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There is much data to gather from insurers that would provide the basis for significant analysis and assistance to insurers and others. However, there are issues of motivation and practical issues of gathering data in a form that many insurers are not familiar with. So in the initial phase, the ‘Global Microinsurance Benchmark Database’ minimizes the reluctance of insurers by focusing on minimal data that can be turned into valuable analysis for all parties. Gradually, as insurers become more comfortable providing data, they would see the value to their organizations, and would also begin to store data in a manner that is easier to mine for microinsurance information.

Currently the database plans to cover 10 countries including Colombia, Mexico and Peru in the Latin America region; Kenya, Senegal, South Africa, and Uganda in the Africa region; and Bangladesh, India and Philippines in the Asia region. In the pilot phase of data collection carried out in the third quarter of 2009, only key data was requested using an online questionnaire tool called Survey Gizmo. The questionnaire is designed in Spanish and English and uses advanced logic that makes it easier for respondents to complete the survey quickly.

The questionnaire captures microinsurance information across product types and delivery channels and includes:
• Key institutional information (name, contacts, contact person, organization type, and number of years of microinsurance operation)
• Total value of premium, claims and number of policyholders / covered lives in the traditional insurance business
• Information captured across product types under different lines of microinsurance business like Health, Life and Property
• Outreach – Number of policyholders and covered lives at year end
• Premium – Total value of gross and net premiums of Microinsurance product types
• Claims – Total value of incurred and paid claims across product types
• Delivery Channels – Gross premium, covered lives and number of policies sold across delivery channels

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