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MicroinsuranceProduct Innovations

01

02

030405

06

Pioneer

Microinsurance in The Philippines

Distribution Partners

Products

Product vs Program

Other value propositions

Geric LaudePresident & CEO CARD Pioneer

Microinsurance Inc.Head of Microisurance Pioneer

Group of Insurance Companies

20,000,000

18,000,000

16,000,000

14,000,000

12,000,000

10,000,000

8,000,000

6,000,000

4,000,000

2,000,000

2009 2010 2011 2012 2013 2014 2015 2016

Introduction to

Pioneer

Gross Premiums Written and Enrolments

Premiums

Enrolments

Premiums (USD)

Enrolments

91,485

20,166

566,835

103,190

996,143

265,889

2,479,656

610,650

3,509,636

773,167

4,251,710

947,774

10,872,108

7,801,495

18,536,440

18,071,358

MicroinsuranceIn the PhilippinesPremium 365 days * 7.5% * PHP 491.00Premium USD 270.00 (PHP13,500)

Benefit 1000 * PHP 491.00Benefit USD 9,820.00 (PHP491,000)

Distribution Partners

MFIs Cooperatives Rural Banks NGOs

Associations Church Groups Labor Groups Any group that delivers products and services for

the poor

ProductsWe tailor-fit products depending on the needs and budget of the partner.

We design products for both individuals and families.

Life / Burial

Accident

Health

Property Assistance

Motor

Crop

Credit Life*

Product vs Program

Enrollment Collection Claims Education Concerns Handling

Enroll?

Collect?

Pay Claims?

Educate?

Handle Concerns?

Unique Features

2 Variants: Family and IndividualCalamity CoverVoluntary product

Thru Microinsurance Agents (MIAs)MIAs have tablets to enrollPremium can be loaned from MFI

If cash, thru the MIAs, lumpsum paymentIf loans, MIF staff collects weekly

1-3-5 Claims StandardThru partners officesThru pawnshops via money transfer

Weekly meetings at CentersWord of Mouth using influencersAudio plugs using MP3 playersPosters, brochures, visual enrolment forms

Partner staffs, MIAsVoice of the Customer system

Product vs Program

Enroll?

Collect?

Pay Claims?

Educate?

Handle Concerns?

Unique Features

Should be sold to groupsMin of 3 (if members of MFI) & 10 in a groupVoluntary productNo Calamity Cover except for Fire

Thru Microinsurance Agents (MIAs)MIAs have tablets to enrollPremium can be loaned from MFI

If cash, thru the MIAs, lumpsum paymentIf loans, MIF staff collects weekly

1-3-5 StandardThru partners officesThru pawnshops via money transfer

Weekly meetings at CentersWord of Mouth using influencersAudio plugs using MP3 playersPosters, brochures, visual enrolment forms

Partner staffs, MIAsVoice of the Customer system

Product vs Program

Enroll?

Collect?

Pay Claims?

Educate?

Handle Concerns?

Unique Features

Sold to members of MFI only, Individual coverVoluntary productPositioned as Loss of Income

Thru Microinsurance Agents (MIAs)MIAs have tablets to enrollPremium can be loaned from MFI

If cash, thru the MIAs, lumpsum paymentIf loans, MIF staff collects weekly

1-3-5 StandardThru partners officesThru pawnshops via money transfer

Weekly meetings at CentersWord of Mouth using influencersAudio plugs using MP3 playersPosters, brochures, visual enrolment forms

Partner staffs, MIAsVoice of the Customer system

Product vs Program

Enroll?

Collect?

Pay Claims?

Educate?

Handle Concerns?

Unique Features

PA & Fire CoverTerm: 4 monthsVery cheap, simple to explainCan have multiple coverage

Thru front liner staffs of the partner

Cash paymentLoyalty points

Claim payment within 5 daysThru partners branches

Thru front liner staffsPostersTV screens at branches of partner

Partner staffsPioneers hotline number

Product vs Program

Enroll?

Collect?

Pay Claims?

Educate?

Handle Concerns?

Unique Features

Comprehensive Package: Family Cover, Instant Abuloy, Burial Assistance, Accident, PA Med Reimbursement, Hospital Cash, CalamityLow limitsVoluntary (80%) take up rate

Thru Account Officers of partner

Deducted from loan releases

Claim payment within 5 daysThru partners branchesPawnshops

Thru front liner staffsBrochuresTraining of staffs

Partner staffsPioneers hotline number

Product vs Program

Product vs Program

Enroll?

Collect?

Pay Claims?

Educate?

Handle Concerns?

Unique Features

Family Cover, Instant Abuloy, Burial Assistance, Accident, PA Med Reimbursement, Hospital Cash, CalamityLow limitsMandatory to all Micro loan borrowers

Thru Account Officers of partner

Deducted from loan releases

Claim payment within 5 daysThru partners branches

Thru front liner staffsBrochuresTraining of staffs

Partner staffsPioneers hotline number

Product vs Program

Enroll?

Collect?

Pay Claims?

Educate?

Handle Concerns?

Unique Features

For Small businesses, specifically sari-sari storesHigh limits of PA and FireNo Underwriting requiredOffered via Wholesalers, MFIs, Mobile load distributors, FMCG dealers

Thru front liners and sales people of partners

Cash, Loyalty points rewards

Claim payment within 5 daysThru partners

Thru front liner staffsBrochuresTraining of staffs

Partner staffsPioneers hotline number

Product vs Program

Enroll?

Collect?

Pay Claims?

Educate?

Handle Concerns?

Unique Features

Easy to enroll, easy to explain, easy to claimNo Confinement neededHas budget variants

Thru front liners and sales people of partnersViberCall CenterBundled with partners productsPioneer branches

Cash, Loyalty points rewards

Claim payment within 5 daysThru partners

Thru front liner staffsBrochures, posters, billboardsTraining of staffs

Partner staffsPioneers hotline number

Product vs Program

What worked for us

Claims as the most important value proposition

Tailor-fitting of products to the needs of customers

Mindful that products are not only about benefits

Partners co-developing and co-owning their Microinsuranceprograms

MicroinsuranceProduct Innovations

Thank You

Geric LaudePresident & CEOCARD Pioneer Microinsurance Inc.Head of MicroisurancePioneer Group of Insurance Companiesgeric.laude@pioneer.com.ph

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