A project on Micro Insurance for Calcutta University for my student . If any one want to download then contact with me in my mail. email id- c.das.cd@gmail.com

1. Micro Insurance
( AN APPROACH TO SERVE POOR )
NAME : PAYEL BHADRA
UNIVERSITY ROLL NO. : 1411-51-0047
YEAR OF SUBMISSION : FEBRUARY,2019

2. INTRODUCTION
Micro insurance -the protection of low-income people against
specific perils in exchange for regular monetary payments
(premiums) proportionate to the likelihood and cost of the risk
involved –seeks to provide a suitable solution for managing these
risks.

3. OBJECTIVES OF THE STUDY
 To study about the micro finance industry.
 To find the relative importance of microfinance industry for
poverty.
 To get insight knowledge about microfinance industry.
 To identify the working procedure of the world& domestic
microfinance industry practices .
 To identify importance micro finance industry.

4. LITERATURE REVIEW
“Examines the factor affecting insurance purchase decision his study at Anand district in
Gujarat in his study he found that amount of income and healthcare expenditure are major
determinant of health insurance plans.”
- Ramesh Bhat and Nishant Jain (2006)
“Analyses micro-insurance schemes in Bangladesh with contrasting examples from India and
found that these schemes improves the health status of poor and also it reduces poverty,
these micro insurance schemes had reduced the barriers of health services for poor.”
-Wendy J. Werner (August 2009)
“In Eleventh Annual APRIA Conference (2007) about Micro Banc assurance Models for India
suggest that the growth of micro insurance in India does not lies only in the hands of the
product design, distribution network but also in creating the proper infrastructure that can
support the servicing of insurance policies.”
- Dr. S. Ganesan and Dr. S. Jayaprakash

5. RESEARCH METHODOLOGY
 Primary data has been collected directly from sample respondents through
questionnaire and with the help of interview.
 I was collected the secondary data from standard textbooks, newspapers,
magazines and internet sources.
 Research instrument used for the primary data collection is questionnaire.
 Sample – probability sampling.
 The area of the study - Kolkata.
 The data was collected from the insurance-holders
 I am Used chi-square for indentified the relationship between two numerical
values:
X2= ∑
 The source of data includes primary data and secondary data sources.
(Oi−Ei)2
Ei
Where Oi are observation and Ei expected mean.

6. CONCEPTUAL FRAMEWORK
The Micro Insurance Agency has its roots within Opportunity
International, a large microfinance network motivated by Jesus
Christ’s call to serve the poor. With a network of 47 microfinance
institutions, Opportunity International has been serving the
entrepreneurial poor since 1971. In partnership with Opportunity’s
microfinance institutions, we began working in 2002 on the
development of a range of life, property, livestock, crop derivative,
disability, unemployment and health insurance products to cover the
risks faced by Opportunity’s loan clients.
TYPES OF MICRO-INSURANCE:
 Life Insurance,
 Health Insurance,
 Property Insurance,
 Disaster Insurance
 Unemployment Insurance
 Reinsurance
 Disability Insurance
 Crop Insurance

7. MICRO INSURANCE PRODUCTS IN INDIA
AVIVA Life Ins. Co.
India Pvt. Ltd.
Bajaj Allianz Life
Insurance Co. Ltd
Birla Sun Life
Insurance Co. Ltd.
DLF Pramerica Life
Insurance Co. Ltd
ICICI Prudential Life
Insurance Co. Ltd
Life Insurance
Corporation of India
SBI Life Insurance
Co. Ltd
TATA AIG Life
Insurance Co. Ltd.
Shriram Life
Insurance Co. Ltd
Pradhan Mantri
Bima Yojana

8. THE POTENTIAL MARKET FOR MICRO-INSURANCE IN
INDIA
Insurance
Segment
Market Size (Potential)
(Rs. Millions)
Life Segment 15393-20141
Non-Life Segment 46911.70-64,126.55
TOTAL (Life and Non-Life) 62304.70-84,267.55
IRDA’S REGULATIONS ON MICRO-INSURANCE
IRDA has allowed insurers to issue policies with a maximum cover of Rs. 50,000 for general and life
insurance under these regulations. The regulations have also eased the norms for entry of agents
relating to training and pre-recruitment examination. As an attraction, remuneration to agents has
also been levelled across the term of the policy.

9. DATA ANALYSIS &INTERPRETATION
50%50%
NO.OF RESPONDET
MALE FEMALE
17%
23%
33%
27%
NO. OF RESPONDENTS
18-25 26-33 34-41 42-49
Gender Of The Respondents Age Of The Respondents

10. Education Qualification No. Of Family Members
20%
57%
23%
NO. OF RESPONDENT
UP TO PRIMARY HIGHER SECONDARY GRADUATION
33%
33%
20%
7%
7%
NO.OF FAMILY MEMBERS
1-2 members 2-3 members 3-4 members
4-5 members 6-above members

11. No. Of Earning Members Income Level
67% 33%33%
NO. OF RESPONDENT
only earning member 2 earning members
0
19
11
00
63
37
0
0
10
20
30
40
50
60
70
0-3000 3000-5000 5000-7000 7000-10000
NO. OF RESPONDENTS
no. of respondent percentage

12. No. of Dependents Expenses Pattern
0
5
10
15
20
25
30
35
40
1-2
member
2-3
members
3-4
members
4-5
members
6- above
no. of respondents percentage
0%
33%
17%20%
17%
13%
NO. OF RESPONDENTS
travelling clothing
health education
rent & electricity drink & entertainment

13. Faced Any Problem In Family Health Or Asset Awareness About Insurance
63%
37%
NO. OF RESPONDENTS
yes no
100%
0%0%
NO. OF RESPONDENTS
aware unaware partly aware

14. Source Of Information Do You Understand Micro-insurance?
27%
10%
0%3%
10%10%
6%
0%
7%
27%
NO. OF RESPONDENTS
TV Hoardings Cinema halls
Banners Radio Company agent
Friends Relatives Magazine
Newspaper
YES
100%
NO
0%
NO. OF RESPONDENTS
YES NO

15. Which Micro-insurance Product You Have Purchase? Have You Ever Invested In Any Insurance Policy?
13%
7%
23%
3%17%
3%
7%
27%
NO. OF RESPONDENTS
AVIVA
BAJAJ
BIRLA
DLF
ICICI
100%
0%0%
NO. OF RESPONDENTS
Agree Disagree Partly agree

16. Do you think insurance is/will helpful to you? Are you interested in investing in micro-insurance?
0 20 40 60 80 100
Yes
No
May be
19
11
0
63
37
0
NO. OF RESPONDENTS
100%
0%
NO. OF RESPONDENTS
YES NO

17. Does Any Insurance Agent Have Come To You For
Your Insurance?
In Which Type Of Insurance Policy You Will Invest/
Have Invested?
60%
40%
NO. OF RESPONDENTS
YES NO
50%
43%
7%
NO. OF RESPONDENTS
Term insurance policy Endowment policy
ULIP policy Health insurance policy

18. If An Opportunity Comes In Front Of You To Invest In
Insurance Which Type Of Organization You Will
Choose?
Do You Have Any Account In?
43% 57%57%
NO. OF RESPONDENTS
government owned company private company
33%
10%
7%
50%
NO. OF RESPONDENTS
Bank Bank & Post office
Bank & Co-operative society Bank & Others

19. How Much Premium You Are Paying/ Will Prefer
Annually For Insurance?
Which Mode Of Payment Will You Prefer For
Premium?
0 10 20 30 40
Less than 1000
1000-3000
3000-5000
More than 5000
ANNUAL PREMIUM
No. of respondents percentage
17%
27%
17%
23%
10%
6%
NO. OF RESPONDENTS
Annual Quarterly Semi annually Monthly Weekly Daily

20. Where Will You Prefer To Give Your Premium? Do You Think That Insurance Is A Way To Protect In
Hard Times?
0
5
10
15
20
25
30
35
40
At your door
step
At bank At post office Other place
8 9 8
5
27
30
27
17
No. of respondents percentage
50%
40%
10%
50%
40%
10%
YES NO MAY BE

21. FINDINGS
 Study reveals that majority of people whose monthly income is less than 10000.
 Earning member in majority of family is only male
 Approximately all of the respondents want to pay premium at their door step
they want insurance agent s to come at their shop or their home to collect
premium of the insurance.
 Most of the respondents aware about insurance & they were also heard about
micro-insurance ,they believe depositing their money in bank but they also
invested their money in insurance policies.
 Maximum of respondents were daily earners their income varies from season
to season in their peak season the earns rs.200-230 per day but in off season
their earning decreases significantly, those respondents who were salaried
people get monthly salary ranging from rs.3000-5000 per months.
 Most of the respondents are married having 2-3

22. RELATION BETWEEN TWO NUMERIC VALUE (Significant results):
Pearson chi2(3) = 10.4762 Pr = 0.015
Total 7 10 10 3 30
M 4 1 8 2 15
F 3 9 2 1 15
GENDER A B C D Total
Q15
. tabulate gender q15, chi2
Pearson chi2(2) = 5.0000 Pr = 0.082
Total 3 12 15 30
M 2 3 10 15
F 1 9 5 15
GENDER M N Y Total
Q16
. tabulate gender q16, chi2
Pearson chi2(2) = 6.0256 Pr = 0.049
Total 13 12 5 30
M 5 5 5 15
F 8 7 0 15
GENDER A B C Total
Q17
. tabulate gender q17, chi2
Pearson chi2(2) = 5.2111 Pr = 0.074
Total 17 9 4 30
B 7 1 3 11
A 10 8 1 19
Q1 A B C Total
Q6
. tabulate q1 q6, chi2
Pearson chi2(5) = 14.0875 Pr = 0.015
Total 2 30
B 2 11
A 0 19
Q1 F Total
Q13
Total 5 5 7 8 3 30
B 1 1 5 0 2 11
A 4 4 2 8 1 19
Q1 A B C D E Total
Q13
. tabulate q1 q13, chi2
Pearson chi2(2) = 8.1818 Pr = 0.017
Total 3 12 15 30
B 1 8 2 11
A 2 4 13 19
Q1 M N Y Total
Q16
. tabulate q1 q16, chi2

23. CONCLUSION
From the above statistical interpretation it could be
concluded that potential lies in the society. There is a
large segment of the population whose income lies
under the boundary line of poverty & since micro-
insurance target to those people whose income level is
even less than rs.300 per day, it can penetrate
population very well. Many of our target segments
have recommended many other facilities with micro
insurance which found to be really concernable. Micro
insurance product should be manufactured in such a
way that those respondents who had denied for
having insurance for all family members only just
because of premium, can also get access through it.

24. Thank You