marketing microinsurance: insights in five countries

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

2

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

MODERATOR

Karen Miller,

Chief Knowledge

and

Communications

Officer, Women’s

World Banking

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3

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 AFRICA

Countries: 5

Institutions: 5

SUB-SAHARAN AFRICA

Countries: 9

Institutions: 10

ASIA

Countries: 6

Institutions: 12

LATIN AMERICA AND

THE CARRIBEAN

Countries: 7

Institutions: 10

EUROPE

Countries: 1

Institutions: 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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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 market

Awareness and perception of insurance

Perception Negative Neutral Positive

Aw

are

ne

ss

Hig

hLow

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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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