1. Developing and Managing Microinsurance
Products & Partners
Geric Laude
Pioneer Life
2010 RBAP‐MABS Na.onal Roundtable Conference
Hya= Hotel and Casino, Manila
June 3, 2010

2. Developing and Managing
Microinsurance Products & Partners
Geric G. Laude
Microinsurance Champion
Pioneer Group of Insurance Companies
6/2/10

3. Common Partnership Factors
Innovations in microinsurance promotion and
service delivery that commercial insurers can offer
The important lessons learned in marketing
microinsurance services, and what rural bankers
can do to prepare for these
6/2/10

4. Defining Microinsurance
The development of Microinsurance
• Marketing to the base of the economic pyramid
• The rise of microfinancing
• The limitations of traditional insurance
Microinsurance
6/2/10

5. Programs that do not fit the requirements of the
market
Claims (non)settlement that fall short of the
expectation
Insurers’ sit-behind-the-desk-with-remote-control
approach to microinsurance
Limitations of TRADITIONAL
Insurance
6/2/10

6. Culture & Mindset
• Similarity of cultures and mindsets
• Willing to invest in the relationship
• A long term investment
Important Partnership Factors
6/2/10

7. Organizational Structure
Is the partner organized to adequately respond to the current and
ever-evolving requirements of microinsurance?
Important Partnership Factors
6/2/10

8. Promotion
• Assist in the development of marketing related programs
• ith enough experience, take the lead in the conduct of
W
researches, studies and testings
Service Delivery
• Willingness to constantly improve and innovate
• Streamline and simplify product access and delivery, as well as the
claims process and requirements
Innovations in Microinsurance
Promotion and Service Delivery that
Insurance Providers Can Offer
6/2/10

9. • The rules of traditional insurance do not necessarily
apply to microinsurance
• Microinsurance should be easy
• The ideal Microinsurance product: Reasonable exclusions
for coverage
• Proper information management is important
• The market is willing to pay premium for a good program
Lessons Learned in Marketing
Microinsurance
6/2/10

10. • The RBs should be co-owners of the program
• There is a necessary investment in doing microinsurance,
but the benefits far outweigh the cost
• The culture, mindset, and the whole organization should
be ready for microinsurance
• Choose the right partner, and be willing to grow with this
partner
What Can the Rural Banks Do?
6/2/10

11. Thank You!
Geric G. Laude
Microinsurance Champion
Pioneer Group of Insurance Companies
0917-5355447, (032) 238-7777, (02) 812-7777
6/2/10