MABS works with Bangko Kabayan on Client Demand Study for Microinsurance

Aiming to assist Bangko Kabayan in enhancing the delivery of its microinsurance services, MABS conducted a research visit to the bank on October 12-14 to research microinsurance service delivery gaps and the demand for microinsurance products among the bank’s clients.
In 2007, Bangko Kabayan established a partnership with Philippine Prudential Life in offering formal microinsurance beyond mere credit life. This partnership enabled KAPITAN group loan clients to access annual life insurance coverage for themselves, their spouse and dependents. Since the Bangko Kabayan’s microinsurance package has yet to incorporate hospitalization benefits, the bank encourages its clients to enroll in PhilHealth’s KASAPI Program to which it currently serves as a payment center.
Based on the research, the bank’s clients feel the need to secure their financial stability, especially upon their retirement. Thus, MABS suggested that the bank capitalize on this need and provide savings product that can enable stronger client retention and promote saving for retirement and emergencies. The study also revealed that amid increasing competition, Bangko Kabayan has maintained an image of stability, reliability and professionalized service which strongly influenced loyalty among several of its KAPITAN group loan clients.

Microinsurance FGD at Bangko KabayanAiming to assist Bangko Kabayan in enhancing the delivery of its microinsurance services, MABS conducted a research visit to the bank on October 12-14 to research microinsurance service delivery gaps and the demand for microinsurance products among the bank’s clients.

In 2007, Bangko Kabayan established a partnership with Philippine Prudential Life in offering formal microinsurance beyond mere credit life. This partnership enabled KAPITAN group loan clients to access annual life insurance coverage for themselves, their spouse and dependents. Since the Bangko Kabayan’s microinsurance package has yet to incorporate hospitalization benefits, the bank encourages its clients to enroll in PhilHealth’s KASAPI Program to which it currently serves as a payment center.

Based on the research, the bank’s clients feel the need to secure their financial stability, especially upon their retirement. Thus, MABS suggested that the bank capitalize on this need and provide savings product that can enable stronger client retention and promote saving for retirement and emergencies. The study also revealed that amid increasing competition, Bangko Kabayan has maintained an image of stability, reliability and professionalized service which strongly influenced loyalty among several of its KAPITAN group loan clients.