Microinsurance policy responding to protection needs of crafts workers in Bolivia

Wednesday, June 13, 2018
Over 500 craftsmen and women from the OEPAIC Network (Cultural Crafts Workers Network - loosely translated from Spanish) have purchased a life/accident microinsurance policy for a yearly premium of USD 5.4.
This inclusive policy covers the insured, in cases of natural and accidental death, as well as medical expenses up to USD 300 for accidents.
Ms. Dionisia, a craftswomen for the Association of Native Arts said, "I now feel relieved with the insurance policy, because I know that if anything happens to me, my family will be protected". 
Dealing with a segment of the Bolivian population, which is highly vulnerable to accident risks (transporting their products from rural to urban areas via public transport) has been a great challenge for the Inclusive Insurance Project, carried out by Fundacion PROFIN (funded by the Swiss Cooperation in Bolivia). One of the main challenges has been getting the consumers to understand the use of obtaining a policy for a premium, with no (immediate) tangible benefits.
To overcome these obstacles, PROFIN has implemented insurance awareness and eduction campaigns for the crafts workers.
Read full press release (in Spanish) here.