Marketing Microinsurance: Insights from Five CountriesFebruary 3, 2015
The Morocco, Egypt and Uganda projects benefit from the Agence Française de Développement support. The analysis, views and opinions expressed are those of the author and do not necessarily reflect the position of the Agence Française de Développement.
@womensworldbnkg
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Panelists
Fadi Al-Tawabini, Marketing and Business Development Manager, Microfund for Women
Hilary Nichols, Senior Associate, Product Development, Women’s World Banking
Cathleen Tobin, Director, Product Development, Women’s World Banking
MODERATORKaren Miller, Chief Knowledge and Communications Officer, Women’s World Banking
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Women’s World Banking’s Global Footprint
35+ years focused on women’s access to finance
21 million active clients
68% women
38 institutions
$8.5 billion in outstanding loan portfolio
$5.5 billion in deposits
MIDDLE EAST &NORTH AFRICACountries: 5Institutions: 5
SUB-SAHARAN AFRICACountries: 9Institutions: 10
ASIACountries: 6Institutions: 12
LATIN AMERICA AND THE CARRIBEANCountries: 7 Institutions: 10
EUROPECountries: 1Institutions: 1
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Key customer insights Hospitalization due to delivery is the event that matters most to women
Women prioritize the health of their family over their own health
The family policy cannot exceed 5JD ($7) per month
Key Product Features Benefit at 15JD per day for up to 30 days, with max of 48 days in policy period
No exclusions or limitations
Premium at 1 JD per month (negotiated down from 1.1 JD)
Mandatory enrollment for borrower only
Since 2012: Voluntary coverage for spouse & full family added at 1 JD per person
Results as of August, 2014 More than 97,000 active individual policies
36% claims rate, almost half of which were for pregnancy-related hospitalization
Microfund for Women has reported higher profits and increased client retention as a direct result of offering health microinsurance.
Microfund for Women: Ri’Aya: Meeting Client Needs
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MFW Ri’aya’s Brochure
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MFW: Investing in Consumer Education
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Marketing Microinsurance: Insights from Five CountriesFebruary 3, 2015
The Morocco, Egypt and Uganda projects benefit from the Agence Française de Développement support. The analysis, views and opinions expressed are those of the author and do not necessarily reflect the position of the Agence Française de Développement.
@womensworldbnkg
#marketingMI
8
Women’s World Banking microinsurance work worldwide
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Out-of-pocket costs differ from market to marketAccess to healthcare
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US$ 32.29
Out-of-pocket costs differ from market to marketAccess to healthcare
THE CASE IN UGANDA
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How communication needs differ from market to marketAwareness and perception of insurance
Perception Negative Neutral Positive
Aw
are
nes
sH
igh
Low
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FTB TrustCare Hospital Cash: Educate on insurance
Tayssir Al Amana: Focus on benefits, and reinforce the messages at several touch points
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Marketing Microinsurance: Insights from Five CountriesFebruary 3, 2015
The Morocco, Egypt and Uganda projects benefit from the Agence Française de Développement support. The analysis, views and opinions expressed are those of the author and do not necessarily reflect the position of the Agence Française de Développement.
@womensworldbnkg
#marketingMI
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