Microinsurance Industry Sees Profits From the Poor

Slum-dweller Krustin bin Juri lost everything when floodwaters swept through his home and shop on the banks of Jakarta's filthy Ciliwung river two years ago.

But when the next flood hits, and it will because Jakarta sees frequent floods in the rainy season, bin Juri may have a modicum of protection thanks to a low-cost insurance policy that he purchased this month.

He is among millions of the world's poor who are covered for natural disasters by cheap insurance, or microinsurance, as commercial firms recognise that insuring the poor is not just good public relations but also profitable...

I&T: Microinsurance Industry Sees Profits From the Poor