What is Micro Insurance?

Campaign Overview

 

It is almost two decades now that we have been hearing the term micro insurance. This often leads us to believe that it is something new which it’s actually not. Looking at the term closely it will be discovered that it has its roots within the financial services that are known as micro finance where it first appeared. Gradually, the term became more relevant in the social and economical context that finally converted the concept it into a full-fledged sector of insurance business. In order to understand the concept of micro insurance, it is important to first understand the basics of insurance and its origin.

Historic roots of micro insurance

 It will not be wrong to say that the concept of insurance is as old as the hills. The basic spirit of insurance is to secure financial coverage for goods that are being transacted and are exposed to the risks of damage before the transaction has been completed. Similarly, insurance also applies to life by attaching a value to it and making arrangements for financial indemnification of the affected person’s family in case of loss of life. Many historical milestones are related to insurance.

  • In China, the merchants and the investors shared the risk of goods that were lost during shipping to other countries. This system dates back to 3000 B.C.
  • The Great Fire of London that happened in 1666 marked the launching of the first fire insurance company of the country.
  • The system of insurance for maritime cargo was adapted around the same time of the Great Fire by the company named Llyod’s of London.
  • Modern life insurance was mooted in the 17th century that was marked by the creation of the first mortality table.

Micro insurance defined

As told earlier, micro insurance is a concept that has been derived from micro finance.  It is one of the financial services that can be considered as an addition to the well known processes of cashless payments, savings and credit.  It was around 1999 that the term first came into prominence and ever since its definition has been evolving.  There are some varied ways of explaining it.

A risk-transfer tool that helps low income groups not covered by social insurance schemes with low coverage limits and obviously entails low premium is a prevailing definition of the concept. It is aimed at protecting low income persons financially from the specific perils for which premium has to be paid. The premium is linked to the extent of coverage. Despite different schemes available from different service providers, it works in accordance to the laid down insurance practices.

A product for the developing world

Economic and social changes have compelled policy makers to extend more benefit to low income groups and can be considered as one of the reasons why micro insurance is fast gaining popularity. Currently, there are more than 500 million clients of micro insurance across the developing world.

India and West Africa top the list of clients of micro insurance as almost 70% of clients are from Asia only.

 

 

 

 

 

 


Campaign Video

Campaign Milestones
1) A product for the developing world
Economic and social changes have compelled policy makers to extend more benefit to low income groups and can be considered as one of the reasons why micro insurance is fast gaining popularity. Currently, there are more than 500 million clients of micro insurance across the developing world.
India and West Africa top the list of clients of micro insurance as almost 70% of clients are from Asia only.
2) A product for the developing world
Economic and social changes have compelled policy makers to extend more benefit to low income groups and can be considered as one of the reasons why micro insurance is fast gaining popularity. Currently, there are more than 500 million clients of micro insurance across the developing world.
India and West Africa top the list of clients of micro insurance as almost 70% of clients are from Asia only.

3) A product for the developing world
Economic and social changes have compelled policy makers to extend more benefit to low income groups and can be considered as one of the reasons why micro insurance is fast gaining popularity. Currently, there are more than 500 million clients of micro insurance across the developing world.
India and West Africa top the list of clients of micro insurance as almost 70% of clients are from Asia only.

4) A product for the developing world
Economic and social changes have compelled policy makers to extend more benefit to low income groups and can be considered as one of the reasons why micro insurance is fast gaining popularity. Currently, there are more than 500 million clients of micro insurance across the developing world.
India and West Africa top the list of clients of micro insurance as almost 70% of clients are from Asia only.


Location

Evaluations
Every campaign participant is evaluated on the following criteria:

1) Collaboration - Are you sharing other campaign members posts?

2) Creativity - Is your content fresh, inspiring and thought provoking?

3) Performance - Do your readers and followers take action?

FAQs

Bloggers on Triberr are contracted to represent a brand in a genuine and enthusiastic way for a period of 4 weeks or longer.

Bloggers are fairly compensated for their ambassadorship. Each campaign is little bit different, but generally speaking, bloggers are expected to write 3-4 campaign related posts per month. A unique feature of brand ambassadorship through Triberr, is the collaborative approach to campaigning.

Every time you publish a new blog post, everyone in your campaign tribe is obliged to share it across Twitter, Facebook, LinkedIn, Pinterest, etc.

This means that if 100 people are part of the campaign, you are virtually guaranteed 99 shares on Twitter, 99 shares on Facebook, etc. In other words, people will see your post, so make it good.
Influencer Marketing is a new form of marketing where companies hire influential bloggers to promote and endorse their brand, products or services.

For years, big brands like Nike would hire celebrities like Tiger Woods to endorse their products. These celebrities had tremendous reach and influence through television.

Today, bloggers and social media enthusiasts are the celebrities of the Internet. While a popular blogger may not have the reach of Tiger Woods, hundreds of bloggers working together do.

Triberr's Influencer Marketer campaigns are way for brands to hire large groups of Influencers who can work together to achieve a single brand goal.
Each Influencer who completes all campaign milestones will be eligible for payment.

Payment will be paid within 30 days of campaign completion via paypal or check. Check payouts require a minimum amount of $100. Paypal payments have no minimum.