THE ICMIF FOUNDATION

Congratulations to CLIMBS Life and General Insurance Cooperative Official for being named one of the top four winners of the 2024 PREP Innovation Challenge! Selected from 64 inspiring submissions, CLIMBS was recognized for its innovative Weather Protect Insurance (WPI), demonstrating their commitment to protecting disaster-prone communities in the Philippines.   #CLIMBS #WeatherProtectInsurance #TheICMIFFoundation #ICMIF #Cooperatives #Coops #Mutuals #Microinsurance #InclusiveInsurance #SDGs #Resiliency 

How UNDP ICMIF IIC Project in Malawi is transforming lives in Mangulu Village Residents of Mangulu Village in Kasungu, Malawi, like Admson Saidi, once faced severe financial struggles to cover medical expenses, often resorting to loans, selling livestock, or parting with maize. This changed with the introduction of Abwenzi Rural Health Insurance through the support of the UNDP ICMIF Insurance Innovation Challenge (IIC). The insurance policy offers crucial financial support for cases of malaria, hospitalization, childbirth, permanent disability, and death for an annual premium of MK 12,000 (approx. 12 USD). Admson shares, "It resolved our financial problems for medical expenses, and we hope the support continues." Watch the video to learn more about how Abwenzi is transforming lives. #CICMalawi #UNDP_ICMIF_IIC #UNDP_IRFF #ICMIF #TheICMIFFoundation #Cooperatives #Coops #Mutuals #Microinsurance #InclusiveInsurance #Innovation #SDGs #Resiliency Video credit: CIC INSURANCE MALAWI

UNDP ICMIF IIC project partner CIC Insurance Group conducts Coopcare training in Kakamega KAKAMEGA, Kenya — CIC Insurance Group (Kenya) recently conducted a comprehensive training session for Coop Care Micro Health product champions and sales agents. Participants from various cooperatives, including Shiru Sacco, Sabatia West Sacco, and others, engaged actively in understanding the Coopcare product. Sammy Kiplimo, Assistant Manager of Business Development, Micro Insurance of CIC Kenya said, “The hands-on training ensured that all of the attendees were well-equipped with the knowledge needed to effectively promote and support the Coopcare product.”    This initiative is part of the ICMIF Foundation’s broader mission to support mutual and cooperative insurers in emerging markets to scale up innovative, affordable, and inclusive insurance products. #CICInsuranceGroup #CICKenya #Coopcare #UNDP_ICMIF_IIC #UNDP_IRFF #ICMIF #TheICMIFFoundation #Cooperatives #Coops #Mutuals #Microinsurance #InclusiveInsurance #Innovation #SDGs #Resiliency CIC Insurance Company

Meet the speakers: Parallel session 6 - The business case for the #cooperative and #mutual models in #Inclusive #Insurance This session will offer an in-depth exploration of the co-operative and mutual model in inclusive insurance, with a particular focus on the motivations, challenges, lessons learned, and strategies employed by insurers entering the inclusive insurance market. Case studies highlighting the experiences of successful co-operative and mutual insurers will be featured. In addition, the recently launched projects from the UNDP-ICMIF Insurance Innovation Challenge (IIC) will also be presented. The session will highlight the following key areas:  1. What are the key ingredients for the success of co-operative and mutual insurance?  2. How are the experiences of successful co-operative and mutual insurers shared with IIC project partners?  3. What can the wider inclusive insurance sector take from the experience of co-operative and mutual insurers? Ahila Devi Subramanian JUN JAY PEREZ yasaranga Godawela Zachary Wambugu UNDP #ICII2024 https://lnkd.in/d4zSZegm The #ICII2024 will take place from 21-25 October 2024 in Kathmandu, #Nepal. 400+ experts from 50+ countries will discuss and identify ways of accelerating growth and #economic #viability for households in inclusive insurance for emerging markets. The conference will be hosted by the NEPAL INSURANCE AUTHORITY (Insurance Regulatory), Nepal Insurers' Association, Nepal Microinsurance Association and the Life Insurance Association of Nepal in cooperation with Munich Re Foundation and The Microinsurance Network. REGISTER NOW! #microinsurance #sdgs #climate #insurancefordevelopment

Congratulations to Asanka from SLIC (Sri Lanka) for completing the DHAN Foundation ART Course on Mutual Insurance! The ICMIF Foundation is pleased to announce that P.G. Asanka Gayan, Senior Manager of Product Development at SANASA Life Insurance Co. PLC has successfully completed the DHAN Foundation's International Course on Advanced Reflective Education and Training (ART) on Mutual Insurance in Madurai, India.  This intensive course, held from 10 to 13 September 2024, concentrated on creating insurance solutions tailored to underserved communities including a field visit. Over these four days, Asanka participated in in-depth discussions on how to build risk resilience and mutual insurance product design, gaining valuable insights from field visits and interactive sessions with DHAN’s network. With this knowledge, he is now well-positioned to develop affordable, customizable insurance products that can significantly benefit these communities. Dhan’s experience in integrating social capital and establishing risk resilience mechanisms has provided new ideas on crafting impactful and sustainable solutions.  He said, "During the last few days I have been able to experience first-hand key fundamentals required to address insurance gaps for underserved populations for the long term, especially regarding health and life risks. For example, traditional insurers often impose age limits for coverage, but the mutual insurance model offers a different approach including providing coverage options for older individuals who might otherwise be excluded. I am grateful for this unique opportunity provided by the UNDP ICMIF IIC." A follow-up meeting between Dhan Foundation and SLIC was held on Saturday, 14 September, to identify areas of further cooperation and exchanges between the two companies. #SanasaLifeInsurance #DHANFoundation #UNDP_ICMIF_IIC #UNDP_IRFF #ICMIF #TheICMIFFoundation #Cooperatives #Coops #Mutuals #Microinsurance #InclusiveInsurance #Innovation #SDGs #Resiliency Photo credit: Ahila Devi Subramanian / Dhan Foundation

Day 1 Highlights: IIC Partner SLIC attending Dhan Foundation's International ART Course September 10, 2024, Mr. Palliye Guruge Asanka Gayan, Senior Manager of Product Development at SANASA Life Insurance Co. PLC, attended the first day of the DHAN Foundation's International Course on Advanced Reflective Education and Training (ART) on Mutual Insurance in Madurai, India. On this day of the course, participants engaged in two key modules. Module One focused on Social Capital for Mutual Insurance, while Module Two delved into the principles of Mutuality and Microinsurance. Key topics covered included managing risks for the poor, non-financial risk management, mutual insurance landscapes, and both life and health mutual insurance. Asanka noted that these sessions offered valuable insights into the unique challenges faced by underserved communities, particularly regarding life and health risks. He said: “I aim to delve deeper into these factors to design life insurance products for less-privileged communities that are affordable, customizable, appropriate, and well-informed. I anticipate that by the end of this course, I will gain a comprehensive understanding to effectively address these needs." #SanasaLifeInsurance #DHANFoundation #UNDP_ICMIF_IIC #UNDP_IRFF #ICMIF #TheICMIFFoundation #Cooperatives #Coops #Mutuals #Microinsurance #InclusiveInsurance #Innovation #SDGs #Resiliency Photo credit: Dhan Foundation and Mr. Asanka Gayan

Congratulations to Steve Leicester and Liam Carter for completing an incredible 500-km charity cycle in just 5 days! Your dedication and effort in supporting the DHAN Foundation and raising the profile of the ICMIF Foundation are truly inspiring. Thank you for your remarkable contribution! #TheICMIFFoundation #ICMIF #DhanFoundation #ICMIFStaffBikeRide

Celebrating 25 Years of Trust and Empowerment with CARD MBA! Congratulations to CARD MBA on their remarkable 25 years of transforming lives and fostering financial inclusion in the Philippines! As of 30 June 2024, CARD MBA (a member of CARD MRI) has insured over 24.3 million individuals through its 7.7 million active members, consistently serving as a pillar of support for Filipino families. Their commitment goes beyond financial services—focused on protecting families and creating opportunities for a more secure future. We highlight CARD MBA's trailblazing “8-24” strategy, settling insurance claims in the Philippines within just 8 to 24 hours. With over 474,000 claims paid, this initiative reflects their commitment to serving members—especially disadvantaged communities—quickly and reliably. Here’s to another 25 years of shared impact, growth, and success. Happy Anniversary, CARD MBA! #CARDMBA #FinancialInclusion #8to24 #AnniversaryCelebration #TheICMIFFoundation #ICMIF #Cooperatives #Coops #Mutuals #Microinsurance #InclusiveInsurance #SDGs #Resiliency

The ICMIF Foundation is proud to announce the first South to South visit under the UNDP ICMIF Insurance Innovation Challenge (IIC). Mr. Palliye Guruge Asanka Gayan, Senior Manager of Product Development at SANASA Life Insurance Co. PLC, will be attending the DHAN Foundation's International Course on Advanced Reflective Education and Training (ART) on Mutual Insurance from 10th to 13th of September 2024, in Madurai, India. This course will offer a deep dive into mutual insurance models and sustainable practices, featuring modules on mutuality and microinsurance. With 15 years in the insurance industry, Asanka is eager to expand his expertise and enhance SLIC’s microinsurance product, Labandi Ran Wasi (LRS). His goal is to develop innovative solutions that better serve rural communities in Sri Lanka. "Improving life assurances for underserved areas can significantly enhance their quality of life," Asanka notes.  We’re excited to see the impact of this valuable learning experience on our IIC project! #UNDP_ICMIF_IIC #UNDP_IRFF #ICMIF #TheICMIFFoundation #DHANFoundation #Sanasa #Cooperatives #Coops #Mutuals #Microinsurance #InclusiveInsurance #Innovation #SDGs #Resiliency

We’re thrilled to share a fantastic video of Liam and Steve's recent charity bike ride! Liam Carter and Steve Leicester took on an impressive 116-km journey to the City of Culture, Liverpool and back, all to support the DHAN Foundation and raise awareness for The ICMIF Foundation. A huge thank you to everyone who supported them—your encouragement has made a huge difference! Watch the highlights of their journey in the video below! 🎥👇 If you’d like to contribute, you can make a donation through their JustGiving page: https://lnkd.in/gqmYQ78Q. #TheICMIFFoundation #ICMIF #DhanFoundation #ICMIFStaffBikeRide #mutuality #microinsurance