tailieunhanh - Assessing the insurance role of microsavings

The mystery shopping identifies potentially significant failings in the PPI sales processes of some firms. Several of the firms shopped did not comply with the specific regulatory requirements in ICOB or treating their customers fairly when undertaking these transactions. The mystery shopping results highlight standards of behaviour that fall below our expectations and raise questions about firms’ systems and controls. They may also indicate failures in the quality of staff training and competence. For example, several shoppers were unclear whether they were being sold a single or regular premium policy or whether the sale was on an advised or non-advised basis as they were given incorrect information by. | Economic DESA Working Paper No. 83 ST ESA 2009 DWP 83 October 2009 Assessing the insurance role of microsavings David Hulme Karen Moore and Armando Barrientos Social Affairs Abstract The paper contends that more attention should be paid to micro savings in view of multiple ways in which it can help poor to deal with economic insecurity. The paper presents information to show that while microsaving programs have spread their full potential is far from being realized. It presents a detailed analysis on the basis of data from a selection of micro savings programs to show how savings help the poor to smooth consumption and undertake investment. The paper urges for a strong campaign to popularise micro saving programs. JEL Classification G21 G211 O16 O17 Keywords Economic insecurity Micro credit Micro insurance Micro savings Micro finance institutions Poverty David Hulme is CPRC Associate Director and Theme Coordinator Conceptualisation of poverty dynamics and persistent poverty e-mail Karen Moore is CPRC Research Associate e-mail and Armando Barrientos is CPRC Theme Coordinator Insecurity risk and vulnerability e-mail . . All are based in the School of Environment and Development University of Manchester Manchester United Kingdom. Comments should be addressed by e-mail to the authors. Contents Introduction. 1 Microsavings and vulnerability definitions and relationships. 2 Part A Microsavings in global perspective. 4 Types of microsavings and microsavings services. 5 Scale of microsavings. 6 Part B Household utilisation of microsaving Consumption smoothing and disinvestment avoidance. 9 Part C Household utilization of microsaving investment in fixed assets. 14 Part D Microsavings from an insurance perspective Shortcomings and solutions. 15 Priorities for policy and action. 18 Conclusions. 19 References. 19 Boxes 1 Informal formal and semi-formal savings practices from around the