Samar—From June 10 to 12, 2019, the Microinsurance MBA Association of the Philippines, Inc. (MiMAP) or RIMANSI conducted the Assessment and Sustainability Planning of Insurance, Savings and Loan Advocates (ISLAs) in Northern Samar.
MiMAP (RIMANSI) officers and consultants involved in the planning included the following: Executive Director Jun Jay Perez, Training & Communications Officer Allelie Ruth Mojica, Assistant Programs Officer Joyce Caponpon, Distribution Channel Specialist Camilo Casals and ISLA Advisor Noel Gabrito and Assistant to the ISLA Advisor Jovery Olegario.
The assessment and planning started off with the updating of status of ISLAs in Samar and Leyte. This was followed by the discussion of the results of consultation with select ISLA facilitators regarding the feasibility and desirability of organizing ISLAs. Accordingly, a general agreement was reached with the idea of forming an association that may provide support to ISLAs, which was then detailed during the planning. Firstly, the association would help with business networking. This will help widen access to a range of wholesale loans, and accessible microinsurance products and services. Second, the association would provide external oversight to the ISLAs. It would ensure members of the integrity of ISLA groups in terms of governance and management. This association would help with financial transaction and compliance with established by-laws, policies and procedures.
Lastly, the business model and key activities of the planned ISLA association were discussed. It was proposed that the ISLA association will be managed by a non-government organization based in Northern Samar whose work primarily focuses on providing high-quality financial services (savings and loans) and skills building activities to the communities in the rural areas of Samar.