RBAP-MABS steps up to support the Microinsurance Industry

The RBAP-MABS Program, with the support of MICRA/Philippines and Mercy Corps MAXIS, has been working with various stakeholders in the insurance industry to support the new National Strategy on Microinsurance launched on January 29. This support includes technical assistance and training for insurance providers in developing and enhancing the quality of microinsurance products and services in the country.
As part of this inititative, RBAP-MABS, MICRA/Philippines and Mercy Corps MAXIS held a workshop on February 1-3 at the Asian Institute of Management (AIM) Conference Center in Makati City entitled “Developing Successful Microinsurance Products”.
“The event was held in line with the government’s efforts towards developing the country as the Microinsurance Capital of Asia,” RBAP President Joseph Omar Andaya said.
“It (the event) proved to be a fitting follow-through to the recent launching of the National Regulatory Framework and National Strategy for Microinsurance, which was led by the Department of Finance National Credit Council and various public and private stakeholders in the country,” he added.
Aimed at enhancing insurers’ skills in product development, service delivery and marketing, the workshop was participated in by RBAP-MABS’ insurance partners (AA International, Country Bankers Life, CocoLife, Malayan Insurance, MicroEnsure Philippines, Philippine Prudential Life and Pioneer Life) and mutual benefit associations (MBAs)(TSPI, ASKI, RBTI and CARD). Also present in support of the event were representatives of GTZ-German Technical Cooperation, Philippine Life Insurance Association (PLIA) and Coop Life Insurance and Mutual Benefit Services (CLIMBS).
The training-workshop is considered as the first of its kind in the Philippines and was conducted by Senior Microinsurance Specialist and President of the Microinsurance Centre of USA, Michael McCord. He has been conducting a series of consultation meetings with the country’s insurance industry stakeholders in support of RBAP-MABS and MICRA’s efforts in expanding microinsurance services in the Philippines.

The RBAP-MABS Program, with the support of USAID, MICRA/Philippines and Mercy Corps MAXIS, has been working with various stakeholders in the insurance industry to support the new National Strategy on Microinsurance launched on January 29. This support includes technical assistance and training for insurance providers in developing and enhancing the quality of microinsurance products and services in the country.

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As part of this initiative, RBAP-MABS, USAID, MICRA/Philippines and Mercy Corps MAXIS held a workshop on February 1-3 at the Asian Institute of Management (AIM) Conference Center in Makati City entitled “Developing Successful Microinsurance Products”.

“The event was held in line with the government’s efforts towards developing the country as the Microinsurance Capital of Asia,” RBAP President Joseph Omar Andaya said. “It (the event) proved to be a fitting follow-through to the recent launching of the National Regulatory Framework and National Strategy for Microinsurance, which was led by the Department of Finance National Credit Council and various public and private stakeholders in the country,” he added.

Aimed at enhancing insurers’ skills in product development, service delivery and marketing, the workshop was participated in by RBAP-MABS’ insurance partners (AA International, Country Bankers Life, CocoLife, Malayan Insurance, MicroEnsure Philippines, Philippine Prudential Life and Pioneer Life) and mutual benefit associations (MBAs)(TSPI, ASKI, RBTI and CARD). Also present in support of the event were representatives of GTZ-German Technical Cooperation, USAID, the Philippine Life Insurance Association (PLIA) and Coop Life Insurance and Mutual Benefit Services (CLIMBS).

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The training-workshop is considered as the first of its kind in the Philippines and was conducted by Senior Microinsurance Specialist and President of the Microinsurance Centre of USA, Michael McCord. He has been conducting a series of consultation meetings with the country’s insurance industry stakeholders in support of RBAP-MABS and MICRA’s efforts in expanding microinsurance services in the Philippines.  RBAP has been actively advocating for member rural banks to eventually partner with private local insurance companies to provide needed insurance services for their microfinance clients.

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