Client Suitability: Role of Market Research in Microinsurance

• by Premasis Mukherjee
• Sep 19, 2013
• 1 min
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In this Note, MicroSave discusses the role market research plays in the design of product and delivery channel strategy for microinsurance.

Insurance is an intangible product. Any product designed without market research (to understand the perceptions and preferences of the target market) is likely to be less attractive, and to experience reduced traction with clients. An effective market research on microinsurance, does not only help design a client oriented product, but also helps in the design of positioning and marketing strategy, awareness and insurance literacy campaigns and provide crucial hint for pricing of the product. In this Note, MicroSave discusses the role market research plays in the design of product and delivery channel strategy for microinsurance.