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Microinsurance: Guarding the poor from falling

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Mr. Ferdinand Sia illustrates the impact of microinsurance to a rural bank client during the 2012 RBAP-MABS National Roundtable Conference on June 8.

Published in: Economy & Finance, Business
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Microinsurance: Guarding the poor from falling

  1. 1. Session 7: Transforming MI from Service to Business An Introduction Ferdinand Sia Chemonics International 2012 RBAP-MABS National Roundtable Conference June 7-8, 2012 Hyatt Hotel & Manila
  2. 2. Microinsurance:Guarding the poor from falling 2
  3. 3. Ermie peddles banana-que and bicho bicho to raise her two small children 3
  4. 4. Life was better when her husband was helping the family 4
  5. 5. But the unexpected happened… 5
  6. 6. Without Microinsurance, Ermie would incur unmanageable debt to pay for funeral and other emergency expenses P20,000 P10,000 Death of Spouse P0 Childbirth Treatment of -P10,000 pneumonia -P20,000 In debt for 3 yearsDebt -P30,000 Risks of unmanageable debt: 1. Critical illness left untreated 2. Children’s schooling disrupted Poverty cycle would likely continue 6
  7. 7. With Microinsurance, Ermie did not incur unmanageable debt and continued to raise children without disruption P20,000 P10,000 Death of Spouse P0 MICROINSURANCE Childbirth Treatment of -P10,000 pneumonia -P20,000 In debt for 3 yearsDebt -P30,000 Freedom from unmanageable debt: 1. Illnesses treated properly 2. Children continue schooling Higher chance of escaping poverty 7
  8. 8. The RBAP-MABS Microinsurance Initiative Guarding the poor from falling 8

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