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Market research for microinsurance: How to translate consumer insights into improved results

Duration: 4 days* (3 days classroom, 1 day field)

Overview:

To improve their institution’s value proposition and outreach, microinsurance practitioners should understand and use market research effectively. This training is designed to increase a practitioner’s ability to gather consumer insights that can be translated into a product offering suitable to their target audience, thereby increasing the probability of a profitable and sustainable microinsurance business model. 

Training Objectives:

By the end of this course, participants will be able to:

  • Analyse the risk management needs and coping strategies of low-income households.
  • Identify key determinants of low-income households’ demand for insurance.
  • Determine how market research can improve an institution’s client value proposition and bottom line.
  • Practice using a client value assessment tool called PACE to define research questions and translate results into practice.
  • Select appropriate methods for specific research objectives.
  • Test data collection and analysis techniques to identify success factors and pitfalls.

Who could benefit from the training:

  • Microinsurance practitioners involved in product design and/or marketing
  • Senior executives interested in making their institution more client-focused
  • Staff involved in research and development, sales, customer care and marketing

Methodology:

This training uses the experiential learning approach via field work exercises. Other interactions include large group discussions, small group activities such as puzzle solving, case study analysis and role plays.

*A blended version of this course comprising of 11 online lessons and a one-day face to face session is also available.