Key decision points in choosing partner-insurer✓ beneﬁts are tailor-ﬁt according to ✓ claims paid withinclients’ needs 5 days or less upon submission of✓ features (such as requirementsinclusion of family Product- Quality Delivery members) are ✓ instant abuloy iscomparable to what Market given within 24 hours upon Fitthe competitionoffers notiﬁcation of death ✓ minimal Pricerequirements ✓ very affordable for clients ✓ ﬂexible pricing (per unit)
Key decision points in choosing partner-insurer Appropriate Organizational Aligned Vision - Mission Structure✓ providing products and services for ✓ dedicated unit for microinsuranceindividuals and families in the countryside
SufﬁcientClose coordination knowledge of the Mutual trustbetween bank and market being between two parties partner-insurer served What makes the successful?
Beneﬁts for banks offering microinsurance✓ Competitive advantage✓ Client retention ✓ Commission income
Microinsurance for Bangko Kabayan ClientsNumber of insured microﬁnance clients! 2009 5500 2010 5600 2011 6783 1000 2000 3000 4000 5000 6000 7000 8000 128 medical reimbursements 96 death claims Php 189,518.11 total amount claimed Php 4.08 M total amount claimed