MICROFINANCE PAPER WRAP-UP: “Audiovisual Mass Media Campaigns for Insurance Education: Stages and Lessons;” by Sarah Bel, Mariana Pinzon Caicedo; published by Microinsurance Innovation Facility, International Labour Organization

By Sarah Bel and Mariana Pinzon Caicedo; published by the Microinsurance Innovation Facility and the International Labour Organization; 2013; 55 pages; available at: http://www.ilo.org/public/english/employment/mifacility/download/mpaper21.pdf

This paper presents an analysis of the potential role of mass media campaigns in allowing microinsurance sellers to provide cost-efficient programs offering information about insurance products and services to low-income households. Traditionally, efforts to provide such “financial education” have centered on face-to-face meetings and group workshops; however the authors argue that mass media campaigns can be effective in supplementing these methods. The growth of the microinsurance industry and the diversification of risk carriers have created a need for financial education programs to expand in scale and scope in order to reach a growing audience in a more cost-effective manner. The authors argue that mass media platforms, such as comic books and radio and video programs can help to meet this need.

In order to implement mass media campaigns, the authors suggest that microinsurance providers follow five steps: campaign planning, design, management, monitoring and evaluation. Planning involves establishing campaign goals, understanding the target audience, selecting media channels, determining and allocating necessary resources, and assessing risks. Such plans help to define the requirements and objectives of the campaign, allowing for more effective design, management and evaluation. Designing mass media campaigns involves creating content, format and style; helping the audience identify with the campaign topic; creating an element of interactivity; and piloting the content and format of the campaign. Effective designs generally cater to the target audience and seek to personalize the material presented. Managing the campaign entails disseminating the program and connecting the campaign to the sales process. This requires that the campaign present audiences with a clear connection between its content and the products about which the campaign is intended to educate. Monitoring and evaluating the campaign involves selecting appropriate methodologies, analyzing the campaign effectiveness and outreach, and evaluating the campaign’s cost-effectiveness.

The authors conclude that mass media campaigns “have the potential to enable organizations to reach wide audiences in a cost-effective manner,” however these campaigns “should not be viewed as replacements for classroom-based training, but rather as a supplement to expand the outreach of existing programs.” The complementary nature of mass media campaigns and traditional face-to-face instruction and services suggests that such programs may be most effective when nongovernmental organizations (NGOs), microinsurance providers and financial associations work together to coordinate outreach campaigns for promoting economic development and financial literacy.

By Makai McClintock, Research Associate

Sources and Additional Resources

“Audiovisual Mass Media Campaigns for Insurance Education: Stages and Lessons;” by Sarah Bel and Mariana Pinzon Caicedo; published by Microinsurance Innovation Facility, International Labour Organization; 2013; 55 pages; available at: http://www.ilo.org/public/english/employment/mifacility/download/mpaper21.pdf

MicroCapital.org Article, 8 April 2013: “MICROCAPITAL BRIEF: Opportunity International, MicroEnsure Launch Savings-Linked Education Insurance Program, EduSave, in Malawi,” https://www.microcapital.org/microcapital-brief-opportunity-international-microensure-launch-savings-linked-education-insurance-program-edusave-in-malawi/

MicroCapital.org Article, 23 February 2013: “MICROCAPITAL PAPER WRAP-UP: ‘Microinsurance Product Development for Microinsurance Providers’ published ”; published April 11th, 2012; https://www.microcapital.org/microfinance-paper-wrap-up-microinsurance-product-development-for-microinsurance-providers-by-michael-j-mccord-published-by-microfinance-centre-microinsurance-centre-internatio/

MicroCapital.org Article, 23 February 2012: “MICROCAPITAL PAPER WRAP-UP: The Debate on Outreach & Impact: What Do We Know and How Do We Know It”; published June 2011; https://www.microcapital.org/microfinance-paper-wrap-up-the-debate-on-outreach-impact-what-do-we-know-and-how-do-we-know-it-by-david-s-gibbons-published-by-global-microcredit-summit/

MicroCapital Universe Profile: Microinsurance Innovation Facility (MIF)
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Microinsurance+Innovation+Facility+%28MIF%29

MicroCapital Universe Profile: International Labour Organization (ILO)
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=International+Labour+Organization+%28ILO%29

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