Banco Santiago de Libon Microinsurance Assessment Visit

Alongside its technical assistance visit and operations review, MABS also conducted a microinsurance assessment visit to Banco Santiago de Libon on November 26-28 to evaluate the bank’s formal microinsurance services. The MABS team conducted focus group discussions (FGDs) among the bank’s clients and field staff regarding the effectiveness and gaps in its microinsurance products underwritten by its partner-commercial insurance companies.
As the bank pursues the partnership model for delivery of formal microinsurance, it appears to have generated enough field lessons and client feedback to influence more simplified requirements and efficient claims procedures integral to ensuring the continued satisfaction of its microfinance clients.  Notably, it was apparent how the bank’s management is successful at establishing strong rapport with its partners, which allows it to negotiate for services that are more suited to meeting the needs of its client base in rural communities.

Alongside its technical assistance visit and operations review, MABS also conducted a microinsurance assessment visit to Banco Santiago de Libon on November 26-28 to evaluate the bank’s formal microinsurance services. The MABS team conducted focus group discussions (FGDs) among the bank’s clients and field staff regarding the effectiveness and gaps in its microinsurance products underwritten by its partner-commercial insurance companies.

As the bank pursues the partnership model for delivery of formal microinsurance, it appears to have generated enough field lessons and client feedback to influence more simplified requirements and efficient claims procedures integral to ensuring the continued satisfaction of its microfinance clients.  Notably, it was apparent how the bank’s management is successful at establishing strong rapport with its partners, which allows it to negotiate for services that are more suited to meeting the needs of its client base in rural communities.