The  Bangko  Kabayan  Experience      Atty. Francis Ganzon

President  

2012 RBAP-MABS National Roundtable Conference June 7-8, 2012

Hyatt Hotel & Manila  

Session  7:            Transforming MI from Service to Business  

Successful Partnerships in Microinsurance

Key decision points in choosing partner-insurer

Quality Delivery

Price

Product-Market

Fit

✓  benefits are tailor-fit according to clients’ needs ✓  features (such as inclusion of family members) are comparable to what the competition offers ✓  minimal requirements

✓  claims paid within 5 days or less upon submission of requirements ✓  instant abuloy is given within 24 hours upon notification of death

✓  very affordable for clients ✓  flexible pricing (per unit)

Key decision points in choosing partner-insurer

Appropriate Organizational Structure

✓  dedicated unit for microinsurance

Aligned Vision - Mission

✓  providing products and services for individuals and families in the countryside

successful?

What makes the

Close coordination between bank and

partner-insurer

Sufficient knowledge of the

market being served

Mutual trust between two parties

Benefits for banks offering microinsurance

✓  Competitive advantage ✓  Client retention ✓  Commission income

Microinsurance for Bangko Kabayan Clients

5500

5600

6783

1000 2000 3000 4000 5000 6000 7000 8000

2009

2010

2011

Number of insured microfinance clients!

128 medical reimbursements Php 189,518.11 total amount claimed

96 death claims Php 4.08 M total amount claimed

Thank you.