The poor communities in Africa, Asia and across the globe have homes, businesses, schools and other institutions within their midst. All these have physical assets as well as inhabitants that are prone to insurance risks including fire, theft, accidents, extreme weather and other exposures. There is alot of effort, initiatives and alot of money spent by numerous aid organisations, charities and governments to facilitate self sufficiency in these less fortunate communities.

All this effort goes to waste if a particular insurable event occurs and damages or wipes out physical assets in such communities and there is no insurance cover in place. This is usually the case because typical insurance company covers limit themselves to particular types and values of property not usually within the scope poor communities.

Therefore, there is a need to come up with a community insurance scheme that allows for the communities to attain suitable insurance cover against the various risks. In thinking of solutions, I would request that you think of two issues: 1. Who will provide the insurance company (pooled fund, insurance company, mutual etc)? and 2. Who will pay for the insurance premiums (community members, charities, etc?

Please bear in mind that the solution should be implementable by a non governmental organisation without requirement for government intervention or support. (i.e. a self sufficient scheme)