29 March 2017, Issue 04

MEFINews

A Newsletter on Inclusive Insurance


In this issue:


  • What are the highlights of the inclusive insurance event in Hanoi on 14 to 16 March 2017?
  • Can the presentations and photos be accessed online?
  • What are the latest updates on inclusive insurance in Asia? New studies? Good practices?

Don’t you know...

That the 68 participants who attended the Inclusive Insurance Asia PPD and Microinsurance Learning Sessions held on 15 and 16 March 2017 in Hanoi, Vietnam came from 14 different countries? Click here for photo gallery.

That the business models discussed during the three panels of public private dialogue can all be accessed in the MEFIN website in 2-page factsheet format? Click here to access factsheets.

That the presentations of different experts on inclusive insurance who shared their experiences are accessible online? Visit MEFIN website to access

Industry News

In October last year, Allianz Indonesia launched the SEKOCI, a voluntary term-life product. To enhance product access, Allianz partnered with telecom provider Indosat Ooredoo’s Dompetku e-money service. Click here to read more

With the MEFIN network’s support and continuous capacity building measures of FRC staff and the PPD interventions, the Resolution 407 has been approved by the FRC defining what is inclusive insurance (Article 2.1.4) and specifying requirements for registering II products (Article 6.1.8). Copy of the resolution is uploaded under Regulatory Documents in the MEFIN website. Two companies have designed and launched inclusive insurance products, enabled by this resolution. Check MEFIN website for factsheets.

In 2014, the Beema Samiti pre-approved 7 standard MI products. Shikhar responded by offering two MI products targeted to farmers and their families who are policy holders of Shikhar’s agriculture insurance nd (SMEs) who are already clients of a bank where Shikhar has an existing banc assurance arrangement. To read on these new products, check the factsheet on the two business models in the MEFIN website.

A multi-stakeholder dialogue on Microinsurance was held in Islamabad in August 2016 to consult various sectors on strategic framework for MI development in Pakistan. Pakistan is now currently doing consultations for a new MI bill. For details on the MSD, final report is available at the MEFIN website.

Potential members signified interest to join the MEFIN Network during the “Disaster Preparedness and the Power of Local Leadership International Forum” held last 09 to 10 March 2017 at the AIM Conference Center in Makati City, Philippines. The Network, through its secretariat, GIZ RFPI Asia II, exhibited the different knowledge products on inclusive insurance, like Diagnostic Toolkit for Insurance Against Natural Catastrophes for MSMEs in the Agricultural and Mining Sectors, to raise awareness of the participants on importance of risk protection from NatCat. These knowledge product are available at the RFPI Asia II website.

Factsheets on business model based on pilot regulation has been finalized and shared during the PPD and MILs in Hanoi, Vietnam last 15 and 16 March 2017. Read on delivering insurance to women by the Vietnam Women’s Union and through the Community Finance Resource Center at the MEFIN website.

Dr Antonis Malagardis, Program Director of GIZ RFPI Asia II, shared during the ASEAN technical Briefings on Disaster Risk Financing and Insurance in the Philippines lessons learnt .

A key aspect for development of effective micro and mass segment solutions is global collaboration between countries and platforms which provides key learnings amongst insurance players, intermediaries, policy makers and regulators. Access to experiences and best practices on this segment is beneficial for collaborative efforts across the globe and gives rise to new sustainable business models for micro and mass segment.

Muhammad Ali Ahmed, Executive Director/Chief Startegy Officer, Efu Life Pakistan (reason for joining MEFIN Network)

Updates for MEFIN Members

2017 work plans of the MEFIN TWGs are now available at the website. Check updates at MEFIN website members only page.