Innovating Disaster Micro-Insurance for Local Market Recovery

Project Description

Initially funded by the Humanitarian Innovation Fund, this is an ongoing randomized controlled trial of disaster insurance for urban informal slum businesses and their households in three Indian cities to test the impact on livelihood and local market recovery. Cash and market based interventions are gaining traction in humanitarian practice to more appropriately help those affected by crises move into recovery. Urban residents get their goods and services from local markets and the urban poor are no exception. Yet financial products and insurance for the informal sector of small and micro-enterprises, that make up a significant part of local markets for the urban poor, are lacking. This research investigates the value of an innovative product, developed in conjunction with The All India Disaster Mitigation Institute and the largest public Insurance companies in India, to enhance recovery and build resilience.