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Microinsurance Breakout, Mazen Nimri, Jordan Insurance Company
Microinsurance Breakout, Mazen Nimri, Jordan Insurance Company
Microinsurance Breakout, Mazen Nimri, Jordan Insurance Company
Microinsurance Breakout, Mazen Nimri, Jordan Insurance Company
Microinsurance Breakout, Mazen Nimri, Jordan Insurance Company
Microinsurance Breakout, Mazen Nimri, Jordan Insurance Company
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Microinsurance Breakout, Mazen Nimri, Jordan Insurance Company

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Published in: Economy & Finance, Business
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Transcript

  • 1. Microinsurance The Jordanian Experience
  • 2. Microinsurance • Strategic Partnership with MFW • • • • Trust Transparency Commitment Utmost good faith • Risk Transfer Mechanism • JIC covers the loan plus an additional amount in case of death/disability • Sustainability of the MFW operations • Social Participation • Commitment to elevating social standards • Economic Support • Support the community and economy
  • 3. Microinsurance • New Market Segment Penetration • Non-conventional target market • New Experience • Wealth of knowledge • New Products • Different Procedures • Profits / Pricing? • High Loss ratios • Price adjustments based on experience • Benefits enhancements (Spouse Insurance) • Sponsorships • • • • Very Important for spreading insurance awareness Radio + TV Ads Brochures and Flyers
  • 4. Procedures • Very minimal procedures • • • • No Underwriting – experience driven Efficient Premium collections Speedy Claims Settlements Easy Accounts reconciliation • Claims Authority Transfer to MFW • • • • Efficiency Accuracy Popper follow up Valued Partnership - Trust
  • 5. Riaya : Hospital Cash • Compulsory Insurance • Cash indemnity upon staying in hospital • Maximum Number of nights per stay / Per Year • Challenges • Product Awareness • Amount of indemnity • Pricing • Claims Handling Riaya Statistics from 2010 to 2013. • Medical Reports • Hospital Follow up • Date of Entry and discharge • Fraud !!
  • 6. We Keep Our Promise Thank You

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