AWARD YEAR
2017
CATEGORY
Community
GOALS
Reduced Inequality
KEYWORDS
Insurance, rich/poor gap, Safety for all
COUNTRY
United States of America
DESIGNED BY
Mario Ariza, Peter Gross and others at Continuum and MicroEnsure - Consultative Group to Assist the Poor
WEBSITE
http://www.cgap.org/blog/increasing-immediate-value-microinsurance-poor
CGAP - Microinsurance
A collaboration to make insurance a reality, for even the poorest people on earth
This campaign uses storytelling to make the concept of buying insurance accessible to low-income communities in Africa. Following a Choose Your Own Adventure story line, users send a text message to get to the next chapter of a telenovela-like tale. Each text sent incurs a fee that is then put toward their health insurance plan, providing a simple installment method for paying off insurance bills.
Microinsurance, the provision of insurance services to low-income people, can help poor households protect themselves against the risks and shocks that life inevitably brings. Without access to risk mitigation tools, insurance or adequate social security services, poor people are extremely vulnerable and ill-equipped to meet unexpected and potentially devastating losses.