breakout microinsurance, fatina abu okab, microfund for women
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TRANSCRIPT
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November 18th, 2013
Micro-insurance Programs Himaya & Ri’aya
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Indicators as of Oct. 2013
•45
No. of branches
•441 (70% ♀)
No. of staff
•251 (79% ♀)
No. of loan officers
•97,750
No. of active clients
•43.3 US$
Portfolio (In millions)
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Services Offered as of Sep. 2013
•Group & Individual loans
Credit Financial Services
•Microinsurance
Non-Credit Financial Services
•Capacity Building & Training
•Market Linkages + social services
•Rewards & Benefits
•College Scholarships
Non- Financial services
•96,992
No. of Insured Clients-Himaya (Credit life)
•76,623
No. of Insured Spouses
•92,292
No. of insured Ri’aya (Caregiver)
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Credit Life - HimayaDeath
Spouse’s death
Total disability
Partial disability
Up to 3 times loan
amount
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Caregiver – Ri’aya
No pre-medical exams
Up to 48 nights/ loan period
Affordable Premium
Minimal Exclusions
21 $/ night spent
@ Hospita
l
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Why MFIs & Microinsurance?
Risk management tool to reduce the vulnerability
of lower income clients
Improve the ability of clients to repay their loans
Help MFIs improve retention and attract new
clients
Contributes to MFI’s Commercial and Social
agenda
In April 2009 MFW/ WWB applied for an ILO grant
to launch an insurance product that would enable
our clients to better cope with financial burdens
associated with medical emergencies
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Public72%
Military20%
Private8%
Hospital Type
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KPIs Monitored
Number of insured
Number of claims
Number of rejected loans
Expense ratio
Claims ratio
Coverage ratio
Claims frequency
Hospital stay length
Claim processing duration
Claim rejection ratio
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Win – Win – Win … How?
MFI
Client
Insurer
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Key Messages
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Key Messages
Develop the product for the right reason
(serving your client)
Use pilot program to validate the product
Keep a close eye on your indicators Keep it simple
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Thank you