Evaluation of the first year results: Fonkoze’s Kore W natural catastrophe insurance for Haitian micro-entrepreneurs

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In 2011, Fonkoze, in partnership with its insurance company MiCRO, introduced Kore W - an innovative new product to protect Haitian microloan clients from the devastating effects of natural disasters. Through the cancellation of loan balances and disbursement of emergency payouts, Kore W helps clients recover quickly after being impacted by floods, hurricanes, high winds, landslides, or earthquakes. 100% of Fonkoze’s microcredit clients pay a small premium for their coverage which amounts to roughly 55% of the cost of the product to Fonkoze.

Doing the math: Cashless funeral insurance in Colombia

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In September 2011 the MILK team partnered with MAPFRE Colombia in Bogota to study how policyholders and non-policyholders of MAPFRE’s CODENSA “Seguro Exequial” funeral insurance policy cope financially with the death of a family member. They implemented MILK’s Client Math methodology to better understand the financial tools available to and used by those with and without insurance and to conduct a quantitative assessment of the plausible gains to having insurance.

MILK Brief n°23: Getting better at improving client value: the case of Fonkoze’s Kore W microinsurance product

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In 2012, the Haitian microfinance institution Fonkoze partnered with the ILO’s Microinsurance Innovation Facility and the MicroInsurance Centre’s MILK Project to use two tools – MILK’s Client Math tool and the Facility’s PACE tool – to better understand how and whether its Kore W property insurance product added value in the lives of clients and how it might be modified to improve that value. The product itself was modified shortly after the study and following the devastating effects of Hurricane Sandy in October 2012.

Maybe Payung Keluarga case study from Indonesia

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In October 2012, six years after its launch as a pilot product in Indonesia, Payung Keluarga reached the mark of one million active insured. Payung Keluarga, which means Family Umbrella in Indonesian, is a credit life product that Allianz Life Indonesia has designed to fulfill the needs of micro borrowers who take loans from Microfinance Institutions (MFI). The aim of this case study is to highlight the driving factors behind PK’s success, and also to draw lessons that Allianz Indonesia has learned along the way. In Indonesia, there are more than 50,000 MFIs.

Case Brief: SAJIDA Foundation

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SAJIDA (Bangladesh) designed its insurance product to cover the most important risks faced by its clients. SAJIDA ensures that clients understand and benefit from it through tangible benefits and thorough client education. SAJIDA’s community health workers (Bondhus), located in each branch, perform basic health check-ups, give health advice, identify pregnant mothers and children at risk, and help clients use the health insurance. Therefore, even clients who never make a claim can benefit from the product.

Case Brief: IFFCO-Tokio General Insurance Co.

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About 1 billion people, around 70 per cent of the world’s population living in extreme poverty, depend on livestock for their livelihood. Small farmers in India generate nearly half of their income from livestock and the value of cattle represents a significant part of their wealth, so the death of cattle poses a significant risk and affects farmers’ net worth and income. Yet efforts to provide livestock insurance in India have struggled because of high claims ratios, with public insurers frequently experiencing claims ratios of 150 to 350 per cent.


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