The Canadian Co-ooperative Association (CCA)-supported project Micro-insurance and Women’s Microenterprises (Bagong Araw PREMIUM Project) is on smooth implementation. The latest breakthrough for this project is the hiring of Mr. Terrence Narine as International Actuarial Consultant.
The initial stage of this endeavour is the study visit by Mr. Narine last September 11 to 23, 2016. After his orientation at the Mi-MAP head office, he proceeded with his immersion to various MBAs. He had his first meeting with the Center for Agriculture and Rural Development (CARD) Mutual Benefit Association, Inc. in San Pablo, Laguna which included a courtesy visit to Dr. Jaime Aristotle Alip, Chairman Emeritus of Mi-MAP and CARD Founding Chairman. His next stop was at the Center Alliance for Responsive Endeavor (CARE) MBA in Lucena where he also talked to the management of St. Jude Multi-Purpose Cooperative. Kasagana-Ka Mutual Benefit Association, Inc. (KMBA) was the last group met by Mr. Narine. His itinerary also included center visits. These MBA Center visits aimed to give Mr. Narine first-hand information about the dynamics of member MBAs operations.
Mr. Narine`s initial study visit also paved way for other discussions. He met with the Insurance Commission, CARD Pioneer Microinsurance Inc. (CPMI), and Mi-MAP`s actuarial staff. He was also a resource person at the Enterprise Risk Management Learning Session and Program last September 21, 2016.
The viability analysis of the non-life insurance product that is being developed is expected to be executed shortly after this endeavour.