The Katipunan Bank Experience
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The Katipunan Bank Experience

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Managing Director Zaldy W. Pacificar of Katipunan Bank shares the bank experience on providing microinsurance products and services to their clients during the 2012 RBAP-MABS National Roundtable ...

Managing Director Zaldy W. Pacificar of Katipunan Bank shares the bank experience on providing microinsurance products and services to their clients during the 2012 RBAP-MABS National Roundtable Conference on June 8.

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The Katipunan Bank Experience The Katipunan Bank Experience Presentation Transcript

  • Session  7:            Transforming MI from Service to Business   The  Kapunan  Bank  Experience       Zaldy Pacificar Managing  Director   2012 RBAP-MABS National Roundtable Conference June 7-8, 2012 Hyatt Hotel & Manila  
  • Passing  on  the  risks   Zaldy  Wong  Pacificar  June  8,  2012,  Hya=  Hotel,  Malate,  Manila  
  • Ka@punan  Bank  •  Organized  by  Businessman  Gregorio  P.  Alano  and  his  wife,  Mrs.  Bienvenida  T.   Alano  in  1978  to  provide  Financial  services  in  the  municipality  of  Ka@punan,   Zamboanga  Del  Norte.  •  On  January  29,  1979,  Bangko  Sentral  ng  Pilipinas  (BSP)    authorized  “Rural  Bank   of  Ka@punan  Inc.”  to  open  its  doors  to  the  public  •  Consolidated  with  Plaza  Rural  Bank  of  Carcar,  Cebu  on  2008  •  A[er  consolida@on,  “Rural  Bank  of  Ka@punan  Inc.”  changed  its  name  to   “Ka@punan  Bank  (ZN)  Inc.”  •  Has  more  than  1  billion  resources  as  of  May  31,  2012  •  Has  a  camel’s  ra@ng  of  4  (BSP  Examina@on  for  the  year  2011)  •  Has  more  than  200,000  clients,  42,000  of  whom  are  Microfinance  
  • KB  Mutual  Benefit  Associa@on  Inc.    (KB-­‐MBAI)  •  Approved  by  SEC  on  September  8,  2008  •  Approved  by  IC  on  October  20,  2009  •  Organized  by  Ka@punan  Bank  Inc.  as  its  primary  Microinsurance  provider  •  Offered  Life  insurances  to  KB’s  MI  clients  (Dependents  not  covered)  •  Ini@ally  offered  health  benefits  to  both  the  Principal  &  their  dependents.  •  Stopped  offering  health  benefits  in  2011  due  to  Fraudulent  claims  •  A[er  3  years  of  opera@on,  the  associa@on  is  being  dissolved    
  • The  Lessons  1.)  50%  of  the  premium  the  client  paid  is  returned  as  an  equity  of  the  payor  a[er  resigning  from  the  associa@on.  2.)  Health  insurance  has  high  fraudulent  risks.  3.)  Turnaround  @me  of  processing  claims  is  quick  but  very  costly.  4.)  The  allowable  expense  for  Administra@ve  work  is  not  financially  viable  (IC  only  allowed  25%).  5.)  More  of  a  service  than  a  business.   Microinsurance  is  not  something  that  we,  as  social  entrepreneurs,  can  consider  as   our  core  business.  However,  Kapunan  Bank  acknowledges  its  importance.     Hence,  we  opted  to  pass  on  the  risks.  
  • The  Strategy   Ini@ated  the  comple@on  of   all  Statutory  requirements   Determined  the   Implementa@on   right  Partner   Mapped  out  the  Transi@on   strategy  •  TAT  to  process   •  Compliance   •  Stabiliza@on  •  Financial  Status   •  To  –  be  process   •  Governance  •  Industry  impression   •  People  readiness  •  Market  reach   •  System  readiness  •  Flexibility   •  Risk  mi@ga@on  
  • Our  Partners  Case  Study:   Case  Study:  The  Sendong  Experience  was  the  BOD’s   The  capacity  of  Globe  is  the  BOD’s  deciding  cri@cal  case  study  in  deciding  for  the  right   point.  Hence,  KB  chose  Globe  for  its  partner.     Ka@punero  card.   •  Flexible  to  offer  some  health  benefits   •  Flexible  to  our  terms   •  Flexible  to  Profit  sharing   •  Trained  our  people   •  Quick  to  respond  to  our  needs     •  Quick  to  train  our  people   •  Helped  us  from  Day  1  
  • Commercials   #  of  Clients   KBMBAI   PIONEER   30,000++   PhP  90,000++   Above  PhP  400,000   * KBMBAI amount was computed based on previous agreement * Received by the bank for April 2012
  • Thank you!I welcome your questions later!