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CARD MBA experience on its microinsurance program: How can mutual insurance live up to its true potential?
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CARD MBA experience on its microinsurance program: How can mutual insurance live up to its true potential?

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Presentation made by May Dawat (General Manager, CARD MBA, The Philippines) at the 6th ICMIF Development Network Seminar (1-2 November 2012; Nairobi, Kenya)

Presentation made by May Dawat (General Manager, CARD MBA, The Philippines) at the 6th ICMIF Development Network Seminar (1-2 November 2012; Nairobi, Kenya)

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    CARD MBA experience on its microinsurance program: How can mutual insurance live up to its true potential? CARD MBA experience on its microinsurance program: How can mutual insurance live up to its true potential? Presentation Transcript

    • “Todo-todong Benepisyo at Paglaki ng Pondo ay Kayang-kaya How can mutual insurance kung Tayo ay Sama-sama”live up to its true potential? All rights reserved CARD MBA 2012
    • All rights reserved CARD MBA 2012
    • CARD MBA is a member of CARDMutually Reinforcing Institutions All rights reserved CARD MBA 2012
    • The 9 Walls of CARD MRI All rights reserved CARD MBA 2012
    • How can mutual insurance live up to its true potential? All rights reserved CARD MBA 2012
    • How can mutual insurance live up to its true potential?► Focus on the Poorest-women► “The Nanays” are our center of existence► Member’s Meeting Weekly Center ownership All rights reserved CARD MBA 2012
    • How can mutual insurance live up to its true potential?►Value Formation-Group building-Leadership-Responsible Citizenship►Provide microinsuranceproducts and services wheremethodology is appropriateto the members and basedon their needs anddemands. All rights reserved CARD MBA 2012
    • CHALLENGES
    • How can mutual insurance live up to its true potential? ► CARD MRI Networks  Assist in the weekly collection thru Center Meeting  Assist in the Information Education Campaign ► MBA Coordinators  Assist in the claims settlement ► General Membership  CARD MBA is 100% owned by the Members  The Board of Trustees is composed of members elected by the general membership All rights reserved CARD MBA 2012
    • How can mutual insurance live up to its true potential? 1-3-5-day Target Model in Claim’s Settlement 1 If the dead body is not yet buried at the time of validation, the claim must be settled within 24 5 3 hours upon notification. [ On the 5th day upon notification, all claims must If the dead body is be given action with finality. already buried at the time Claims with incomplete of validation and with documents will be given complete documents, the denial letter but still can be claim must be settled settled upon completion of within three days upon required documents thru notification. the letter of reconsideration.This Claim Settlement Model is replicated by at least ten (10) organized groups providing formal or informal microinsurance program to their member-clients All rights reserved CARD MBA 2012
    • How can mutual insurance live up to its true potential? Continuous offering of innovative products and services to level ormove ahead with the increasing competitive market of microinsurance. All rights reserved CARD MBA 2012 All rights reserved CARD MBA 2012
    • How can mutual insurance live up to its true potential? All rights reserved CARD MBA 2012
    • How can mutual insurance live up to its true potential? 1. Reinsurance 2. Crop Insurance  Crop Assistance Program 3. Health Insurance 4. Business Interruption All rights reserved CARD MBA 2012
    • CARD MBA’s TRANSFER OF MBA TECHNOLOGY Build-Operate-And- Transfer ( BOAT) Pro gr am Training of Management and Staff Adopting CARD MBA Operational, MIS & Accounting System Assessment & Monitoring Assistance in putting-up their own MBA All rights reserved CARD MBA 2012
    • How can mutual insurance live up to its true potential? MFI and microinsurance Capacity building staff including MBA for middle and Coordinators are motivated upper management to work with the economically challenge families. All rights reserved CARD MBA 2012
    • How can mutual insurance live up to its true potential? Culture of listening to members’ voices andinnovating to meet their needs All rights reserved CARD MBA 2012
    • •CompetenceHow can •Family-Spirit mutual •Integrityinsurance •Stewarshiplive up to its true •Humilitypotential? •Excellence •Simplicity All rights reserved CARD MBA 2012
    • •CARD MRI DISASTER RELIEFHow can ASSISTANCE PROGRAM mutualinsurance •MASS WEDDINGlive up to its true •SCHOLARSHIP PROGRAMpotential? All rights reserved CARD MBA 2012
    • ►The Insurance Code of the Philippines contains provision on mutual benefit associations (MBAs)How can which is not present in other countries. mutualinsurance ►Built strong relationship and continuouslive up to collaboration with the regulators in terms of policy advocacy and enhancement of products its true and services that fit the needs and demands ofpotential? CARD MBA’s target market. All rights reserved CARD MBA 2012
    • ►CARD MRI assisted in the establishment of RIMANSI so we can share our MBA experienceHow can and together build the microinsurance industry mutual in the Philippines.insurance ► And with the help of Canadian Cooperativelive up to Association (CCA), CARD MRI and Rimansi were able to disseminate the MBA technology in its true Vietnam, Cambodia, Indonesia and other parts ofpotential? Asia. All rights reserved CARD MBA 2012
    • All rights reserved CARD MBA 2012