[Microinsurancefocus] CARE International launches micro insurance for VSLA's

[Richard Leftley]

http://www.microcapital.org/microcapitalorg-brief-opportunity-international-
subsidiary-microensure-partners-with-care-to-launch-funeral-microinsurance-p
roduct/

 

MicroEnsure is delighted to announce the launch of its partnership with CARE
International to sell voluntary funeral insurance to its Village Savings and
Loan clients. The interesting aspects of this project include;

 

.         Extremely low income group - the VSLA is made up of rural women
who save small amounts weekly and then allocate loans from the groups
savings. Typically the loans are tens of dollars and so the ability to pay
premiums is limited.

.         Uses a group opt in or opt out to ensure that the clients receive
education and have an opportunity to understand the product.

.         The lack of a regular interface with the group (e.g. loan officer)
and historical training to "never pay an outsider anything" posed challenges
for how to economically collect premiums and disburse claims resulting in a
field office being established by MicroEnsure to see whether the model could
support specific sales infrastructure in a rural setting.

 

As ever - happy to try and answer questions!

 

Best regards

 


Richard Leftley


President & CEO


Telephone: +1 630 687 1950
Mobile: +44 (0)7800 593 604
Skype: richard.leftley
Email:  <mailto:richard.leftley at microensure.com>
richard.leftley at microensure.com
Web:  <http://www.microensure.com> www.microensure.com

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