The Microinsurance Network, a member-based platform of approximately 60 organizations interested in advancing the development and distribution of insurance products for low-income households, has recently released an overview of its 2010 activities. These include the development and publication of 11 social performance indicators by the Performance Indicators Working Group; the launch of the Microinsurance Technology Inventory, an online database that provides insight into the use of technology for microinsurance; and enhancement of the organization’s website.
The network also organized the 6th International Microinsurance Conference, which was held in Manila in November, and the June Member Meeting that was held in Germany [1]. Both of these events included work to develop guidelines for industry regulation and consumer protection.
Four new members of the seven member executive committee, which is headed by Craig Churchill of the International Labor Organization’s (ILO) Microinsurance Innovation Facility, have been appointed for 2011 to guide the Microinsurance Network in its activities. Over the coming year, the network aims to increase its member base, to further integrate members through knowledge sharing and to continue to support its working groups in addressing challenges faced by the microinsurance sector. The 2011 International Microinsurance Conference will be held in Rio de Janeiro, Brazil.
Founded in 2009, the Microinsurance Network partners with International Labour Organization (ILO), Appui au Développement Autonome (ADA) and Munich Re Foundation, and it collaborates with the International Association of Insurance Supervisors (IAIS) to assist in the supervision, policy and regulation of the microisurance sector.
By: Medha Ravi, Research Associate
About The Microinsurance Network:
Hosted by Appui au Développement Autonome (ADA) of Luxembourg and officially launched in 2009, the organization aims to promote the development of good-value insurance products for low-income populations by providing a platform for information sharing and stakeholder coordination through its 60 member organizations.
About Appui au Développement Autonome (ADA):
Founded in 1994, Appui au Développement Autonome (ADA) is a nonprofit organization based in Luxembourg. ADA’s activities include developing new financial products, assisting in the capacity building of microfinance institutions (MFIs) and improving information on and awareness of microfinance activities. As of 2007, ADA manages an annual budget of approximately EUR 3 million (USD 4.4 million) and works with approximately 25 MFIs across 3 continents.
About the International Labor Organization (ILO):
The International Labour Organization (ILO), founded in 1919, is an agency of the United Nations, a humanitarian organization promoting peace and better living standards. The objective of ILO is to advance opportunities for men and women to obtain decent and productive work in conditions of freedom, equity, security and human dignity. Its founding mission is that labor peace is critical to prosperity.
About the International Labor Organization’s (ILO) Microinsurance Innovation Facility:
The Microinsurance Innovation Facility is a program conducted by the International Labor Organization (ILO), an agency of the United Nations. The facility was founded in 2008 with support from the Bill & Melinda Gates Foundation, a charitable organization. The facility attempts to increase access to insurance for the poor by providing grants to organizations that develop innovations in microinsurance. The facility prioritizes insurance related to agriculture, health, life and property. Its grantees include CARE Foundation, Microfinance Opportunities, Protecta, and Freedom from Hunger.
Source and Resources:
[1] The Microinsurance Network Press Release: “Microinsurance Network: Working together for responsible insurance services to the poor”, http://www.microinsurancenetwork.org/file/MiN_PR_Review_of_2010.pdf
MicroCapital.org story, December 11, 2010: “MICROCAPITAL BRIEF: Munich Re Foundation, Microinsurance Network Publishes Proceedings of 6th International Microinsurance Conference in Manila, Philippines”, https://www.microcapital.org/microcapital-brief-munich-re-foundation-microinsurance-network-publishes-proceedings-of-6th-international-microinsurance-conference-in-manila-philippines/
MicroCapital’s Microfinance Universe profile: The Microinsurance Network, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=The+Microinsurance+Network
MicroCapital’s Microfinance Universe profile: Appui au Développement Autonome (ADA), https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Appui+au+D%C3%A9veloppement+Autonome+%28ADA%29
MicroCapital’s Microfinance Universe profile: The International Labour Organization (ILO), https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=International+Labour+Organization+%28ILO%29
MicroCapital’s Microfinance Universe profile: International Labor Organization’s (ILO) Microinsurance Innovation Facility, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=International+Labour+Organization%E2%80%99s+%28ILO%29+Microinsurance+Innovation+Facility
Browse the MicroCapital Universe and add your entry to the wiki at: https://www.microcapital.org/microfinanceuniverse/
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