Disclosure, Andy used to work in the same office I did in New York. I think and hope he is onto something big. Being able to believe, act and live long term are some of the keys to sustained development. Insurance allows for more choice, innovation and freedom of action.
Andy's approach like micro-finance has many interesting innovations relevant to developing countries in delivery and management which make it feasible. He uses existing social structures, cultural institutions and norms to help deliver and market the product.
Price innovation at a $1 price point is easy, understanding packaging, support and motivations and commercial viability at that price is the key to good service and product design. Kind of an applied systems thinking anthropology approach to the problem, gotta like that.