mobilizing mobile microinsurance to enable effective financial inclusion.

Suggested Citation

  • Bibi Z. Chummun, 2017. "Mobile Microinsurance and Financial Inclusion: The Case of Developing African Countries," Africagrowth Agenda, Africagrowth Institute, vol. 14(3), pages 12-16.
  • Handle: RePEc:afj:journ2:v:14:y:2017:i:3:p:12-16
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    File URL: https://journals.co.za/content/journal/10520/EJC-b1d5121a4
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    Cited by:

    1. Muteba Mwamba, John Weirstrass & Mhlophe, Bongani, 2019. "Modelling Asset Correlations of Revolving Loan Defaults in South Africa," MPRA Paper 97340, University Library of Munich, Germany.
    2. Charles Raoul Tchuinkam Djemo & John Weirstrass Muteba Mwamba & Mathias Mandla Manguzvane, 2021. "Exchange Rate Risk and International Equity Portfolio Diversification: A South African Investor’s Perspective," The African Finance Journal, Africagrowth Institute, vol. 23(2), pages 36-49.
    3. Mathithibane, Mpho Steve, 2021. "The impact of trust in the developing sector of microinsurance in South Africa," MPRA Paper 110406, University Library of Munich, Germany.
    4. Dube, Thulani & Chummun, Bibi Zaheenah, 2019. "Mobile Money access and usage among the rural communities in Zimbabwe," MPRA Paper 97578, University Library of Munich, Germany, revised 05 Dec 2019.

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