Partners in Community Development in Fiji (PCDF), a Fiji-based nongovernmental organization (NGO), and the Life Insurance Corporation of India (LICI), a state-owned insurance group based in India, reportedly have launched a microinsurance project in Urata Village, Fiji. The product is designed to cover life, accidents and funeral expenses. The lowest coverage level insures a client’s life for USD 1000 for USD 15 per year. The project is a pilot program and is expected to start accepting customers in July. If successful, the program is expected to be expanded to other villages in the region. PCDF personnel are currently educating residents of Urata Village on the scheme.
Financial data on the PCDF is not available. For the year 2010, LICI reported total assets of USD 264 billion.
By Brendan Millan, Research Associate
About Partners in Community Development in Fiji (PCDF): Established in 1978, PCDF is a nongovernmental community development organization based in Fiji. The main goals of PCDF include preserving coral reefs, addressing rural poverty and providing reliable water supply systems. Financial data on the organization is not available.
About Life Insurance Corporation of India (LICI): Established in 1956, LICI is a state-owned insurance group based in India. For the year 2010, LICI reported total assets of USD 264 billion.
Sources and Resources:
[1] The FijiTimes: “Insurance for Village” by Salaseini Vosamana. http://www.fijitimes.com/story.aspx?id=201510
MicroCapital.org story, February 21, 2012, “MICROCAPITAL BRIEF: Financial Literacy Session Promote Savings in Fiji,” https://www.microcapital.org/microcapital-brief-financial-literacy-sessions-promote-savings-in-fiji/#more-17087
MicroCapital.org story, April 1, 2011, “MICROCAPITAL BRIEF: Reserve Bank of Fijito Take Microfinance “Expos” to RuralIslands”, https://www.microcapital.org/microcapital-brief-reserve-bank-of-fiji-to-take-microfinance-expos-to-rural-islands/
MicroCapital Universe Profile: Partners in Community Development in Fiji (PCDF), https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Partners+in+Community+Development+in+Fiji+%28PCDF%29
Browse the MicroCapital Universe and add your entry to the wiki at: https://www.microcapital.org/microfinanceuniverse/
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