PB in Focus: Cantilan Bank, helping to create greater access to formal microinsurance

Cantilan Bank

Cantilan Bank is one of the rural banks that can be considered as an exemplar of successful microinsurance initiative through the partnership model, a microinsurance delivery scheme which involves partnering with a leading insurance provider in providing formal microinsurance to clients. From the onset of its partnership with the Philippine American Life and General Insurance Company (PhilAm Life) in 2005, Cantilan Bank has ensured its clients are offered with insurance products in the community that best serve their needs.
Through this successful partnership, PhilAm Life has been able to offer Cantilan Bank insurance benefits that go beyond the usual credit life insurance services generally offered by banks. As a result, Cantilan Bank continues to see microinsurance as strategic to the strengthening of its microfinance services, the growth of its clientele, and the strengthening of its current client base.
Cantilan Bank’s clients give high marks to PhilAm Life and Cantilan Bank’s products and services. In the focus group discussions and surveys, the clients agreed that the microinsurance adds significant value when offered alongside the bank’s microfinance loan products. Positive feedback from clients were manifestations of the important role that the bank provides in its community including greater access to payments for appropriate formal microinsurance services.

Cantilan Bank is one of the rural banks that can be considered as an exemplar of successful microinsurance initiative through the partnership model, a microinsurance delivery scheme which involves partnering with a leading insurance provider in providing formal microinsurance to clients. From the onset of its partnership with the Philippine American Life and General Insurance Company (PhilAm Life) in 2005, Cantilan Bank has ensured its clients are offered with insurance products in the community that best serve their needs.

Through this successful partnership, PhilAm Life has been able to offer Cantilan Bank insurance benefits that go beyond the usual credit life insurance services generally offered by banks. As a result, Cantilan Bank continues to see microinsurance as strategic to the strengthening of its microfinance services, the growth of its clientele, and the strengthening of its current client base.

Cantilan feature_Aug09Cantilan Bank’s clients give high marks to PhilAm Life and Cantilan Bank’s products and services. In the focus group discussions and surveys, the clients agreed that the microinsurance adds significant value when offered alongside the bank’s microfinance loan products. Positive feedback from clients were manifestations of the important role that the bank provides in its community including greater access to payments for appropriate formal microinsurance services.

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