Factors Persuading the Customers for Buying Micro Insurance Policy (A Study with Reference to Kollam District, Kerala).

In India, liberalisation of the economy, has created new opportunities for insurance to reach the vast majority of the poor, including these who are working in the informal sector. Micro insurance in India has valuable lessons for the rest of the world, particularly in the Regulation of the Insurance industry. Unlike micro lending - the better known side of micro financemicro insurance has been a hard sell among the world's poor. The reasons include lack of understanding of how insurance products work, general reticence of the poor to part with what little financial resources they have, and a shortage of localized risk management knowledge among providers. Micro insurance depends on innovation and co-operation. The present research paper brings to limelight to factors influencing the customers for buying micro insurance policy in Kollam district, Kerala. [ABSTRACT FROM AUTHOR]