Advancing social justice, promoting decent work
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Banco Popular
Mission: Offers credit to customers that do not have regular access to banks, as well as small and mid-sized companied with small annual revenues.
Decent Work Area:
Vulnerability, risk management and overindebtedness
Innovation:
Combination of financial and non-financial services: voluntary health insurance product & client training on risk management, first aid.
Health microinsurance product that covers critical illness, hospitalization plan, medical expenses, and personal accident. The insurance was offered to clients in the SME sector to improve their coping strategies vis-a-vis unforeseen health-related expenses. This strategy was complemented by client training on work related risk, first aid and use of insurance.
Results:
The implementation of the new health insurance product was delayed which resulted in insufficient time to conduct an endline data collection. Hence, the impact of the innovation could not be estimated.
