Published Paper Details:

Micro Insurance initiatives have made remarkable impact all over the world, but their reach has been too narrow so far. Unfortunately, the delivery of insurance services to the people in lower level of pyramid has not been seen as an essential tool for their social protection by most of the conventional insurance companies. On the other hand, rural poor who need micro insurance are not educated and not aware about micro insurance. The Indian insurance sector is one of the two fastest growing insurance markets in the world, estimated to grow at an annual rate of 17 - 20%. Real India is a rural India, around 750 million populations in India spread over 7 lakh villages is far the largest potential insurance market in India. Around 70% of the population lives in rural India. The insurance industry sells more than 6 crore policies of which 1.5 crores were sold in rural areas. Penetration is only 28% in rural areas against around 50% in urban areas. The majority insurance companies in rural area are micro insurance providers. The researchers have taken a sample of 100 respondents from the study area. simple statistical tools like averages and percentages are applied for the analysis and interpretations of results. The present study highlights the perceptions and less or no awareness of micro insurance in rural areas of Udupi District and the factors leading spread of micro insurance in rural areas.