Microinsurance Databank - Munich Re Foundation - ?· Microinsurance Databank: ... Data Bank for Microinsurance…

Download Microinsurance Databank - Munich Re Foundation - ?· Microinsurance Databank: ... Data Bank for Microinsurance…

Post on 02-Aug-2018

212 views

Category:

Documents

0 download

Embed Size (px)

TRANSCRIPT

<ul><li><p> Microinsurance Databank: Catalyzing growth through a live market dashboard </p><p> Rupalee Ruchismita Executive Director </p><p> Centre for Insurance and Risk Management (CIRM) </p><p> 6th International Microinsurance Conference Manila </p><p>9-11 November </p></li><li><p>Agenda </p><p>Why: Motivation for the Databank </p><p>What is Microinsurance Map (MiM)? </p><p>Putting It All Together </p><p>Analysis: The Story in the Data </p><p>Going forward </p><p>Benefits </p></li><li><p>Agenda </p><p>Why: Motivation for the Databank </p><p>What is Microinsurance Map (MiM)? </p><p>Putting It All Together </p><p>Analysis:The Story in the Data </p><p>Going Forward </p><p>Benefits </p></li><li><p>Catalyzing MI Growth </p><p> Sustainable MI growth needs Capital </p><p> Distribution models </p><p> Information </p></li><li><p>Catalyzing MI Growth Need For Information in Microinsurance </p><p> Absence of risk data: Lack of actuarially sound pricing </p><p> Regional health morbidity, livestock breed and disease data missing </p><p> Inability to foray into new risk areas Vicious cycle: Conservative high price - Attracting high risk clients - High claims: escalation of premium costs </p><p> Absence of Market data: Isolated innovations without replication Limited efforts at recording and assessing efficacy of insurers MI </p><p>strategy Parallel efforts by intermediaries to compare and choose products in </p><p>the market </p></li><li><p>Drawing a Parallel: The MiX Precedence </p><p> 10 years ago, microfinance was in a similar state as Microinsurance is </p><p>today </p><p> MiX Market is a global, web-based, microfinance information platform </p><p> A dashboard of financial, operational and social performance data </p><p> Standardises data based on international accounting standards </p><p> A trusted, independent and accessible source </p><p> Today 1,800 MFIs report to MiX Market. It has 200 partners </p><p>The Microfinance proof and the Microinsurance potential </p><p>Inspired us to create a National (India) Data Bank for Microinsurance </p></li><li><p>Core Objective of the Databank </p><p>Access to market level data, contributes to: </p><p> Improved transparency leading to self regulation of market </p><p> Sharing of best practices seamlessly </p><p> Key Value </p><p> Tool to spearhead innovation and greater outreach </p><p> Better planning by regulator for catalysing Microinsurance </p><p>sector growth </p></li><li><p>Agenda </p><p>Why: Motivation for the Databank </p><p>What is Microinsurance Map (MiM)? </p><p>Putting It All Together </p><p>Analysis: The Story in the Data </p><p>Going Forward </p><p>Benefits </p></li><li><p>Microinsurance Map A publicly available MI Data Bank comprising industry and risk data </p><p>Partners: Micro Insurance Innovation Facility, ILO </p><p>PresenterPresentation NotesraRegulation</p></li><li><p>Agenda </p><p>Why: Motivation for the Databank </p><p>What is Microinsurance Map (MiM)? </p><p>Putting It All Together </p><p>Analysis: The Story in the Data </p><p>Going Forward </p><p>Benefits </p></li><li><p>Target Client </p><p>Urban Rural </p><p>Non-LIG LIG* LIG Non-LIG </p><p>Prod</p><p>uct F</p><p>iling</p><p> (R</p><p>egul</p><p>ator</p><p>) Products under Rural and Social </p><p>Sector Obligation </p><p>1 2 3 4 </p><p>Products under Microinsurance </p><p>Act 2005 </p><p>5 6 7 8 </p><p>Defining the Space </p><p>1. MiM relies on Industry data reported under IRDA regulation (as under MI Act 2005 and under the Rural and Social Obligations) </p><p>2. Under the IRDA regulations, reported data includes products served to RED PLUS GREEN 3. Hence, Microinsurance Maps also presents data for RED PLUS GREEN 4. Ideally it should report for products offered to GREEN * LIG: Low Income Groups * IRDA: Insurance Regulatory and Development Authority </p></li><li><p>Data Collection A publicly available MI Data Bank comprising industry and risk data </p><p>Market Data Regulator Industry Associations Insurers - public and private, life and general Mutuals and intermediaries - MFIs, Cooperatives, NGOs, input and output suppliers (on going) </p><p>Sources </p><p>Risk data on regional basis </p><p> Indian Meteorological Department, Central Water Commission, Actuaries </p><p>Association of India, Govt. Dept. of </p><p>Agriculture, National Remote Sensing </p><p>Centre, Agriculture Universities </p><p> Veterinary Universities </p><p>PresenterPresentation NotesraRegulation</p></li><li><p>Data Collection (contd.) A publicly available MI Data Bank comprising industry and risk data </p><p> Agri crop data: variety, cropping </p><p>season and period, acreage, primary </p><p>risk (meteorological, pest and practice </p><p>related) </p><p> Cattle: Breed, primary risks, mortality </p><p>rates, productivity factors </p><p> Health: To be defined in March 2011 </p><p>Organizational Profile Microinsurance business </p><p> Premia - value, volume over time and region Claims experience - settled, repudiated, time taken over time and region Gender break up of client over time, region and product category </p><p>Product portfolio: for every product All of the above Coverage - exclusions, discounts Distribution and sales strategy </p><p>Data categories </p><p>PresenterPresentation NotesraRegulation</p></li><li><p>Data Collection (contd.)Industry Data Benefits Product 1 Product 2 </p><p>Life</p><p> Death Maturity Surrender </p><p>Hea</p><p>lth/</p><p>Pers</p><p>onal</p><p> Acc</p><p>iden</p><p>t </p><p> In-patient Hospitalization Outpatient care Major surgical benefit Critical illness benefit Maternity benefit Domiciliary treatment Accidental medical expenses Legal expenses Laboratory tests Medicines Pre-existing diseases Day Care Co-Payment No Claim Benefit Transportation charges </p></li><li><p>Data Collection (contd.)Industry Data Benefits Product 1 Product 2 </p><p>Live</p><p>stoc</p><p>k </p><p> Permanent Total Disablement </p><p> Temporary Total Disablement </p><p> Permanent Partial Disablement </p><p> Temporary Partial Disablement </p><p>Wea</p><p>ther</p><p> Area Yield </p><p> Crop loss due to High/Low Rain </p><p> Crop loss due to High/Low Tempertaure </p><p> Crop loss due to Diseases </p></li><li><p>Sourcing Data </p><p>Market information </p><p> Secondary sources (Public </p><p>Institutions, regulator, Govt., etc) </p><p> Primary data sources (in-depth </p><p>surveys of insurers, quantitative </p><p>and qualitative ) </p><p> Lack of willingness to share data (no </p><p>institutional incentive identified) </p><p> Lack of granular/disaggregated data </p><p>availability </p><p>1. Identifying sources of data </p><p>Asset information </p><p> Specialized data warehouses </p><p>(Indian Meteorological Department, </p><p>Central Water Commission, </p><p>Actuaries Association of India, etc) </p><p>Challenges </p><p>PresenterPresentation NotesIs the data collection process reliableWhat are the Scientific mechanisms used to weed out junk data ?</p></li><li><p>Sourcing Data (contd.) </p><p> Standardization required to merge data from disparate sources </p><p> Clean up to validate incomplete and erroneous data </p><p> Acquired data to meet minimum quality levels for usability </p><p> Most insurers and intermediaries do not have data in organized form </p><p> Data validation by the provider rarely possible </p><p> Data shared in bits-n-pieces and data elements not in sync in time leading to substantial delay in putting it to use </p><p>2. Data Acquisition </p><p> Periodically updating data elements to maintain relevance of data bank </p><p> Frequency of data updation dependant on data type </p><p> Frequency of data limited by </p><p>available resources </p><p>3. Updates </p><p>Challenges </p><p>Challenges </p><p>PresenterPresentation NotesIs the data collection process reliableWhat are the Scientific mechanisms used to weed out junk data ?</p></li><li><p>Agenda </p><p>Why: Motivation for the Databank </p><p>What is Microinsurance Map (MiM)? </p><p>Putting It All Together </p><p>Analysis: Outputs from MiM </p><p>Observations The Story in the Data </p><p>Benefits </p></li><li><p>Microinsurance Map: Trends and Maps </p><p> Market Trends: Outreach </p><p> Provider Profile </p><p> Product feature comparison </p><p> Government sponsored insurance schemes </p><p> Best practices </p><p> Asset based data outputs and tools: Agriculture: Crop variety based Premium Calculators at an agro-</p><p>meteorological unit </p><p> Cattle: Valuation based on breed and region </p><p>PresenterPresentation NotesThe slide should be exhaustive in terms of capturing categories of report but not in capturing all combinations</p></li><li><p>Stakeholder Value: Solutions for Insurers </p><p>Use Disaggregated region specific risk data to develop actuarially sound </p><p>product pricing Market insight for development of outreach strategies competitor </p><p>and profitability analysis, exposure to innovative product and processes </p><p> Benefit Public platform to market products, find potential intermediaries, new </p><p>relations (IT providers, TPAs) Plan market entry based on a range of factors- geographical, </p><p>distribution models, risk specific and competitor based analysis Market assessment Updated about sector news; Trend analyses </p><p>(over years, regions, risk type and market players) Own portfolio monitoring, analysis and tracking </p></li><li><p>Stakeholder Value: Solutions for Intermediaries (Co-ops, NGOs, MFI) </p><p>Use Reports to compare pricing and features of own product by various </p><p>criteria (region, risk type and insurer, premium and claims) Benefit Use sector best practices to measure own and partners (insurer) </p><p>service quality Improve own visibility to find partners Assess insurers based on products and performance </p></li><li><p>Stakeholder Value: Solutions for Policy Makers </p><p>Use Monitor impact of regulation on providers and products Benefit Create industry benchmarks on product, process and service quality Identify early trends (sectorally and also for specific providers and </p><p>risk categories) to respond accordingly Make proactive regulation and policy for underserved regions and </p><p>track its impact on the market </p></li><li><p>Agenda </p><p>Why: Motivation for the Databank </p><p>What is Microinsurance Map (MiM)? </p><p>Putting It All Together </p><p>Analysis: The Story in the Data </p><p>Going Forward </p><p>Benefits </p></li><li><p>The Features </p><p> Outputs- Static and dynamic market snapshots </p><p> Examples: </p><p> Volumes, value, risk category </p><p>(life, non-life), ownership </p><p>(public, private) </p><p> Claim status (amount &amp; number </p><p>settled and repudiated) </p><p> Geographical Coverage </p><p> Product Features </p><p>Public v/s Private cumulative premium </p><p>Companies v/s Premium Amount </p><p>Agronomy report for a region </p><p> Map based output </p><p> District level Premium </p><p>Calculators </p><p> Agronomy reports </p><p> Cattle risk reports, </p><p> Health Morbidity </p><p>reports (in 2011) </p></li><li><p>Growth: New Products registered Rural, Social &amp; Microinsurance growth: Public &amp; Private </p><p>0 </p><p>2 </p><p>4 </p><p>6 </p><p>8 </p><p>10 </p><p>12 </p><p>14 </p><p>2001-02 2002-03 2003-04 2004-05 2006-07 2007-08 2008-09 2009-10 </p><p>Cou</p><p>nt </p><p>Financial Year </p><p>Private </p><p>Public </p></li><li><p> Growth: (contd.) New Products registered </p><p>Rural, Social &amp; Microinsurance growth: Public &amp; Private </p><p>0 </p><p>10 </p><p>20 </p><p>30 </p><p>40 </p><p>50 </p><p>60 </p><p>70 </p><p>0 </p><p>2 </p><p>4 </p><p>6 </p><p>8 </p><p>10 </p><p>12 </p><p>14 </p><p>2001-02 2002-03 2003-04 2004-05 2006-07 2007-08 2008-09 2009-10 </p><p>Perc</p><p>enta</p><p>ge G</p><p>row</p><p>th </p><p>Cou</p><p>nt </p><p>Financial Year </p><p>Count </p><p>%age </p></li><li><p> Growth: (contd.) </p><p>Premium underwritten: Public &amp; Private (General Insurers) </p><p>0 </p><p>2000 </p><p>4000 </p><p>6000 </p><p>8000 </p><p>10000 </p><p>12000 </p><p>14000 </p><p>2008-09 2009-10 </p><p>INR</p><p> in M</p><p>illio</p><p>ns </p><p>Financial Year </p><p>Private </p><p>Public </p></li><li><p> Growth: (contd.) </p><p>in Premium (General Insurers) Company-wise Premium underwritten </p><p> - </p><p> 1.000 </p><p> 2.000 </p><p> 3.000 </p><p> 4.000 </p><p> 5.000 </p><p> 6.000 </p><p> 7.000 </p><p> 8.000 </p><p> 9.000 </p><p> 10.000 St</p><p>ar H</p><p>ealth</p><p> and</p><p> Alli</p><p>ed In</p><p>sura</p><p>nce </p><p>The </p><p>Orie</p><p>ntal</p><p> Insu</p><p>ranc</p><p>e </p><p>Uni</p><p>ted </p><p>Indi</p><p>a In</p><p>sura</p><p>nce </p><p>Nat</p><p>iona</p><p>l In</p><p>sura</p><p>nce </p><p>The </p><p>New</p><p> Indi</p><p>a As</p><p>sura</p><p>nce </p><p>Cho</p><p>lam</p><p>anda</p><p>lam</p><p> Ms </p><p>Gen</p><p>eral</p><p> In</p><p>sura</p><p>nce </p><p>Rel</p><p>ianc</p><p>e G</p><p>ener</p><p>al I</p><p>nsur</p><p>ance</p><p>Futu</p><p>re G</p><p>ener</p><p>alli </p><p>Indi</p><p>a </p><p>Iffco</p><p> Tok</p><p>io G</p><p>ener</p><p>al In</p><p>sura</p><p>nce </p><p>Bha</p><p>rti A</p><p>XA G</p><p>ener</p><p>al In</p><p>sura</p><p>nce </p><p>Roy</p><p>al S</p><p>unda</p><p>ram</p><p> Alli</p><p>ance</p><p> In</p><p>sura</p><p>nce </p><p>ICIC</p><p>I Lom</p><p>bard</p><p> Gen</p><p>eral</p><p> Insu</p><p>ranc</p><p>e </p><p>Apol</p><p>lo M</p><p>unic</p><p>h H</p><p>ealth</p><p> Insu</p><p>ranc</p><p>e </p><p>HD</p><p>FC E</p><p>RG</p><p>O G</p><p>ener</p><p>al In</p><p>sura</p><p>nce </p><p>Shrir</p><p>am G</p><p>ener</p><p>al In</p><p>sura</p><p>nce </p><p>Baj</p><p>aj A</p><p>llian</p><p>z G</p><p>ener</p><p>al In</p><p>sura</p><p>nce </p><p>Tata</p><p> AIG</p><p> Gen</p><p>eral</p><p> Insu</p><p>ranc</p><p>e </p><p>Rah</p><p>eja </p><p>QB</p><p>E G</p><p>ener</p><p>al I</p><p>nsur</p><p>ance</p><p>Agric</p><p>ultu</p><p>re In</p><p>sura</p><p>nce </p><p>Com</p><p>pany</p><p>Expo</p><p>rt C</p><p>redi</p><p>t Gua</p><p>rant</p><p>ee </p><p>Cor</p><p>pora</p><p>tion </p><p>of In</p><p>dia </p><p>Uni</p><p>vers</p><p>al S</p><p>ompo</p><p>INR</p><p> in M</p><p>illio</p><p>ns </p><p>General Insurers </p><p>2008-09 </p><p>2009-10 </p></li><li><p> Claims Performance </p><p> Microinsurance Portfolio (2007-08 &amp; 2008-09) </p><p>0 </p><p>20000 </p><p>40000 </p><p>60000 </p><p>80000 </p><p>100000 </p><p>120000 </p><p>140000 </p><p>160000 </p><p>180000 </p><p>2007 2008 2007 2008 </p><p>Claims Paid No. of Lives </p><p>INR</p><p> in M</p><p>illio</p><p>ns </p><p>Financial Year vs No. of Lives </p><p>Public </p><p>Private </p></li><li><p>Risk wise patterns: Agriculture Insurance Company of India: </p><p>Premium underwritten (2005-06 to 2009-10) </p><p> 5.558 5.647 </p><p> 8.351 8.334 </p><p> 15.204 </p><p> - </p><p> 2.000 </p><p> 4.000 </p><p> 6.000 </p><p> 8.000 </p><p> 10.000 </p><p> 12.000 </p><p> 14.000 </p><p> 16.000 </p><p>2005-06 2006-07 2007-08 2008-09 2009-10 </p><p>INR</p><p> in M</p><p>illio</p><p>ns </p><p>Financial Year </p></li><li><p>Risk wise patterns (contd.) Performance of Govt. Health Schemes </p><p>Govt. Schemes Outreach (in Millions) </p><p>RSBY- National 19.69 (BPL Families) </p><p>Aarogyashri State Specific 3.75 (BPL Families) </p><p>Kalaignar State Specific 1.4 (BPL Families) </p></li><li><p>Risk wise patterns (contd.) Performance of Govt. Health Schemes: RSBY </p><p> 60 </p><p> 49 </p><p> 39 45 </p><p> 60 </p><p> 50 48 45 </p><p> 18 </p><p> 60 56 </p><p> 31 </p><p> 57 </p><p> 75 </p><p> 53 </p><p> 67 </p><p> 32 39 </p><p> 64 67 </p><p> 15 </p><p> 49 56 </p><p> 46 </p><p> - </p><p> 10 </p><p> 20 </p><p> 30 </p><p> 40 </p><p> 50 </p><p> 60 </p><p> 70 </p><p> 80 </p><p>0,00 </p><p>2,00 </p><p>4,00 </p><p>6,00 </p><p>8,00 </p><p>10,00 </p><p>12,00 </p><p>Ass</p><p>am </p><p>Bih</p><p>ar </p><p>Cha</p><p>ndig</p><p>arh </p><p>Chh</p><p>attis</p><p>garh</p><p> D</p><p>elhi</p><p> G</p><p>oa </p><p>Guj</p><p>arat</p><p> H</p><p>arya</p><p>na </p><p>Him</p><p>acha</p><p>l Pra</p><p>desh</p><p> Jh</p><p>arkh</p><p>and </p><p>Kar</p><p>nata</p><p>ka </p><p>Ker</p><p>ala </p><p>Mah</p><p>aras</p><p>htra</p><p> M</p><p>anip</p><p>ur </p><p>Meg</p><p>hala</p><p>ya </p><p>Miz</p><p>oram</p><p> N</p><p>agal</p><p>and </p><p>Oris</p><p>sa </p><p>Pun</p><p>jab </p><p>Tam</p><p>ilnad</p><p>u Tr</p><p>ipur</p><p>a U</p><p>ttar P</p><p>rade</p><p>sh </p><p>Utta</p><p>rakh</p><p>and </p><p>Wes</p><p>t Ben</p><p>gal </p><p>Perc</p><p>enta</p><p>ge o</p><p>f Fam</p><p>ilies</p><p> Cov</p><p>ered</p><p>No.</p><p> of F</p><p>amili</p><p>es in</p><p> Mill</p><p>ions</p><p>States </p><p>RSBY Scheme : Families Covered </p><p>Total BPL Families BPL Families enrolled till Date %age Families Reached </p></li><li><p>Agenda </p><p>Why: Motivation for the Databank </p><p>What is Microinsurance Map ? </p><p>Putting It All Together </p><p>Analysis: The story in the data </p><p>Going Forward </p><p>Benefits </p></li><li><p>Going Forward </p><p> A site overview: www.microinsurancemap.com Completing data collection process Launching product comparison matrix Creating incentives for periodic updates </p><p> Expanding Agriculture risk maps nationally Launching Cattle Risk maps in one state Initiating Data collection of Health risk Maps </p><p>http://www.microinsurancemap.com/</p></li><li><p> Thank You </p><p>Please visit us at http://www.ifmr.ac.in/cirm </p><p> Our Blog Safety Nets for all </p><p>http://www.ifmr.ac.in/cirm/blog </p><p>http://www.ifmr.ac.in/cirmhttp://www.ifmr.ac.in/cirm/blog</p></li><li><p>Click here to generate basic information report </p><p>Advanced Report Selection </p></li><li><p>Advanced Report Query Selection Page </p></li><li><p>Queries Selected </p></li><li><p>Queries Selected </p><p>Public vs Private </p></li><li><p>Graphical Report generated </p><p>Sample Snapshot: Public v/s Private Premium </p></li><li><p>Sample Snapshot (contd.): Companies v/s Premium </p><p>Graphical Report generated </p></li><li><p>Sample Snapshot (contd.): Agronomy Report </p></li><li><p>Choose desired state of India (Tamilnadu) </p></li><li><p>Choose desired district of Tamilnadu </p><p>(Thanjavur) </p></li><li><p>Choose desired block in Thanjavur district </p><p>(Papanasm) </p></li><li><p>Right click on Papanasm to open block information window </p></li><li><p>Choose type of crop category for which info is desired </p><p>(Cereals) </p></li><li><p>Choose type of crop for which info is desired </p><p>(Paddy) </p></li><li><p>Choose type of crop variety for which info is desired </p><p>(Kuruvai Paddy) </p></li><li><p>Agronomy report for kuruvai paddy can be downloaded from this link </p></li><li><p>List of rural, social &amp; Microinsurance products Acts &amp; Regulations in Microinsurance </p><p>Pre-defined Report Links (Market Information) </p><p>Pre-defined Report Links (Risk Information) </p><p>Click here to go to market information page </p><p>Click here to go to risk information page </p></li><li><p>Database Capabilities </p><p> Micro Insurance Map database is scalable and reliable and can easily handle data for multiple countries. </p><p> Database design is done in such a manner data can be managed by administrative boundaries at all levels. </p><p> Other core capabilities of the database Supports transactions integrity checks less data redundancy fundamental organization and operations handled by the DB multi-user support security/access control Locking backups </p></li><li><p>Technology Platform </p><p>November 16, 2010 </p><p> Micro Insurance Map have been completely developed using open source tools Language : Java/J2EE Web Server : Apache Tomcat Map Server : GeoServer Data

Recommended

View more >