From Take-up to Impact: Evidence and Research Gaps on Inclusive Insurance
Inclusive insurance refers to insurance products designed to meet the needs of populations typically excluded from traditional insurance markets, particularly people with low incomes. By making coverage more affordable and accessible, these products aim to help people manage risks to their health, livelihoods, and assets.
Developed through a collaboration between J-PAL and AXA EssentiALL, From Take-up to Impact: Evidence and Research Gaps on Inclusive Insurance is a white paper that reviews research on health, agricultural, life and funeral, and natural disaster insurance. It examines both what drives enrollment and what happens after people obtain coverage, drawing on evidence from low- and middle-income countries and relevant studies of vulnerable populations in higher-income countries.
In the settings studied, insurance has helped households manage expenses after shocks, avoid costly coping strategies, and make productive investments. Some effects extend to family members and communities. These benefits depend on whether people can access and use coverage that meets their needs. Research finds that price, payment timing, product complexity, trust, service quality, and enrollment and claims processes can all affect take-up and the value customers receive. However, evidence remains uneven across insurance products, populations, and outcomes.
The white paper sets out a research agenda to address these evidence gaps and encourages collaboration between academics and insurers to design, test, and scale inclusive insurance products and delivery methods. The accompanying executive summary builds on this agenda with a call to action for the academic community, development actors, and insurance stakeholders to form new partnerships and generate rigorous, independent evidence on inclusive insurance.
