Low-income people are highly vulnerable to risks, especially health problems, the destruction of their houses, assets, harvest or livestock due to natural catastrophes or to losing the breadwinner of the family in an accident. However, the option of purchasing an insurance policy to become capable of dealing with financial shocks remains ineffective due to the lack of access to affordable and responsive insurance. Insurance entities remain skeptical when it comes to the low-income market segment where they lack experiences and that implies high delivery costs.
Above the three briefing notes: Delivering Microinsurance in the Philippines through Cooperatives, Delivering Microinsurance in the Philippines through Pawnshops and Delivering Microinsurance in the Philippines through Rural Banks.
Insurance Commission Philippines, CISP, CLIMBS, CLIS, GIZ-RFPI Asia for the MEFIN Network and RBAP.