Special Issue "Inclusive Insurance"

A special issue of Risks (ISSN 2227-9091).

Deadline for manuscript submissions: 31 May 2024 | Viewed by 1780

Special Issue Editors

Institute for Financial and Actuarial Mathematics, Department of Mathematical Sciences, University of Liverpool, Liverpool L69 7ZL, UK
Interests: actuarial science; risk theory; dependence structures; heavy-tailed distributions; bonus-malus systems
Special Issues, Collections and Topics in MDPI journals
Department of Actuarial Science, Faculty of Business and Economics (HEC Lausanne), University of Lausanne, 1015 Lausanne, Vaud, Switzerland
Interests: mortality models; cause-of-death mortality rates; cause-specific mortality dependence; social security; notional defined contribution pension schemes
Special Issues, Collections and Topics in MDPI journals
Faculty of Liberal Arts and Professional Studies, York University, Toronto, On M3J 1P3, Canada
Interests: applied microeconomics; public economics; natural resource economics; environmental economics; industrial organization
1. Department of Mathematics and Statistics, York University, Toronto, ON M3J 1P3, Canada
2. Risk and Insurance Studies Centre (RISC), York University, Toronto, ON M2J1P3, Canada
Interests: distribution theory (e.g., dependence modeling, sums of random variables, factor models, measures of dependence); risk measurement (e.g., risk measures, risk capital allocations); insurance and economic pricing
Michael McCord
E-Mail Website
Co-Guest Editor
McMilliman, Appleton, WI 54914, USA
Interests: microinsurance; microfinance; microinsurance regulation; product development
Dirk Reinhard
E-Mail Website
Co-Guest Editor
Munich Re Foundation, 80791 München, Germany
Interests: insurance; microfinance; microinsurance regulation

Special Issue Information

Dear Colleagues,

All over the world, people from low-income backgrounds face environmental, personal and working conditions that render them vulnerable to a variety of risks; if unable to rely on social safety nets, as it is often the case, they risk falling into hardship. When properly designed, insurance can help low-income people to cope with such risks. This is the context of inclusive insurance, and its goal is to provide affordable, sustainable, responsible, and accessible financial protection against risks, making markets work for the poor, reducing the risk of poverty traps, and enabling everyone to share in the upside of economic growth.

While (inclusive) insurance can play an important strategic role in securing sustainable economic development and eradicating poverty, thus contributing to the 17 United Nations’ Sustainable Development Goals, billions of people are still left without appropriate risk management, and the private and social benefits of inclusive insurance remain untapped.

The aim of this Special Issue is to gather science-driven and practice-informed intelligence to address opportunities for and barriers to inclusive insurance, and to identify ways to accelerate growth and economic viability in inclusive insurance for the benefit of all parties (households, insurers, and governments)—particularly in emerging markets. This Special Issue will serve as a platform to promote greater engagement between academics and practitioners in support of the co-creation of social value both locally and globally.

Prof. Dr. Corina Constantinescu
Prof. Dr. Séverine Arnold
Dr. Ida Ferrara
Prof. Dr. Edward Furman
Michael McCord
Dirk Reinhard
Guest Editors

Manuscript Submission Information

Manuscripts should be submitted online at www.mdpi.com by registering and logging in to this website. Once you are registered, click here to go to the submission form. Manuscripts can be submitted until the deadline. All submissions that pass pre-check are peer-reviewed. Accepted papers will be published continuously in the journal (as soon as accepted) and will be listed together on the special issue website. Research articles, review articles as well as short communications are invited. For planned papers, a title and short abstract (about 100 words) can be sent to the Editorial Office for announcement on this website.

Submitted manuscripts should not have been published previously, nor be under consideration for publication elsewhere (except conference proceedings papers). All manuscripts are thoroughly refereed through a single-blind peer-review process. A guide for authors and other relevant information for submission of manuscripts is available on the Instructions for Authors page. Risks is an international peer-reviewed open access monthly journal published by MDPI.

Please visit the Instructions for Authors page before submitting a manuscript. The Article Processing Charge (APC) for publication in this open access journal is 1400 CHF (Swiss Francs). Submitted papers should be well formatted and use good English. Authors may use MDPI's English editing service prior to publication or during author revisions.


  • inclusive insurance
  • microinsurance
  • Sustainable Development Goals
  • poverty alleviation
  • climate risk
  • gender and equality
  • digitalization
  • regulation

Published Papers (1 paper)

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29 pages, 821 KiB  
Microinsurance and Economic Growth in Africa
Risks 2023, 11(10), 175; https://doi.org/10.3390/risks11100175 - 08 Oct 2023
Viewed by 1006
The reach and scope of microinsurance have expanded considerably over the last couple of decades. The literature on microinsurance focuses predominantly on its microeconomic impact. In contrast, I examine the contemporaneous and intertemporal effect of microinsurance on economic development using rich census data [...] Read more.
The reach and scope of microinsurance have expanded considerably over the last couple of decades. The literature on microinsurance focuses predominantly on its microeconomic impact. In contrast, I examine the contemporaneous and intertemporal effect of microinsurance on economic development using rich census data of microinsurance coverage in African economies. Estimates suggest that microinsurance affects economic growth both on impact and over time, with the magnitude of the intertemporal effect exceeding that of the contemporaneous effect. Evidence also suggests nonlinearities in the microinsurance–growth nexus. The marginal effect of microinsurance is a negative function of the starting level of development. For low-income countries, microinsurance has a robust positive effect on economic growth, both in terms of impact and over time. However, microinsurance may fail to leave a lasting trace on the aggregate economy in “richer” developing countries. Full article
(This article belongs to the Special Issue Inclusive Insurance)
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