Pathways towards greater impact: Improving your MFI's inclusive insurance offering
Microfinance institutions (MFIs) can be one of the most effective distribution channels for delivering inclusive insurance, given their trust-based relationship with emerging consumers and infrastructure to provide financial services. Unfortunately, many MFIs do not offer insurance products and of those that do, nearly half offer standard credit-life products only. This training seeks to guide financial institutions in improving their inclusive insurance offering through an examination of the experiences of MFIs that have successfully evolved their inclusive insurance products, processes and institutional models to improve the value proposition for clients and their own business viability.
1 April 2013
Training objectives
- Articulate a rationale for making changes to their current inclusive insurance offering
- Explore models, products and processes that have enabled MFIs around the world to improve their inclusive insurance offering
- Identify at least three ways to make their inclusive insurance offering more valuable to their target market
- Identify at least three ways to increase the efficiency of their inclusive insurance offering
- Identify at least three ways to enhance the contribution of inclusive insurance to their core business strategy
Target audience
The main target audience are financial service providers that are already acting as a delivery channel for one or more insurance products and have a mandate to serve a new market. They include banks, rural banks, cooperatives, non-bank financial institutions and non-government organizations.Methodology
The dynamic sessions in the course use a combination of large group activities that include case study analyses, discussions and group presentations, learning competitions, and puzzle solving, among others.Duration
Two daysRelated content
The ILO’s Impact Insurance capacity building and market development initiative