Active projects: India

What is the landscape for mutual microinsurance in India?

As the world’s most populous country, and with just under a quarter of the population under the poverty line, there is significant potential to develop microinsurance in India. Mutual insurance is not widely known in India, despite being in existence even before the country’s independence in 1947. The total number of low-income lives covered under mutual microinsurance was around 1 million in 2015. With about 600,000 cooperatives in the country, with a membership of over 250 million people, we believe that the potential of developing mutual and cooperative insurance in India is enormous.

Where are we now?

The country diagnostic study is publically available, this study examines the mutual microinsurance situation in India.

Since April 2017, ICMIF has been working with working with the DHAN Foundation to help it to supply 1 million previously unprotected households (or over 5 million livelihoods) with its mutual life and health microinsurance products. These individuals reside in low-income and marginalised communities, which are very vulnerable to multiple everyday risks. As of March 2021, DHAN Foundation has insured 626,891 individuals as part of the project.

Photo shows: DHAN Foundation insurance literacy training session with policyholders in Theni, India

Find out more about the India programme
and how to get involved

Scroll to Top