16 August 2017, Issue 09


A Newsletter on Inclusive Insurance

In this issue:

  • Opening of online registration for MEFIN PPD3 and Round Table Meeting for MI Roadmap for APEC Emerging Economies
  • MI initiatiatives in the seven (7) MEFIN countries
  • Partnerships towards promoting inclusive insurance

Don’t you know...

That the 3rd MEFIN Public Private Dialogue (PPD3) will be conducted in Ulaanbaatar, Mongolia, focusing on insurance for small and medium industries? To join, register at the MEFIN website.

That the process of crafting the Microinsurance Roadmap for the emerging economies in Asia-Pacific is ongoing and a round table meeting is set, back to back with the Microinsurance Summit in Lima, Peru? To register, please visit RFPI website.

Industry News

OJK, a member of the MEFIN Network, hosted the International Seminar on Indonesia’s Microinsurance Marketplace where regulatory practices (ie Financial Inclusion Strategy of Indonesia) and business models (ie village-level distribution of insurance) were shared. Visit PASMINA event page for more details.

Mongolia will host the 3rd MEFIN PPD and MEFIN Organizational Meeting on 19 to 21 September 2017. Right after the PPD, Disaster Risk Insurance Manual (DRIM) will be introduced to stakeholders in insurance, disaster risk management and MSMEs.

Nepal launched the Microinsurance Risk Pool. In this mechanism, a lead insurer is appointed and all general insurers share the risk in all acquired business. For now, the pool applies to General Insurance companies only.

EFU Life will kick off in Karachi a country-wide training of retailers as MI agents. This is in the work plan under the cooperation agreement between EFU Life and GIZ RFPI Asia II, secretariat to the MEFIN Network.

Jimmy Loro, of GIZ RFPI Asia, discussed the impact of climate change on agriculture during the 2017 Ready : Disaster Resiliency Forum in Manila, Philippines organized by Cebuana Lhuillier Insurance Solutions (CLIS) last 09 August 2017. Check out Conferences and Reports in the MEFIN Website.

After conducting the study, The Landscape of Microinsurance in Sri Lanka 2016, ISBL is currently working again with World Bank to draft a legislation that would enable the microinsurers to function as a separate entity under the current regulations.

GIZ RFPI Asia, in partnership with IPSARD, the think tank of Ministry of Agriculture and Rural Development (MARD) in Vietnam will conduct a workshop to conceptualize a new agriculture insurance program for Vietnam, building on the lessons learnt from the assessment of its National Agriculture Insurance Pilot Program (NAIPP). The workshop will be held on 07 September 2017 in Ha Noi, Vietnam.

The Microinsurance Roadmap (MIR) for Asia-Pacific Emerging Economies (APEC), initially drafted during the MEFIN PPD2 in Hanoi, Vietnam in March 2017, is now an attachment to the Asia Pacific Financial Forum (APFF) 2017 Progress Report to the APEC Finance Ministers. Dante Portula, representing the MEFIN secretariat, joined the APFF Report Drafting Session on 18 July 2017 in Singapore.

The opportunity to restart and rebuild should be one that is available to everyone—it should not be limited to only those who can afford it or have the means to access it. This is one of the primary reasons why we are here today—bound by a common desire to enable those who need insurance the most but who often can neither afford nor understand it—to access it and enjoy the benefits insurance brings”

Mr Lorenzo Chan, Jr, President and CEO, CARD Pioneer Microinsurance, Inc during the launch of MEFIN, Inc on 14 July 2017 in Manila

Updates for MEFIN Members

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