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In 2013, the Facility is celebrating five years of pushing the innovation frontiers with a campaign to showcase lessons we've learned on how to make microinsurance work for both providers and clients.
Housed at the International Labour Organization's Social Finance Programme, the Microinsurance Innovation Facility seeks to increase the availability of quality insurance for the developing world's low-income families to help them guard against risk and overcome poverty.
The Facility was launched in 2008 with generous support from the Bill & Melinda Gates Foundation to learn and promote how to extend better insurance to the working poor. Additional funding has gratefully been received from
several donors, including the
Z Zurich Foundation and
AusAID.
Distribution
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Delivering microinsurance to the masses
From mobile networks to supermarkets or churches, insurers are leaving their comfort zone of brokers and microfinance institutions, and getting closer to the everyday lives of their clients. The Facility and its partners have been pushing the frontier of microinsurance distribution for 5 years. To celebrate this milestone the Facility will be showcasing innovations to deliver microinsurance to the masses throughout May.
Webinar: 10th May 2013, 8:30 AM - 9:45 AM BST
Webinar on new opportunities in microinsurance distribution
One of the biggest challenges in microinsurance is delivering low margin, high volume products to the masses. As part of its 5-year celebration, the Facility, in collaboration with Lloyd's, is organizing a live breakfast panel discussion with experts on microinsurance distribution. The discussion will also be webcasted as part of the Facility's webinar series. Please register here.
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Case Brief: Aseguradora Rural - (pdf 1,09 MB)
Miguel Solana, Leticia Gontijo F. Gonçalves and Alice Merry
In 2012 Aseguradora Rural registered the first approved health microinsurance product in Guatemala, sold through its partner, a large, trusted bank network. It has been able to leverage clients' trust in the bank to grow quickly. Now it is tackling the challenge of ensuring understanding and use of the product on an equally large scale.
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Pathways towards greater impact: Better microinsurance models, products and processes for MFIs - (pdf 2,45 MB)
Craig Churchill, Aparna Dalal and Josh Ling, Briefing note nº15
The experiences of innovative microfinance institutions have made it clear that they can provide risk-management services that are valuable for clients and for the institution. This briefing note provides a comprehensive review of the challenges and successes of microfinance institutions and offers ten key recommendations.
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How can a small shop or local hairdresser sell microinsurance?
In Brazil many banks have developed extensive networks of "banking correspondents". These are non-banking outlets, such as shops or hairdressers, which provide banking services on behalf of the bank. Find out about Bradesco's experiments to use this network to sell microinsurance.
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What's new
The Impact of Microinsurance on Asset Accumulation and Human Capital Investments: Evidence from a Drought in Kenya - (pdf 1,89 MB)
Sarah A. Janzen and Michael R. Carter, Research paper nº31
Can insurance reduce the need for households to rely on costly coping strategies that undermine their future productivity? This paper aims to answer this question based on evidence from an index-based drought insurance product for pastoralists in northern Kenya. Find out more about how the product helped households meet their needs and recover after a drought.24th to 25th June 2013, Zurich
University of Zurich executive education course on microinsurance
This course allows participants to gain a basic understanding of microinsurance. Participants will explore the theory and practice of offering microinsurance products to low-income customers. Through a simulation tool that introduces market uncertainty to classroom learning, participants will experience the key aspects of managing a microinsurance scheme.
Register online before the 23rd May 2013.29th to 30th May 2013, Cairo
Policy seminar on microinsurance regulation for supervisory authorities
This seminar welcomes representatives from African insurance regulatory and supervisory authorities as well as selected representatives of the African insurance industry. Participants will discuss innovative business models in microinsurance, and explore the regulatory and supervisory challenges around these models. The seminar will be held in English with French translation available. For further information please contact: secretariat@access-to-insurance.org.23rd May 2013, 12-1:30 PM, Room P6-170 (6th floor), 900 19th Street, NW, Washington, DC - and by webinar
Health microinsurance in 2013: An update
Join members of the Microinsurance Network as they engage in a discussion on the latest findings on health microinsurance. Please RVSP by May 16 to Lauren Peterson if you plan to attend in person or would like to be connected via webinar.Subscribe to our knowledge products
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The Facility's activities
The Facility has provided grants to develop innovations in the microinsurance sector. Click on the
Innovation grantees and on the Learning Journeys to get an overview of the projects that are implemented and of the good practices that are collected to eventually benefit the working poor. The Capacity Building Programme undertakes three main types of activities: Training and curriculum development, professional development and microinsurance project interventions. The
Research programme has an important role to play to consolidate existing knowledge and stimulate new learning to move the microinsurance agenda forward. The
Knowledge Management programme involves activities that focus on leveraging lessons learned from its partners and disseminating them widely to improve microinsurance practices.
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