Visayas and Mindanao rural banks trained on Microinsurance Basics

Rural banks based in Visayas and Mindanao recently completed the Basic Microinsurance Training during two separate sessions. Fifteen (15) bank officers and staff from eleven (11) Visayas and Mindanao rural banks attended the training held in Villa Margarita, Davao City, on August 18-19. While thirty-four (34) bank officers and staff from twenty-two (22) rural bank-members of the Iloilo Federation participated in the course held on August 22-23 at the Sarabia Hotel in Iloilo City. Altogether, one hundred and forty (140) rural banks have been attended and been trained under the RBAP Basic Microinsurance Training course since January 2011.

These courses are part of the continuing series of Basic Microinsurance Courses being offered to rural banks. The two-day training covers the fundamental concepts and principles of microinsurance through lecture, group exercises and simulation activities. More importantly, participants are guided on the procedures and requirements of the Insurance Company and the Bangko Sentral ng Pilipinas for Microinsurance Agent licensing.

The courses are also part of the activities of the Rural Bankers Association of the Philippines (RBAP) Microinsurance Initiative, a project that aims to build the capacity of rural banks on responsible microinsurance selling, marketing and distribution. The initiative is a partnership between the International Labour Organization Microinsurance Innovation Facility and the United States Agency for International Development-supported RBAP-Microenterprise Access to Banking Services Program.