Another reason is total cost of insurance - in development countries insurance sector is less developed and mature, resulting in higher risk insurance, thus more costly comparing to mature insurance sectors.
I would suggest there could be multiple reasons and factors responsible. The most important is lack of enough socialization. I believe also the money which is charged by insurance companies would be huge for a poor person to bear that much of expenses since developing nations have huge population and less development. I believe the cost of doing insurance should also not be so high it should be such which can be managed even by a common person. Another reason could be the lack of enough counseling and advocacy in developing countries may be people do not know much about insurance except the ones who live in cities.
Also one should take in consideration the legislation and rule of law that some developing countries hold, as disincentives to the private insurance incursion.
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