“Invisible Giants;” by Lindsay Levin; published by Vala Publishing; March 2013; 176 pages, available for purchase at: http://vala.wazala.com/?page=product_det&id=112381
This book was written by Lindsay Levin, the founder and managing partner of Leaders’ Quest, a UK-based for-profit social enterprise that aims to improve the impact of global leaders by integrating “social purpose and company performance.” The book examines leaders from different walks of life including Anwari Khan, a poor woman in Asia who trains local police on reacting to domestic violence, and Yan Xin, who manages an environmental NGO in South Asia. The book focuses on grassroots leaders that “strive to integrate purpose alongside profit, in the face of resistance” and what responsibilities the author believes businesses have regarding “poverty, sustainability, [and] religious and political conflict.”
“Doing the Math – Life Microinsurance in Mexico;” by Derek Poulton and Barbara Magnoni; published by the Microinsurance Centre; October 2012; 11 pages; available at: http://www.microinsurancecentre.org/resources/documents/doc_details/938-milk-brief-16-qdoing-the-mathq-life-microinsurance-in-mexico.html
This document reviews the life microinsurance products offered by Compartamos, a Mexican microfinance bank. Compartamos includes life insurance with its Credito Mujer loans, which disburses loans of USD 2,500 to USD 30,000 to women in groups of ten to 50 people. Clients accessing other Compartamos products also may purchase life insurance on a voluntary “unbundled” basis. Both types of insurance from Compartamos provide a cash payout to a borrower’s beneficiary in the event of a borrower’s death, if it occurs “during the 16-week loan cycle or a three-week grace period immediately after the end of the loan cycle.” The study indicated that the insurance was generally used to pay for funeral costs, with any remaining money used as savings or to make up for losses or replace the deceased person’s income. According to the authors, the claims were paid quickly although a portion of the proceeds were used by most clients to repay interest-free loans borrowed from family and friends immediately after the death of the insured. The study also found that households that lost a family member and did not have insurance sometimes took out high-interest loans, liquidated savings or sold assets to pay for the funeral. The authors conclude that there is a large market for funeral and life microinsurance in Mexico that has not yet been filled.
“Microfinance India: The Social Performance Report 2012;” by Girija Srinivasan; published by Sage Publications; 152 pages; available for purchase at: http://www.sagepub.in/Web2012/SPM2012.htm
This report summarizes the state of microfinance in India in 2012, with a particular focus on social performance and “responsible” finance. The document discusses how different providers and stakeholders are attempting to improve client protection and overall client welfare in the country. The authors examine existing financial products as well as those that are in the testing stages. Finally, the report reviews research studies on India and covers the developments following the crisis in the microfinance sector in the state of Andhra Pradesh 2010.
Sources and Additional Resources:
Information sent to MicroCapital by Leader’s Quest.
“Invisible Giants by Linsday Levin,” http://www.valapublishers.coop/invisiblegiants
“Doing the Math – Life Microinsurance in Mexico,” http://www.microinsurancecentre.org/resources/documents/doc_details/938-milk-brief-16-qdoing-the-mathq-life-microinsurance-in-mexico.html
“Microfinance India: The Social Performance Report 2012,” http://www.sagepub.in/Web2012/SPM2012.htm
MicroCapital.org story, February 23, 2013, “MICROFINANCE PAPER WRAP-UP: ‘Microinsurance Product Development for Microinsurance Providers;’ by Michael J. McCord; published by Microfinance Centre, Microinsurance Centre, International Fund for Agricultural Development,” https://www.microcapital.org/microfinance-paper-wrap-up-microinsurance-product-development-for-microinsurance-providers-by-michael-j-mccord-published-by-microfinance-centre-microinsurance-centre-internatio/
MicroCapital.org story, February 25, 2013, “MICROCAPITAL BRIEF: Reserve Bank of India (RBI) May Consider Raising Margin Cap on Microloans if MFIs Relinquish Priority-Sector Status,” https://www.microcapital.org/microcapital-brief-reserve-bank-of-india-rbi-may-consider-raising-margin-cap-on-microloans-if-mfis-relinquish-priority-sector-status/
MicroCapital Universe Profile: The Microinsurance Centre
http://microcapital.org/microfinanceuniverse/tiki-index.php?page=The+Microinsurance+Centre
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