ICMIF granted project support for mutual microinsurance strategy in the Philippines
RIMANSI spearheaded implementation of new project funded by Folksam (Sweden) through International Cooperative and Mutual Insurance Federation, leading toward the achievement of the 5-5-5 mutual microinsurance strategy.
The said strategy was launched to help mutual microinsurers reach its full potential scale in a number of emerging markets and touching the lives of millions of low-income households.
For this project, RIMANSI will work on enhancing the performance evaluation tool for Microinsurance MBAs, assisting in the development of strategic plans and development of new markets for selected grantees.
Four Microinsurance MBAs to explore new markets
4K-MBA, CARE MBA, QPI MBA, and KCCDFI MBA were provided support through the project to expand market and membership. Planning sessions were held from June to September for each Mi-MBA to identify key activities, needs, and corresponding budget in order to achieve their desired membership increase in one year. The Mi-MBAs are set to explore partnerships with 4Ps beneficiaries, church workers, and cooperatives/MFIs.
Strategies identified for CARE MBA and KGI MBA
CARE MBA and KGI MBA held a separate three-year strategic planning last August 30-31 and October 4-6, respectively.
The three-day planning workshop revolved around review of vision, mission and goal, environmental scanning, strategic options and annual work plan preparation.