MICROFINANCE PAPER WRAP-UP: “‘Doing the Math’ – Women’s Health Microinsurance in Guatemala, Studying Aseguradora Rural’s VivoSegura Microinsurance in Quetzaltenango,” by Derek Poulton and Barbara Magnoni, Published by The MicroInsurance Centre

“Doing the Math” – Women’s Health Microinsurance in Guatemala, Studying Aseguradora Rural’s VivoSegura Microinsurance in Quetzaltenango,” by Derek Poulton and Barbara Magnoni, Published by The MicroInsurance Centre as Microinsurance Learning Knowledge Brief Number 28, October 2013, 9 pages, available at http://www.microinsurancecentre.org/milk-project/milk-docs/doc_details/1043-milk-brief-28-qdoing-the-mathq-womens-health-microinsurance-in-guatemala.html

Gynecological cancers are one of the leading causes of death among Guatemalan women, and the authors of this study note that women in the country are very aware of gynecological concerns and they fear the toll that cancer may bring. Despite these concerns, women are unlikely to seek out gynecological services independent of other health services because community members sometimes perceive a gynecological visit as a sign of promiscuity. Women also may delay gynecological care because of lack of access or lack of finances.

Given the need for improved women’s healthcare – especially in low-income areas where access is less widespread – Aseguradora Rural, a Guatemalan insurance company, created VivoSegura, a health microinsurance product for women. Women aged 18 to 65 have voluntary access to VivoSegura if they hold savings accounts with the insurer’s partner bank, Banrural (Page 3). The product is intended to offer access to options beyond free public health centers, “where the lines are long, supplies are scarce, and service quality is low (Page 2)”.

The study was conducted in the Guatemalan city of Quetzaltanango through interviews and a questionnaire administered to 25 women who had VivoSegura insurance and 31 who were without health coverage but had visited a private gynecologist within six months. The questionnaire addressed the cost of gynecological visits, quality of service and impressions about insurance.

The insured study participants had a monthly income of USD 720 versus USD 494 for the uninsured, which is consistent with the idea that clients who seek out Banrural savings account services come from higher-income families. The findings suggest that the younger the woman, the less likely that she is insured: “The gap may reflect the fact that women in or approaching middle age are more concerned about, and possibly more aware of the need for preventing cancer, and thus more motivated to acquire VivoSegura. It may also reflect the demographics of Banrural’s savings clients, the target market for VivoSegura (Page 3)”. The researchers note that insured women tend to worry more about cancer and medical cost than the uninsured and that the decision to purchase insurance was motivated by a desire to curb the anxiety over illness in particular. The findings reaffirm the positive effects of being insured, which is the lower out-of-pocket cost during an illness that reduces financial burden on the insured.  The clients of VivoSegura “generally” perceived the cost of insurance as affordable and 64 percent believed the insurance helped save them money.

The authors argue that there is a high level of misinformation and minimal reliable education about insurance available to women in areas such as Quetzaltenango; and, in order to achieve better health outcomes, effort must be expended to provide information about insurance policies, mechanisms, preventative care and how to take full advantage of insurance coverage. They conclude that although their research shows mixed findings regarding the benefits of using VivoSegura insurance, the product does succeed in offering “tangibility” and “peace of mind” to its clients and that preventative services are of great importance to insurance holders.

By Anesa Kratovac, Research Associate

About VivoSegura Insurance

Aseguradora Rural, a Guatemalan health insurance company, developed VivoSegura as a women’s health insurance product that covers preventative and curative gynecological services, as well as cancer treatment with a fixed sum. It also includes a life insurance policy. The product is offered by Aseguradora to female clients between ages 18 and 65 that hold savings accounts with its partner bank Banrural.

Sources and Additional Resources:

[1] “Doing the Math – Women’s Health Microinsurence in Guatemala, Studying Aseguradora Rural’s VivoSegura Microinsurance in Quetzaltenango, October, 2013, by Derek Poulton and Barbara Magnoni, http://www.microinsurancecentre.org/milk-project/milk-docs/doc_details/1043-milk-brief-28-qdoing-the-mathq-womens-health-microinsurance-in-guatemala.html

MicroCapital Article, October 10, 2013, “Airtel Kenya, MicroEnsure, Pan Africa Life Announce Launch of Mobile Life Insurance in Kenya,”https://www.microcapital.org/microcapital-brief-airtel-kenya-microensure-pan-africa-life-announce-launch-of-mobile-life-insurance-in-kenya/

MicroCapital Article, July 22, 2013, “MicroCredit Enterprises Partners with Freedom from Hunger to offer Health-related Services to Clients of Microfinance Institutions (MFIs),” https://www.microcapital.org/microcapital-brief-microcredit-enterprises-partners-with-freedom-from-hunger-to-offer-health-related-services-to-clients-of-microfinance-institutions-mfis/

MicroCapital Paper Wrap-Up, April 18, 2013, ““Why People Do Not Buy Microinsurance and What Can We Do About It;” by Michal Matul, Aparna Dalal, Ombeline De Bock and Wouler Gelade; published by Microinsurance Innovation Facility,” https://www.microcapital.org/microfinance-paper-wrap-up-why-people-do-not-buy-microinsurance-and-what-can-we-do-about-it-by-michal-matul-aparna-dalal-ombeline-de-bock-and-wouler-gelade-published-by-microins/

MicroCapital Article, November 30, 2011, “Global Partnerships, Linked Foundation, Fonkoze Support Women’s Health in Haiti,”https://www.microcapital.org/microcapital-brief-global-partnerships-linked-foundation-fonkoze-support-women%e2%80%99s-health-in-haiti/

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