RBAP-MABS shares Philippine experiences at the Microinsurance Asia Summit 2010 in Singapore

RBAP-MABS Microinsurance Coordinator Ruth Aseron shared the experiences of rural banks and their insurance partners in microinsurance distribution at the Microinsurance Asian Summit held on August 3-5, 2010 at the Grand Copthorne Waterfront Hotel, Singapore.
Organized by Hanson Wade, the event convened leaders and representatives of established institutions and new entrants to the emerging industry of microinsurance.  Present at the event was a diversity of key private institutions comprised of underwriters and insurance providers, reinsurers, social investors, technology solutions providers, NGO MFIs, foreign donor agencies and technical assistance providers.
A significant interest of participants at the event was the potential convergence of rural banks’ mobile phone banking  and microinsurance services to facilitate cost-efficient payment, administration and claims while partnering with private insurance companies in order to increase access and reduce the costs of managing small accounts.
Secretary General Yoshi Kawai of the International Association of Insurance Supervisors (IAIS) opened the 2-day conference with a discussion on the G20 Initiatives on Microinsurance and the significance of developing relevant policies and regulations founded on financial inclusion and poverty alleviation. This established the theme of the conference as speakers evinced social entrepreneurship with discussions on sustainability of microinsurance products balanced with addressing risk protection needs of the “middle poor” or “mass market”.
The three-day event included workshops that allowed participants to analyze and share experiences from around the region on effective microinsurance product development and distribution.

RBAP-MABS Microinsurance Coordinator Ruth Aseron shared the experiences of rural banks and their insurance partners in microinsurance distribution at the Microinsurance Asian Summit held on August 3-5, 2010 at the Grand Copthorne Waterfront Hotel, Singapore.

Organized by Hanson Wade, the event convened leaders and representatives of established institutions and new entrants to the emerging industry of microinsurance.  Present at the event was a diversity of key private institutions comprised of underwriters and insurance providers, reinsurers, social investors, technology solutions providers, NGO MFIs, foreign donor agencies and technical assistance providers.

A significant interest of participants at the event was the potential convergence of rural banks’ mobile phone banking  and microinsurance services to facilitate cost-efficient payment, administration and claims while partnering with private insurance companies in order to increase access and reduce the costs of managing small accounts.

Secretary General Yoshi Kawai of the International Association of Insurance Supervisors (IAIS) opened the 2-day conference with a discussion on the G20 Initiatives on Microinsurance and the significance of developing relevant policies and regulations founded on financial inclusion and poverty alleviation. This established the theme of the conference as speakers evinced social entrepreneurship with discussions on sustainability of microinsurance products balanced with addressing risk protection needs of the “middle poor” or “mass market”.

The three-day event included workshops that allowed participants to analyze and share experiences from around the region on effective microinsurance product development and distribution.