The International Cooperative and Mutual Insurance Federation (ICMIF) Development Committee Meeting was held last January 26 – 27, 2015 in Leuven, Belgium. The Development Committee of ICMIF is the formal extension of the ICMIF Board of Directors that specifically serves as an oversight body for the activities of the Secretariat’s development functions.
The two-day annual committee meeting focused on ICMIF’s 5-5-5 Development Strategy activities and updates from Research, Advocacy and Technical Assistance Working Groups. Ms. May Dawat, General Manager of CARD MBA, presented the business model of CARD MBA in providing mutual microinsurance to its members. Mr. Jun Jay Perez contributed to the discussion by sharing different challenges and needs of Philippine mutual microinsurers.
Mr. Julio Jose Banzon provided technical support to the Development Committee Chair in crafting the directions of the strategy. The meeting concluded with the Development Committee moving forward with the 5-5-5 Development Strategy: it will start with country studies, country strategy development, and subsequent mobilization of support from ICMIF and development organizations, with the ultimate aim of expanding outreach of mutual microinsurance to 5 million, in 5 countries within 5 years.
The Philippines was selected as one of the emerging markets for development of inclusive mutual insurance, along with India, Kenya, Sri Lanka, and one country from Latin America. The Philippines and India will move ahead in doing country diagnostics and strategy development.
Dr. Jaime Aristotle Alip, RIMANSI’s Chairman Emeritus, is the Development Committee Chair of ICMIF, UK.
