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<o:p></o:p></span></p>
<p class=MsoNormal style='margin-left:70.8pt;text-indent:35.4pt'><span
lang=EN-US style='font-size:20.0pt'> </span><span
lang=EN-GB style='font-size:20.0pt'>NEW <a
href="http://www.microinsurancenetwork.org/focusnotes.php"><span
style='color:windowtext;text-decoration:none'>Microinsurance in Focus Notes</span></a><o:p></o:p></span></p>
<p class=MsoNormal style='margin-left:70.8pt;text-indent:35.4pt'><span
lang=EN-GB style='font-size:9.0pt'>
<a href="http://www.microinsurancenetwork.org/focusnotes.php">http://www.microinsurancenetwork.org/focusnotes.php</a><o:p></o:p></span></p>
<p class=MsoNormal align=center style='text-align:center'><span lang=EN-GB
style='font-size:9.0pt'><o:p> </o:p></span></p>
<p class=MsoNormal><span lang=EN-GB><o:p> </o:p></span></p>
<p class=MsoNormal><span lang=EN-GB>The Microinsurance Network has published a
new version of Microinsurance in Focus notes, available in English, French,
Spanish and Portuguese. These notes are based on the book <a
href="http://www.munichre-foundation.org/StiftungsWebsite/Projects/Microinsurance/2006Microinsurance/Microinsurance_Compendium.htm"
target="_blank" title="Protecting the Poor: A Microinsurance Compendium">Protecting
the Poor: A Microinsurance Compendium</a>, published on behalf of the
Microinsurance Network (formerly known as CGAP Working Group for
Microinsurance), the International Labour Organization (ILO) and the Munich Re
Foundation.<o:p></o:p></span></p>
<p class=MsoNormal><span lang=EN-GB><o:p> </o:p></span></p>
<p class=MsoNormal><span lang=EN-GB>The topics are:<o:p></o:p></span></p>
<p class=MsoNormal><span lang=EN-GB><o:p> </o:p></span></p>
<p class=MsoNormal><b><span lang=EN-GB style='font-size:12.0pt'>Nr. 1:
Marketing: Promoting insurance to the poor <o:p></o:p></span></b></p>
<p class=MsoNormal><span lang=EN-GB style='font-size:10.0pt'>Many people, rich
or poor, are reluctant to buy insurance because they do not want to think about
loss, illness or death. Indeed, regardless of the economic status of the target
market, the old adage “insurance is sold, not bought” holds true.<o:p></o:p></span></p>
<p class=MsoNormal><span lang=EN-GB><o:p> </o:p></span></p>
<p class=MsoNormal><b><span lang=EN-GB style='font-size:12.0pt'>Nr. 2: Product
design and insurance risk management <o:p></o:p></span></b></p>
<p class=MsoNormal><span lang=EN-GB style='font-size:10.0pt'>Upon entering the
low-income market, insurers should first establish the need and demand for
insurance, determine the risks that can be insured, and devise insurance risk
management processes for ensuring the product’s viability.<o:p></o:p></span></p>
<p class=MsoNormal><span lang=EN-GB><o:p> </o:p></span></p>
<p class=MsoNormal><b><span lang=EN-GB style='font-size:12.0pt'>Nr. 3: Premium
collection: Minimizing transaction costs and maximizing customer service</span></b><span
lang=EN-GB style='font-size:12.0pt'><o:p></o:p></span></p>
<p class=MsoNormal><span lang=EN-GB style='font-size:10.0pt'>The low-income
market that microinsurers target presents its own unique challenges to
collecting premiums. Primary premium collection mechanisms used by mainstream
insurers such as salary deductions from employers or debit orders from bank
accounts are often not an option.<o:p></o:p></span></p>
<p class=MsoNormal><span lang=EN-GB><o:p> </o:p></span></p>
<p class=MsoNormal><b><span lang=EN-GB style='font-size:12.0pt'>Nr. 4:
Strategies for sustainability</span></b><span lang=EN-GB style='font-size:12.0pt'>
<o:p></o:p></span></p>
<p class=MsoNormal><span lang=EN-GB style='font-size:10.0pt'>The sustainability
dilemma comes down to a trade-off between three competing objectives for a real
value product: Coverage, operating and transaction costs for the insurer and
the product’s affordability.<o:p></o:p></span></p>
<p class=MsoNormal><span lang=EN-GB style='font-size:10.0pt'><o:p> </o:p></span></p>
<p class=MsoNormal><b><span lang=EN-GB style='font-size:12.0pt'>Nr. 5 :
Organizational development in microinsurance</span></b><span lang=EN-GB
style='font-size:12.0pt'> <o:p></o:p></span></p>
<p class=MsoNormal><span lang=EN-GB style='font-size:10.0pt'>To achieve
objectives, a microinsurance provider needs to be creative in training and
rewarding workers. This note examines five aspects of organizational
development: Organizational structure, recruitment, training, compensation, and
institutional culture.<o:p></o:p></span></p>
<p class=MsoNormal><span lang=EN-GB><o:p> </o:p></span></p>
<p class=MsoNormal><b><span lang=EN-GB style='font-size:12.0pt'>Nr.6 : Loss
prevention and control <o:p></o:p></span></b></p>
<p class=MsoNormal><span lang=EN-GB style='font-size:10.0pt'>Loss prevention,
loss minimization and loss control are often used interchangeably. Loss
prevention involves initiatives to avoid the occurrence of risk, especially
insured events. Loss minimization strives to reduce the impact of risks when
they do occur. Together, these two activities amount to loss control.<o:p></o:p></span></p>
<p class=MsoNormal><span lang=EN-GB><o:p> </o:p></span></p>
<p class=MsoNormal><b><span lang=EN-GB style='font-size:12.0pt'>Nr. 7 :
Recommendations for commercial insurers</span></b><span lang=EN-GB
style='font-size:12.0pt'> <o:p></o:p></span></p>
<p class=MsoNormal><span lang=EN-GB style='font-size:10.0pt'>Low-income
households could potentially become an exciting and modestly profitable new
niche for commercial insurers. However, the poor represent a unique target
market that requires a different approach.<o:p></o:p></span></p>
<p class=MsoNormal><span lang=EN-GB><o:p> </o:p></span></p>
<p class=MsoNormal><b><span lang=EN-GB style='font-size:12.0pt'>Nr. 8:
Microinsurance: What can donors do? <o:p></o:p></span></b></p>
<p class=MsoNormal><span lang=EN-GB style='font-size:10.0pt'>In most countries,
reaching scale and providing real value to clients is likely to require donor
involvement in the medium term. Donors will need appropriate expertise and
resources to engage effectively in microinsurance because it is relatively new,
complex, and risky.</span><span lang=EN-GB><o:p></o:p></span></p>
<p class=MsoNormal><span lang=EN-GB><o:p> </o:p></span></p>
<p class=MsoNormal><b><span lang=EN-GB style='font-size:12.0pt'>Nr. 9: Claims
processing: Some general comments <o:p></o:p></span></b></p>
<p class=MsoNormal><span lang=EN-GB style='font-size:10.0pt'>Without efficient
and effective claims processing, it will be impossible to offer affordable real
value products to low‐income households since their settlement is when the
insurers can fulfill their promises and prove to the insured that they are
trustworthy.</span><span lang=EN-GB><o:p></o:p></span></p>
<p class=MsoNormal><span lang=EN-GB><o:p> </o:p></span></p>
<p class=MsoNormal><b><span lang=EN-GB style='font-size:12.0pt'>Nr. 10: Role of
governments <o:p></o:p></span></b></p>
<p class=MsoNormal><span lang=EN-GB style='font-size:10.0pt'>Governments can facilitate,
among others, market development by promoting microinsurance through a variety
of mechanisms, including the creation of an enabling environment, education and
social marketing, and the provision of financial assistance.<o:p></o:p></span></p>
<p class=MsoNormal><span lang=EN-GB><o:p> </o:p></span></p>
<p class=MsoNormal><b><span lang=EN-GB style='font-size:12.0pt'>Nr. 11:
Mutuals, cooperatives and community-based insurers</span></b><span lang=EN-GB
style='font-size:12.0pt'> <o:p></o:p></span></p>
<p class=MsoNormal><span lang=EN-GB>The </span><span lang=EN-GB
style='font-size:10.0pt'>mutual model embodies the social and commercial
dimensions of microinsurance. A mutual is a company or association that
is owned and governed by its members. Policyholders share the returns and
possibly the risks of the scheme.<o:p></o:p></span></p>
<p class=MsoNormal><span lang=EN-GB><o:p> </o:p></span></p>
<p class=MsoNormal><b><span lang=EN-GB style='font-size:12.0pt'>Nr. 12:
Providing insurance of real value to the poor <o:p></o:p></span></b></p>
<p class=MsoNormal><span lang=EN-GB style='font-size:10.0pt'>This final
Microinsurance in Focus Note has been written by Ellis Wohlner and concludes
the series with reminding us that microinsurance is at the end of the day about
providing real value to the poor.<o:p></o:p></span></p>
<p class=MsoNormal><span lang=EN-GB style='color:#1F497D'><o:p> </o:p></span></p>
<p class=MsoNormal><i><span lang=EN-GB>The book and notes are based on the Good
and Bad Practices project led by the Operations Working Group, and funded by
DFID, GTZ, the ILO and SIDA.<o:p></o:p></span></i></p>
<p class=MsoNormal><i><span lang=EN-GB><o:p> </o:p></span></i></p>
<p class=MsoNormal><i><span lang=EN-GB>The objective of these notes is to
make the compendium's content more accessible and are available in
English, French, Spanish and Portuguese.<o:p></o:p></span></i></p>
<p class=MsoNormal><span lang=EN-GB><o:p> </o:p></span></p>
<p class=MsoNormal><span lang=EN-GB>For more information, visit <u><a
href="http://www.microinsurancenetwork.org">www.microinsurancenetwork.org</a> </u><o:p></o:p></span></p>
<p class=MsoNormal><span lang=EN-GB><o:p> </o:p></span></p>
<p class=MsoNormal><span lang=EN-GB style='font-size:10.0pt;font-family:"Arial","sans-serif";
color:#1F497D'>Matthew Genazzini,</span><span lang=EN-GB style='font-size:10.0pt;
font-family:"Arial","sans-serif"'> </span><b><span style='font-family:"Arial","sans-serif";
color:#A3003A'>І</span></b><span style='font-size:10.0pt;font-family:"Arial","sans-serif";
color:#A3003A'> </span><span lang=EN-GB style='font-size:10.0pt;font-family:
"Arial","sans-serif";color:#1F497D'>Communication Officer <o:p></o:p></span></p>
<p class=MsoNormal><a href="mailto:veronique.ada@microfinance.lu"
target="_blank"><span lang=EN-GB style='font-size:10.0pt;font-family:"Arial","sans-serif"'>matthew.ada@microfinance.lu</span></a><span
style='font-size:10.0pt;font-family:"Arial","sans-serif"'> </span><b><span
style='font-family:"Arial","sans-serif";color:#A3003A'>І </span></b><span
lang=EN-GB style='font-size:9.0pt;font-family:"Arial","sans-serif";color:#1F497D'>Tél.:+352/45.68.68.23
</span><b><span style='font-family:"Arial","sans-serif";color:#A3003A'>І</span></b><span
lang=EN-GB style='font-size:9.0pt;font-family:"Arial","sans-serif";color:#1F497D'>
Fax.:+352/45.68.68.68</span><span lang=EN-GB style='font-size:9.0pt;color:#1F497D'><o:p></o:p></span></p>
<p class=MsoNormal><span lang=EN-GB style='font-size:10.0pt;font-family:"Arial","sans-serif";
color:#1F497D'>Microinsurance Network </span><b><span style='font-family:"Arial","sans-serif";
color:#A3003A'>І</span></b><b><span style='font-family:"Arial","sans-serif";
color:#1F497D'> </span></b><span lang=EN-GB style='font-size:10.0pt;font-family:
"Arial","sans-serif";color:#1F497D'>c/o ADA asbl </span><b><span
style='font-family:"Arial","sans-serif";color:#A3003A'>І</span></b><span
lang=EN-GB style='font-size:10.0pt;font-family:"Arial","sans-serif";color:#1F497D'>
21-25 Allée Scheffer </span><b><span style='font-family:"Arial","sans-serif";
color:#A3003A'>І</span></b><span lang=EN-GB style='font-size:10.0pt;font-family:
"Arial","sans-serif";color:#1F497D'> L-2520 Luxembourg</span><b><span
lang=EN-GB style='font-family:"Arial","sans-serif";color:#A3003A'> </span></b><a
href="http://www.microinsurancenetwork.org/" target="_blank"><span lang=EN-GB
style='font-size:10.0pt;font-family:"Arial","sans-serif"'>www.microinsurancenetwork.org</span></a><span
lang=EN-GB><o:p></o:p></span></p>
<p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'><span
style='font-size:13.5pt;font-family:Webdings;color:green'>P </span><i><span
lang=EN-US style='font-size:7.5pt;font-family:"Verdana","sans-serif";
color:green'>Before printing, think about the environment </span></i><span
lang=EN-US><o:p></o:p></span></p>
<p class=MsoNormal><span lang=EN-US><o:p> </o:p></span></p>
<p class=MsoNormal><span lang=EN-US><o:p> </o:p></span></p>
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