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MicroEnsure India announces launch of microinsurance package for Kerala farmers

MicroEnsure India have announced the launch of a new microinsurance package for farmers in Kerala that provides health microinsurance and a ‘package shield’ for farmers comprising of property, contents and equipment, accident hospitalisation and life insurance.

Due to be launched in January 2011, it is expected that the programme will benefit 5,000 farmers across four districts in Kerala.

The health insurance product covers each family on a floater basis of up to Rs.30,000 (approximately $663) per year. It covers pre-existing illnesses and post hospitalisation expenses up to 30 days from the date of hospitalisation. Coverage includes maternity benefit up to Rs.5,000 (approximately $110) for caesarean delivery and Rs.2,000 (approximately $44) for normal delivery.

By combining a number of microinsurance products into a single package, MicroEnsure is able to reduce its level of administration resulting in a lower cost for the client.

Read full article on the MicroEnsure's website

Microinsurance Innovation Facility launches new call for innovation grants

The ILO's Microinsurance Innovation Facility launches a new call for grant proposals to encourage insurance providers to experiment with new products and develop strategic partnerships that will bring effective and affordable products to the working poor in developing countries.

This new round is focused on 'scale and efficiency' and is funded by the Z Zurich Foundation of Zurich Financial Services. In this round, the Facility seeks to promote microinsurance projects that utilise technology and process innovations to enable microinsurance providers to dramatically increase their outreach and/or improve their operational efficiency to provide better insurance coverage to low-income households.

The deadline for submission is 25 January 2011.

Click here for application form and guideline

Leyte rice farmers try out crop insurance in the Philippines

Business World Online, 8 November 2010

To protect agricultural incomes from the impact of natural calamities, the German Agency for Technical Cooperation (GTZ) has introduced parametric crop insurance schemes to farmers in 17 municipalities of Leyte and Southern Leyte.

Antonis Malagardis, program manager of GTZ’s Microinsurance Innovations Program for Social Security (MIPSS) and member of the Microinsurance Network, said the scheme targets 5,000 farmers in rice-farming municipalities in the two Leyte provinces. The scheme is being undertaken through the GTZ’s Enhancement of Food Security in the Visayas (EFOS) project.

"EFOS is set to design a new type of crop insurance called Area Based Yield Index Insurance (ARBY) that uses indices to determine the amount of insurance payment to farmers," Mr. Malagardis said during the discussion with irrigators’ association members here.

He explained that ARBY is a type of parametric crop insurance, which compares the current rice yield of an entire irrigation system with the average rice yield in the past 15 years.

Read full article

MicroEnsure launches health insurance in Tanzania

MicroEnsure, 8 November 2010

MicroEnsure has launched its first health insurance pilot in Tanzania which provides cover for a family of five for just $8 per person per year.

Access to health facilities to treat common illnesses is difficult for many Tanzanians. Public facilities often lack the capacity needed to offer comprehensive healthcare, whilst the majority of the population are unable to afford the services offered by private healthcare facilities.

MicroEnsure in conjunction with the Anglican Health Network, have launched 'Imani', a health insurance programme that provides coverage for malaria, maternity, diarrheal disease, pneumonia and acute respiratory infections. Imani is Swahili for ‘Faith, Belief, Trust’.

In order to increase the affordability of the product, clients are able to pay the premium in one annual sum or in two instalments every six months.

Read full article

PlaNet Guarantee seeking Portfolio Manager

PlaNet Guarantee, a subsidiary of PlaNet Finance devoted to the promotion and development of microinsurance, are seeking a Portfolio Manager whose main tasks will be to manage and monitor the portfolio of microinsurance products of PlaNet Guarantee.

Click here for more information

MIA wins Asia Insurance Industry Award

The 14th Asia Insurance Industry Awards, jointly organised by Asia Insurance Review and the Review Worldwide Reinsurance magazine, was held on the eve of the 25th East Asian Insurance Congress in Indonesia.

The Micro Insurance Academy (MIA) was awarded the "Educational Service Provider of the Year" 2010 Award. The jury panel, made up of 27 leaders and experts, selected 14 Awardees from over 540 candidates.

Award Winners 2010

The Micro Insurance Academy's innovative training methods, customised to the needs of low-income groups, won admiration from its peers and the judging panel. The judges noted that "the low-income group presents the toughest challenge for insurance education because they can flag their poverty as a reason to reject insurance. The MIA has risen to this challenge by developing, testing and delivering a broad range of innovative, multilingual, audio-visual education messages, bridging the literacy and numeracy gap of the target population

Click here for more information