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Abstract
There
has
been
much
recent
interest
in
the
demand
for
index
insurance,
the
influence
of
financial
literacy
on
demand
for
financial
products,
as
well
as
the
positive
benefits
of
experimental
games.
This
paper
describes
a
randomized
control
trial
(RCT)
that
was
performed
to
understand
the
effect
of
experimental
games
on
take-‐up
rates
for
index
insurance.
Because
estimation
of
the
optimal
level
of
take-‐up
is
far
beyond
the
scope
of
the
current
work,
we
simply
present
the
impacts
we
observe
on
take-‐up.
We
are
not
advocating
increased
take-‐up
in
this
paper
or
suggesting
that
take
up
rates
are
too
low.
These
games
were
observed
to
increase
take-‐up
of
index
insurance
from
15.75%
in
the
control
group
to
20.36%
in
the
treatment
group,
increasing
the
number
of
purchasers
by
nearly
one
third.