Economic development through microinsurance & thrift mangement a case of underprivileged sections of society

Social inclusion has become the buzz word and various organizations are putting effort either individually, through their Corporate Social Responsibility activities or by joining hands with the government to ensure inclusion of the weaker sections of society and bringing them into mainstream. This study which is based on secondary research, tries to study the significance of MicroInsurance and how it could help in supporting the underprivileged by covering risk and ensuring economic stability amongst them. The industry is still in its infancy and there is need to popularize the concept through extensive awareness programmes aiming at the target groups. The study identifies that MicroInsurance can categorically help the poor and underprivileged people in society thereby assisting the economic development of the country as a whole. The focus of the study is to highlight the observations made with regard to Thrift Management and MicroInsurance among the underprivileged who are the target group in this study.