In the 5th edition of our microinsurance podcast series, we interview Women's World Banking's Microinsurance Director Gilles Renouil and Senior Associate Hilary Nichols, to find out more about the major marketing and client education efforts they rolled out as part of a partnership with Morocco's AlAmana to boost their microinsurance product which had been experiencing a low claims ratio and whose benefits were little understood by clients.. Have a listen to find out what Women's World Banking did to educate clients and whether it's working.
Women’s World Banking is the global nonprofit devoted to giving more low-income women access to the financial tools and resources they require to build security and prosperity. They work with a global network of 38 financial institutions from 27 countries to create new credit, savings, and insurance products specifically designed for the unique needs of women.
Women’s World Banking began its work in microinsurance in 2008 with Microfund for Women in Jordan, developing “Caregiver,” a health microinsurance product for their clients that covered maternal health needs and have since adapted and replicated the product in several markets, one of which, Morocco, we will be talking about today.
For their work in Morocco they teamed up with Al Amana, a microfinance organization in Morocco with more than 300,000 borrowers, about half of whom are women.