MicroCapital » Microinsurance

MICROFINANCE PUBLICATION ROUND-UP: Role Reversal Revisited, Microinsurance Profitability Business Case, Trends in Cross-Border Funding

Kristha Abores — Tue, 07 Feb 2012 05:03:38 +0000

“Role Reversal Revisited,” by Damian von Stauffenberg and Daniel Rozas, published by MicroRate, 2011, 22 pages, available at http://microrate.com/wp-content/uploads/2012/01/Role-Reversal-Revisited-…

This paper reviews the roles of development finance institutions (DFIs) and private lenders in funding microfinance institutions (MFIs). While DFIs are expected to pave the way for private funders to support MFIs as the industry matures, “Role Reversal,” a 2007 report published by MicroRate indicates that this is not the case. The 2007 paper observed that DFI lending was heavily concentrated towards the most creditworthy MFIs, leaving investment in smaller or riskier MFIs to private microfinance funds. This new report re-examines the situation and finds that MFIs with easy access to private funding still make up a significant portion of DFI lending.

“A Business Case for Microinsurance: An Analysis of the Profitability Of Microinsurance for Five Insurance Companies,” Janice Angove and Nashelo Tande, published by the Microinsurance Innovation Facility, July 2011, 55 pages, available athttp://www.ilo.org/public/english/employment/mifacility/download/mp11bus…

This paper analyses the profitability of microinsurance through case studies of five insurers that operate in low-income markets in Kenya, South Africa, India, Guatemala and the Philippines. The authors utilize a framework based on three main drivers of profitability: generating sufficient income by reaching scale, managing claims costs and managing acquisition and administration costs. The findings indicate that products with simple life benefits can be profitable. Working with partners can also be beneficial for insurers, both in managing distribution and administration costs as well as in providing customers value beyond the cover provided by the insurance policies.

“Trends in Cross-Border Funding,” by Barbara Gähwiler and Alice Nègre, published by CGAP (Consultative Group to Assist the Poor), December 2011, 4 pages, available athttp://www.cgap.org/gm/document-1.9.55998/Brief_Cross-BorderFunding.pdf

This paper describes global trends in microfinance funding between 2007 and 2010 based on data from the annual CGAP Funder Survey of cross-border funders. The findings show that the amount of new commitments increased from USD 2.9 billion in 2009 to USD 3.6 billion in 2010. The study also shows the increased use of microfinance investment vehicles (MIVs) and other intermediaries in channelling investments. While debt remains the primary instrument used by funders, equity investments have increased, with the share of equity funding in total commitments at 13 percent in 2010, up from 9 percent in 2008.

By Kristha Abores, Reseach Associate

Sources and Additional Resources:

[1] “Role Reversal Revisited,” http://microrate.com/wp-content/uploads/2012/01/Role-Reversal-Revisited-…

[2] “A Business Case For Microinsurance: An Analysis Of The Profitability Of Microinsurance For Five Insurance Companies,”http://www.ilo.org/public/english/employment/mifacility/download/mp11bus…

[3] “Trends in Cross-Border Funding,” http://www.cgap.org/gm/document-1.9.55998/Brief_Cross-BorderFunding.pdf

“Cross-border Funding (2011),” http://www.cgap.org/p/site/c/template.rc/1.11.45737/1.26.17576/

“CGAP Cross?border Funder Survey 2011,” http://www.cgap.org/gm/document-1.9.55343/Funder_Survey_2011_Results_Table_Rev.pdf

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MICROFINANCE PUBLICATION ROUND-UP: Willingness to Pay for Business Correspondents in India, Health Microinsurance Third Party Payment Mechanisms, Accenture Development Partners Report on Microinsurance

Kristha Abores — Sun, 29 Jan 2012 07:23:49 +0000

“The Answer is ‘Yes’—Cost and Willingness to Pay in India;” by Akhand Tiwari, Akhilesh Singh, Ann-Byrd Platt, Graham A N Wright, Minakshi Ramji and Sachin Bansal; published by MicroSave; 2011; 16 pages; available at http://ami.microsave.org/sites/default/files/research_papers/CWP_Summary…

This paper summarizes the results of a study conducted by MicroSave, an India-based resource center for microfinance practitioners, regarding the use of business correspondents (BCs), particularly in the Indian states of Rajasthan, Tamil Nadu and Uttar Pradesh. It explores the business case for Indian banks using BCs and considers customers’ willingness to pay for the service. According to the findings, a significant number of respondents have difficulty conducting bank transactions and are willing to pay extra for the convenience of BC services.

“Third Party Payment Mechanisms in Health Microinsurance,” by Pascale Le Roy and Jeanna Holtz, published by the Microinsurance Innovation Facility, October 2011, 41 pages, available at http://www.ilo.org/public/english/employment/mifacility/download/mpaper1…

This paper discusses the results of a study conducted by the Microinsurance Innovation Facility of the UN’S International Labour Organization and the Microinsurance Network’s working group on health insurance to explore third-party payment (TPP) mechanisms adopted by some health microinsurance (HMI) schemes. Using data collected from literature reviews, case studies and survey and interviews of HMI practitioners, the authors analyse the different claims models available to HMI schemes and the pros and cons of using a TPP mechanism, as well as the key issues to address when establishing and managing a TPP mechanism.

“Succeeding at Microinsurance Through Differentiation, Innovation and Partnership,” by Thomas Meyer and Madhu Vazirani, published by Accenture, January 2012, 20 pages, available at http://www.microensure.com/images/library/files/Resources/Microinsurance…

This paper addresses microinsurance in emerging markets and provides a brief overview of microinsurance markets identified as having significant immediate potential: Brazil, India, Indonesia, China, Mexico, the Philippines, South Africa, Colombia, Kenya, Nigeria and Vietnam. The paper investigates the factors that might drive the success of a microinsurance offering and identifies partnerships, technological innovation and differentiation as essential to a microinsurance strategy.

By Kristha Abores, Research Associate

Sources and Additional Resources:

[1] “The Answer is “Yes”—Cost and Willingness to Pay in India,” http://ami.microsave.org/sites/default/files/research_papers/CWP_Summary…

[2] “Third Party Payment Mechanisms in Health Microinsurance,” http://www.ilo.org/public/english/employment/mifacility/download/mpaper1…

[3] “Succeeding at microinsurance through differentiation, innovation and partnership,” http://www.microensure.com/images/library/files/Resources/Microinsurance…

Browse the MicroCapital Universe and add your entry to the wiki at: http://www.microcapital.org/microfinanceuniverse/

MICROCAPITAL BRIEF: Microcredit Summit Campaign, Freedom from Hunger Partner on Effort to Bring Health Services to 3.7m, Program to be Piloted in India

Charlotte Newman — Sat, 28 Jan 2012 21:54:35 +0000

The Microcredit Summit Campaign, a US-based advocacy organization, has partnered with Freedom from Hunger, a US-based development NGO, to launch a project intended to provide health insurance to approximately 3.7 million people worldwide. While the cost of the program has not been released, an unspecified portion of the project is funded through a grant from Johnson & Johnson, a US-based healthcare products company. The entire program aims to reach 700,000 microfinance clients plus their family members with both health education and health insurance over a five-year period. According to a study funded by the US-based Bill and Melinda Gates Foundation, microfinance institutions can provide health insurance for as little as USD 1.59 per client per year.

The two organizations plan to pilot the program in India before growing to a global scale.

As of 2012, Freedom from Hunger has 26 partner microfinance organizations serving 2 million families.

About Microcredit Summit Campaign
Microcredit Summit Campaign is a project that was launched in 1997 by RESULTS Educational Fund (REF), a nonprofit advocacy group that is based in Washington, DC. The Campaign’s mission is to help 100 million people rise above the international poverty line of USD 1.25 a day by 2015. The campaign also aims to bring financial and business services to 175 million people, especially women, by 2015.

About Freedom from Hunger
Freedom from Hunger is based in Davis in the US state of California. Formerly called “Meals for Millions,” it is an international development NGO that operates in 19 countries with the aim of alleviating hunger and poverty. Its microfinance programs service approximately 2 million families through 26 partner microfinance institutions. At the end of 2011, Freedom from Hunger was working with 150 partners and reaching approximately 3.9 million women plus their families.

By Charlotte Newman, Research Associate

Sources and Additional Resources:

Information sent from the Microcredit Summit Campaign to MicroCapital, January 23, 2012, “Microcredit Summit Campaign and Freedom from Hunger Form Alliance to Benefit 3.7 Million of the World’s Poor Through Combining Microfinance and Health”

MicroCapital.org story, November 18, 2011, “MICROCAPITAL BRIEF: Microcredit Summit Campaign Report: 137 Million People Received Microloans in 2010,” http://www.microcapital.org/microcapital-brief-microcredit-summit-campaign-report-137-million-people-received-microloans-in-2010/

MicroCapital.org story, March 28, 2011, “MICROCAPITAL BRIEF: Freedom from Hunger Staff Co-author ‘Integrating microfinance and health strategies: examining the evidence to inform policy and practice,’” http://www.microcapital.org/microcapital-brief-freedom-from-hunger-staff-co-author-integrating-microfinance-and-health-strategies-examining-the-evidence-to-inform-policy-and-practice/

MicroCapital Universe Profile: Microcredit Summit Campaign http://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Microcredit+Summit+Campaign

MicroCapital Universe Profile: Freedom from Hunger http://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=freedom+from+hunger

Browse the MicroCapital Universe and add your entry to the wiki at http://www.microcapital.org/microfinanceuniverse/

MICROCAPITAL BRIEF: IFC Advising FINO in Effort to Extend Financial Services to 100m Indians Over 3 Years

Ariana Malushi — Thu, 19 Jan 2012 17:40:34 +0000

The International Finance Corporation (IFC), a member of the World Bank Group, has agreed to provide advisory support to Indian for-profit technology and services provider Financial Information Networks and Operation (FINO) in its goal to bring financial products such as microinsurance, remittance and deposit services to 100 million clients in India over the next three years. IFC’s commitment follows cash investments that IFC made in FINO in 2007 and 2009.

Founded in 2006, FINO serves 43 million enrolled customers through the financial institutions that use its products.

As of 2011, IFC has 182 member countries, total assets of USD 68.5 billion and total investment mobilization of USD 12.2 billion to 518 projects.

About Financial Information Networks and Operation (FINO)
Financial Information Networks and Operation (FINO) is an Indian for-profit company that provides technological products to microfinance institutions (MFIs), banks and insurance companies. Its products include management software for microloans and biometric smartcards that store transaction records. The company was founded in 2006 and serves 43 million enrolled customers served through the financial institutions that use its products.

About The International Finance Corporation (IFC)
A member of the World Bank Group, the International Finance Corporation (IFC) offers loans, equity investments, advisory services and technical assistance to private companies with the intent of alleviating poverty and promoting open and competitive markets in developing countries. As of 2011, IFC has 182 member countries, total assets of USD 68.5 billion and total investment mobilization of USD 12.2 billion to 518 projects.

By Ariana Malushi, Research Associate

Sources and Additional Resources

Information submitted to MicroCapital by Email from IFC

IFC: “IFC Supports Electronic Payments Provider FINO to Extend Financial Services to Millions in India”
http://www.ifc.org/IFCExt/Pressroom/IFCPressRoom.nsf/0/5ADD8689806CDE4685257981002DD346

MicroCapital.org Story, June 16, 2010, “MICROCAPITAL BRIEF: Microfinance Opportunities (MFO) and The MasterCard Foundation Announce Partnership with Financial Information Networks and Operation (FINO) of India and The Rural Bankers Association of the Philippines (RBAP) for Branchless Banking Program”
http://www.microcapital.org/microcapital-brief-microfinance-opportunities-mfo-and-the-mastercard-foundation-announce-partnership-with-financial-information-networks-and-operation-fino-of-india-and-the-rural-bankers-associat/

MicroCapital.org Story, December 20, 2011, “MICROCAPITAL BRIEF: International Finance Corporation (IFC), India’s Microfinance Institutions Network (MFIN) Promote Reporting to Credit Information Bureau”
http://www.microcapital.org/microcapital-brief-international-finance-corporation-ifc-indias-microfinance-institutions-network-mfin-promote-reporting-to-credit-information-bureau/

MicroCapital.org Story, December 14, 2009, “MICROCAPITAL BRIEF: Indian Microfinance Technology Provider ‘Financial Information Networks and Operation’ (FINO) Receives $15m in Equity Capital from HSBC Private Equity, Intel Capital, and the International Finance Corporation (IFC)”
http://www.microcapital.org/microcapital-brief-indian-microfinance-technology-provider-financial-information-networks-and-operation-fino-receives-15m-in-equity-capital-from-hsbc-private-equity-intel-capital-and-the-int/

MicroCapital Universe: The International Finance Corporation (IFC)
http://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=International+Finance+Corporation+%28IFC%29

MicroCapital Universe: Financial Information Networks and Operation (FINO)
http://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Financial+Information+Networks+and+Operation+%28FINO%29

Browse the MicroCapital Universe and add your entry to the wiki at http://www.microcapital.org/microfinanceuniverse/

MICROCAPITAL BRIEF: Pesinet Brings Microinsurance, Health Monitoring to Children in Mali

Kristha Abores — Mon, 16 Jan 2012 15:07:17 +0000

MobileActive, a global network of people using mobile technology for social impact, recently reported on Pesinet, a French nonprofit that uses mobile technology to provide regular health checkups and insurance to young children in Mali. A fee of XOF 500 (USD 0.96) per month covers doctor examinations and half the cost of any medications the child may need.

Community workers examine enrolled children weekly to test for symptoms of illness and use their mobile phones to enter the data gathered into a custom-designed application that aggregates the information online via general packet radio service (GPRS). Patient data is monitored by doctors at local community health centres, and community health workers are alerted when a child should be seen at the centre for further examination.

In a survey of participating families, 94 percent reported satisfaction with Pesinet, and 97 percent called the service “very affordable.” Participating health centres have also seen a 37-percent increase in visits from Pesinet subscribers. However, Pesinet is still faced with the challenge of promoting the value of paying for precautions against future illnesses, as insurance and preventative medicine are not very prevalent in Mali.

As of December 2011, approximately 600 children from the Bamako Coura neighbourhood in the city of Bamako have signed up for Pesinet’s service.

By Kristha Abores, Research Associate

About Pesinet:

Based in France, Pesinet is a nonprofit that uses mobile technology to provide regular health checkups and affordable health insurance for young children in Mali. As of December 2011, the programme has roughly 600 children from the Bamako Coura neighbourhood in Bamako, Mali. Financial information on Pesinet is not available.

Sources and Additional Resources:

[1] “Pesinet: Mobile Monitoring and Micro-Insurance for Children in Mali,” http://www.mobileactive.org/pesinet-child-health-monitoring-and-micro-insurance

MicroCapital.org article, September 27, 2011, “MICROCAPITAL BRIEF: MicroEnsure to Offer Microinsurance in Kenya Using M-Pesa, FrontlineSMS:Credit Technology,” http://www.microcapital.org/microcapital-brief-microensure-to-offer-microinsurance-in-kenya-using-m-pesa-frontlinesmscredit-technology/

MicroCapital.org article, April 19, 2011, “MICROCAPITAL BRIEF: Mobile Telecommunications Network (MTN) Ghana, Hollard Insurance, Mobile Financial Services (MFS) Africa, MicroEnsure Pilot “mi-Life” Mobile Money Insurance Product in Ghana,” http://www.microcapital.org/microcapital-brief-mobile-telecommunications-network-mtn-ghana-hollard-insurance-mobile-financial-services-mfs-africa-microensure-pilot-%E2%80%9Cmi-life%E2%80%9D-mobile-money-insurance-product/

MicroCapital Universe Profile: Pesinet, http://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Pesinet

Browse the MicroCapital Universe and add your entry to the wiki at: http://www.microcapital.org/microfinanceuniverse/

MICROCAPITAL BRIEF: Insurer Mongeral Aegon, Microfinance Institution Finsol Team Up to Sell Microinsurance in Brazil

Kristha Abores — Thu, 12 Jan 2012 07:35:02 +0000

Brazilian insurance company Mongeral Aegon reportedly has partnered with microfinance institution Finsol to begin selling microinsurance policies in January 2012 [1]. Details on the terms and pricing of the policies to be offered are not available.

Mongeral Aegon is a joint venture between Aegon, a Dutch insurance group, and Mongeral, a Brazilian company involved in the insurance and pension markets. As of 2010, Mongeral Aegon reported total assets of BRL 382 million (USD 212 million), approximately 214,900 clients and BRL 362 million (USD 201 million) in premiums collected from January to December 2010 [2]. The company has signed a number of distribution partnerships in 2011 and has opened 20 new points of sale. The strategy reportedly resulted in a 13 percent growth in new clients and a 20 percent increase in revenue for 2011 [1].

Founded in 2006, Instituto Finsol Brazil is a microfinance institution (MFI) based in Recife, Brazil. In 2010, it was acquired by Mexican MFI Financiera Independencia. For the nine months ending September 30, 2011, Finsol Brazil reported a net loss of MXN 70.4 million (USD 5.18 million), net operating revenues of MXN 51.9 million (USD 3.82 million) and interest income of MXN 180 million (USD 13.2 million).

By Kristha Abores, Research Associate

About Mongeral Aegon: Mongeral Aegon is a joint venture between Aegon, a Dutch insurance group, and Mongeral, a Brazilian company involved in the insurance and pension markets. As of 2010, Mongeral Aegon reported total assets of BRL 382 million (USD 212 million), approximately 214,900 clients and BRL 362 million (USD 201 million) in premiums collected from January to December 2010.

About Instituto Finsol: Founded in 2006, Instituto Finsol Brazil is a microfinance institution (MFI) based in Recife, Brazil. In 2010, it was acquired by Mexican MFI Financiera Independencia. For the nine months ending September 30, 2011, Finsol Brazil reported a net loss of MXN 70.4 million (USD 5.18 million), net operating revenues of MXN 51.9 million (USD 3.82 million) and interest income of MXN 180 million (USD 13.2 million)

Sources and Additional Resources:

[1] “Mongeral Aegon teaming up with Finsol to sell microinsurance policies,” http://www.bnamericas.com/news/insurance/mongeral-aegon-teaming-up-with-…

[2] “Mongeral Aegon,” http://www.aegonins.com/Company.aspx?co=MNGRL

MicroCapital.org article, March 1, 2010, “MICROCAPITAL BRIEF: Mexican Microfinance Institution (MFI) Financiera Independencia Closes $41m Acquisition of Financiera Finsol,” http://www.microcapital.org/microcapital-brief-mexican-microfinance-inst…

MicroCapital Universe Profile: Mongeral Aegon, http://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Mongeral+Aegon

MicroCapital Universe Profile: Instituto Finsol, http://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Ins…

Browse the MicroCapital Universe and add your entry to the wiki at: http://www.microcapital.org/microfinanceuniverse/

MICROCAPITAL BRIEF: Philippine Central Bank, Bangko Sentral ng Pilipinas (BSP), Issues Microinsurance Licenses to Bangko Mabuhay, Mallig Plains Rural Bank

Nisha Koul — Tue, 10 Jan 2012 15:18:50 +0000

Bangko Sentral ng Pilipinas (BSP), the Philippine central bank, has issued licenses to two rural banks, Bangko Mabuhay and Mallig Plains Rural Bank Incorporated, allowing them to provide microinsurance services [1]. As per government requirements, the microinsurance products that the banks will provide are designed so that the cost of the policies will not exceed five percent of the current daily minimum wage of PHP 420 (USD 9.60). The guaranteed benefits will not exceed 500 times the daily minimum wage.

BSP reports that there are currently 50 other rural banks in the process of applying for a “provisional license” to sell microinsurance.

As of 2010, Mallig Plains Rural Bank reported to the US-based nonprofit Microfinance Information Exchange (MIX) total assets of USD 11.5 million, a gross loan portfolio of USD 8 million, approximately 22,600 borrowers, return on assets (ROA) of 0.68 percent and return on equity (ROE) of 3.66 percent. Financial details on Bangko Mabuhay are not available.

By Nisha Koul, Research Associate

About Bangko Mabuhay: Bangko Mabuhay, a financial institution established in 1972 in Philippines, aims to provide opportunities for low-income households to expand their livelihood activities and increase their incomes. Bangko Mabuhay also has a particular focus on assisting family-owned and operated microenterprises. Financial data on the firm are not available.

About Mallig Plains Rural Bank (Isabela) Incorporated: The mission of Mallig Plains Rural Bank, a financial institution in Philippines, is focused on the development of income-generating and job-creating microenterprises through the provision of loans. As of 2010, Mallig Plains Rural Bank reported to the US-based nonprofit Microfinance Information Exchange (MIX) total assets of USD 11.5 million, a gross loan portfolio of USD 8 million, approximately 22,600 borrowers, return on assets (ROA) of 0.68 percent and return on equity (ROE) of 3.66 percent.

About Bangko Sentral ng Pilipinas (BSP): Bangko Sentral ng Pilipinas (BSP) is the central bank of the Republic of the Philippines. Established under the provisions of the New Central Bank Act of 1993, BSP is headquartered in Manila and has three regional offices performing cash operations and eighteen branch offices. BSP participates in various advocacy programs concerning microfinance, financial education and consumer protection.

Sources and Additional Resources:

[1] Bangko Sentral ng Pilipinas Press Release, BSP Grants Microinsurance License to Two Rural Banks, http://www.bsp.gov.ph/publications/media.asp?id=2769

MicroCapital.org story, December 12, 2011, “MICROCAPITAL BRIEF: Philippine Central Bank May Raise Microfinance Loan Ceiling, Roll Out Central Credit Information Corporation (CCIC) by Year End,” http://www.microcapital.org/microcapital-brief-philippine-central-bank-may-raise-microfinance-loan-ceiling-roll-out-central-credit-information-corporation-ccic-by-year-end/

MicroCapital.org story, November 7, 2011, “MICROCAPITAL BRIEF: Bangko Sentral ng Pilipinas: Filipino Microfinance Borrowing Increases to $170m,” http://www.microcapital.org/microcapital-brief-bangko-sentral-ng-pilipinas-filipino-microfinance-borrowing-increases-to-170m/

MicroCapital Universe Profile: Bangko Mabuhay, http://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Bangko+Mabuhay

MicroCapital Universe Profile: Mallig Plains Rural Bank (Isabela) Incorporated, http://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Mallig+Plains+Rural+Bank+%28Isabela%29+Incorporated

MicroCapital Universe Profile: Bangko Sentral ng Pilipinas, http://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Bangko+Sentral+ng+Pilipinas+%28BSP%29

Browse the MicroCapital Universe and add your entry to the wiki at http://www.microcapital.org/microfinanceuniverse/

MICROCAPITAL BRIEF: Groupe Provoir Launches Prevoir Kampuchea Micro-life Insurance in Cambodia

Ariana Malushi — Fri, 16 Dec 2011 22:28:43 +0000

Prevoir Kampuchea Micro-life Insurance Public Limited Company (PKMI), a subsidiary of French insurer Groupe Prevoir, has been launched in Cambodia after receiving an operating license from the Ministry of Economy and Finance. Its goal is to develop insurance products for low- and medium-income earners. PKMI so far has partnered with one unnamed Cambodian Microfinance Institution (MFI) and is currently in negotiations with other microfinance players, as well as NGOs and banks.

Groupe Prevoir, an independent insurance group that specializes in life insurance, was first established in 1910, and operates in France, Portugal, Poland, Vietnam, Brazil and now Cambodia. As of 2010, the firm reports writing premiums totaling EUR 478 million (USD 628 million).

About Prevoir Kampuchea Micro-life Insurance:
Established in 2011 in Cambodia, Prevoir Kampuchea Micro-life Insurance is a subsidiary of Group Prevoir, a French insurance group. Its aim is to offer insurance to products for low- and medium-income earners. No financial data is available on the organization as of 2011.

By Ariana Malushi, Research Associate

Sources and Additional Resources:

The Phnom Penh Post: “First micro-insurer launches in Kingdom”
http://www.phnompenhpost.com/index.php?option=com_jomcomment&task=trackback&id=53191&opt=com_content

Wikipedia: Groupe Prévoir
http://fr.wikipedia.org/wiki/Groupe_Prévoir

MicroCapital.org Story, November 21, 2011 “MICROCAPITAL BRIEF: Grameen Crédit Agricole Microfinance Foundation Lends $2m to Microfinance Institutions Hekima of Congo; Findev of Azerbaijan; Chamroeun, TPC of Cambodia” http://www.microcapital.org/microcapital-brief-grameen-credit-agricole-microfinance-foundation-lends-2m-to-microfinance-institutions-hekima-of-congo-findev-of-azerbaijan-chamroeun-tpc-of-cambodia/

MicroCapital.org Story, September 10, 2011 “MICROCAPITAL BRIEF: responsAbility Invests $13.5m in Microfinance Institutions (MFIs) VisionFund Cambodia, Equity Bank of Kenya”
http://www.microcapital.org/microcapital-brief-resposnability-invests-13-5m-in-microfinance-institutions-mfis-visionfund-cambodia-equity-bank-of-kenya/

MicroCapital Universe Profile: Prevoir Kampuchea Micro-life Insurance (PKMI)
http://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=+Prevoir+Kampuchea+Micro-life+Insurance

Browse the MicroCapital Universe and add your entry to the wiki at http://www.microcapital.org/microfinanceuniverse/

MICROCAPITAL BRIEF: Securities and Exchange Commission of Pakistan (SECP) to Launch Microinsurance Regulatory Framework by June 2012

Kristha Abores — Mon, 12 Dec 2011 06:18:04 +0000

The Securities and Exchange Commission of Pakistan (SECP), an autonomous body whose purpose is to develop the corporate sector in the country, will reportedly launch a microinsurance regulatory framework by June 2012. Muhammad Asif Arif, Commissioner of SECP’s Insurance Division was quoted as having said, “We are working to prepare draft rules on microinsurance in consultation with the stakeholders.” Mr Arif added that the effort has been supported by the World Bank.

SECP’s goal is to ensure that all people have proper and affordable insurance coverage that could support them in case of a natural disaster. The insurance industry in Pakistan reportedly amounts to 0.7 percent of GDP, a number that the initiative intends to double to 1.4 percent in the next three years by creating a transparent and enabling environment.

By Kristha Abores, Research Associate

Sources and Additional Resources:

[1] “’Microinsurance must for poverty alleviation’: SECP to launch regulatory framework by June 2012,” http://www.brecorder.com/market-data/stocks-a-bonds/single/636/0/1256391…

MicroCapital.org article, April 22, 2010, “MICROCAPITAL BRIEF: Pakistan Looking to Microinsurance to Increase Insurance Penetration in the Country,”http://www.microcapital.org/microcapital-brief-pakistan-looking-to-micro…

MicroCapital.org article, January 19, 2011, “MICROCAPITAL BRIEF: Pakistani Microinsurance Providers Unveil Draft Regulation to Help Growth of Industry,” http://www.microcapital.org/microcapital-brief-pakistani-microinsurance-…

Browse the MicroCapital Universe and add your entry to the wiki at: http://www.microcapital.org/microfinanceuniverse/

MICROCAPITAL BRIEF: Microinsurance Innovation Facility (MIF) Accepting Applications for Africa-Based Fellowships Until November 30, 2011

Kristha Abores — Tue, 15 Nov 2011 06:23:43 +0000

Four microinsurance fellowship positions based in Africa have been made available through the Microinsurance Innovation Facility of the United Nations’ International Labour Organization (ILO). The fellowship program seeks to develop microinsurance professionals by providing onsite experience with the guidance of mentors.

The South Africa-based Centre for Financial Regulation and Inclusion (Cenfri), a research and capacity-building organization focusing on financial inclusion including general and microinsurance, is looking for a fellow who will support the development and implementation of its knowledge management and training strategy.

The Hygeia Community Health Plan (HCHP), a Nigeria-based nonprofit that provides access to medical care for uninsured people, is looking for a fellow to support the evaluation of sales initiatives and the improvement of marketing methodologies.

Ghana-based Star Micro, which offers funeral, child education and credit life coverage to low-income households, is looking for a fellow to support the operation manager in evaluating and improving processes.

Kenya Orient Insurance Limited (KOIL), a private insurance company based in Nairobi, is looking for a fellow to assist in the implementation of its microinsurance strategy, particularly in conducting a needs assessment among the target population and developing and monitoring microinsurance products and processes.

Information about the fellowship programme is available at http://www.ilo.org/public/english/employment/mifacility/activities/ccb/fellowship.htm.

The fellowship application and information about the organizations participating in the fellowship programme are available at http://www.ilo.org/public/english/employment/mifacility/activities/ccb/opportunities.htm.

By Kristha Abores, Research Associate

About Microinsurance Innovation Facility (MIF):
Launched in 2008 with a USD 34 million grant from the Bill & Melinda Gates Foundation, the Microinsurance Innovation Facility (MIF) is housed at the International Labour Organization’s (ILO’s) Social Finance Programme. MIF’s goal is to increase the availability of insurance for low-income families in developing countries to help them overcome poverty. MIF provides grants to help organizations develop innovative microinsurance products, with an emphasis on agriculture, health, life and property insurance. MIF also provides technical assistance and advice. ILO is an agency of the United Nations.

About International Labour Organization (ILO):
Founded in 1919, the International Labour Organization (ILO), is an agency of the United Nations, an organization promoting peace and improved living standards. The objective of ILO is to advance opportunities for men and women to obtain productive work in conditions of freedom, equity, security and human dignity. Its founding mission is that labor peace is critical to prosperity.

Sources and Additional Resources:

[1] International Labor Organization website: “Microinsurance Innovation Facility: Opportunities,” http://www.ilo.org/public/english/employment/mifacility/activities/ccb/opportunities.htm?utm_source=Microlinks&utm_medium=blog&utm_campaign=bcoutreach

[2] International Labor Organization website: “Microinsurance Innovation Facility: Fellowship Programme,” http://www.ilo.org/public/english/employment/mifacility/activities/ccb/fellowship.htm?utm_source=Microlinks&utm_medium=blog&utm_campaign=bcoutreach

MicroCapital.org article, March 18, 2011, “MICROCAPITAL BRIEF: Microinsurance Innovation Facility (MIF) of the International Labor Organization (ILO) Accepting Applications for Fellowship Until March 31, 2011,” http://www.microcapital.org/microcapital-brief-microinsurance-innovation-facility-mif-of-the-international-labor-organization-ilo-accepting-applications-for-fellowship-until-march-31-2011/

MicroCapital Universe Profile: Microinsurance Innovation Facility, http://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Microinsurance+Innovation+Facility+%28MIF%29

MicroCapital Universe Profile: International Labour Organization (ILO), http://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=International+Labour+Organization+%28ILO%29

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