Membership expansion for Mi-MBAs earmarked in second Citi Foundation grant
Citi Foundation awarded its second project grant to RIMANSI tailored to bank growth strategy of Microinsurance MBAs through development of new distribution channels.
Building on the gains of the initial project, RIMANSI geared on the implementation of another 18-month project to start on August 2017 and conclude by February 2019. The initiative is a continuing assistance on Building Microinsurers Capacities for Greater Financial Inclusion program.
Five thousand households to cover about twenty thousand lives in selected provinces of Southern Luzon, Western Visayas and Mindanao is expected to be insured through the joint effort of RIMANSI and four selected Microinsurance MBAs within the network to be tapped in building partnerships with interested organizations.
New distribution channels are to be explored outside the current membership of the Microinsurance MBAs such as beneficiaries of Pantawid Pamilyang Pilipino Program (4Ps), church workers, barangay and Local Government Unit (LGU) officials, and MFI or cooperatives, followed thereafter by development of distribution operating guidelines. More so, program coordinators will be capacitated to champion microinsurance distribution for the chosen partner organizations.
The project is viewed to achieve both Citi Foundation and RIMANSI’s ultimate goal of a greater financial inclusion by capacitating and helping Microinsurance MBAs in partnering with varied market segments to expand outreach especially to low-income households.