Microinsurance: Guarding the poor from falling
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Transcript of Microinsurance: Guarding the poor from falling
An Introduction
Ferdinand SiaChemonics International
2012 RBAP-MABS National Roundtable ConferenceJune 7-8, 2012
Hyatt Hotel & Manila
Session 7: Transforming MI from Service to Business
Microinsurance:Guarding the poor from falling
2
Ermie peddles banana-que and bicho bichoto raise her two small children
3
Life was better when her husband was helping the family
4
But the unexpected happened…
5
Without Microinsurance, Ermie would incur unmanageable debt to pay for funeral and other emergency expenses
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-P30,000
-P20,000
-P10,000
P0
P10,000
P20,000
Debt
Death of Spouse
ChildbirthTreatment of pneumonia
In debt for 3 yearsRisks of unmanageable debt:1. Critical illness left untreated2. Children’s schooling disrupted
Poverty cycle would likely continue
With Microinsurance, Ermie did not incur unmanageable debt and continued to raise children without disruption
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-P30,000
-P20,000
-P10,000
P0
P10,000
P20,000
Debt
Death of Spouse
ChildbirthTreatment of pneumonia
In debt for 3 yearsFreedom from unmanageable debt:1. Illnesses treated properly2. Children continue schooling
Higher chance of escaping poverty
MICROINSURANCE
The RBAP-MABS Microinsurance InitiativeGuarding the poor from falling
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