{"id":2472,"date":"2017-11-16T13:09:46","date_gmt":"2017-11-16T13:09:46","guid":{"rendered":"https:\/\/microinsurancemaster.org\/?p=2472"},"modified":"2018-11-09T02:48:08","modified_gmt":"2018-11-09T02:48:08","slug":"microinsurance-value-proposition","status":"publish","type":"post","link":"https:\/\/microinsurancemaster.org\/microinsurance-value-proposition\/","title":{"rendered":"Microinsurance&#8217;s Value Proposition: What&#8217;s In It For You?"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"2472\" class=\"elementor elementor-2472 elementor-bc-flex-widget\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-rp6xarf margin_top1 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"rp6xarf\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-mgt5dbe\" data-id=\"mgt5dbe\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-b8p0ry0 elementor-widget elementor-widget-spacer\" data-id=\"b8p0ry0\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.21.0 - 25-04-2024 *\/\n.elementor-column .elementor-spacer-inner{height:var(--spacer-size)}.e-con{--container-widget-width:100%}.e-con-inner>.elementor-widget-spacer,.e-con>.elementor-widget-spacer{width:var(--container-widget-width,var(--spacer-size));--align-self:var(--container-widget-align-self,initial);--flex-shrink:0}.e-con-inner>.elementor-widget-spacer>.elementor-widget-container,.e-con>.elementor-widget-spacer>.elementor-widget-container{height:100%;width:100%}.e-con-inner>.elementor-widget-spacer>.elementor-widget-container>.elementor-spacer,.e-con>.elementor-widget-spacer>.elementor-widget-container>.elementor-spacer{height:100%}.e-con-inner>.elementor-widget-spacer>.elementor-widget-container>.elementor-spacer>.elementor-spacer-inner,.e-con>.elementor-widget-spacer>.elementor-widget-container>.elementor-spacer>.elementor-spacer-inner{height:var(--container-widget-height,var(--spacer-size))}.e-con-inner>.elementor-widget-spacer.elementor-widget-empty,.e-con>.elementor-widget-spacer.elementor-widget-empty{position:relative;min-height:22px;min-width:22px}.e-con-inner>.elementor-widget-spacer.elementor-widget-empty .elementor-widget-empty-icon,.e-con>.elementor-widget-spacer.elementor-widget-empty .elementor-widget-empty-icon{position:absolute;top:0;bottom:0;left:0;right:0;margin:auto;padding:0;width:22px;height:22px}<\/style>\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f7vmg3r main-article-title elementor-widget elementor-widget-heading\" data-id=\"f7vmg3r\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.21.0 - 25-04-2024 *\/\n.elementor-heading-title{padding:0;margin:0;line-height:1}.elementor-widget-heading .elementor-heading-title[class*=elementor-size-]>a{color:inherit;font-size:inherit;line-height:inherit}.elementor-widget-heading .elementor-heading-title.elementor-size-small{font-size:15px}.elementor-widget-heading .elementor-heading-title.elementor-size-medium{font-size:19px}.elementor-widget-heading .elementor-heading-title.elementor-size-large{font-size:29px}.elementor-widget-heading .elementor-heading-title.elementor-size-xl{font-size:39px}.elementor-widget-heading .elementor-heading-title.elementor-size-xxl{font-size:59px}<\/style><h2 class=\"elementor-heading-title elementor-size-default\">Microinsurance's Value Proposition: What's In It For You?<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1qdh6bw elementor-widget elementor-widget-image\" data-id=\"1qdh6bw\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.21.0 - 25-04-2024 *\/\n.elementor-widget-image{text-align:center}.elementor-widget-image a{display:inline-block}.elementor-widget-image a img[src$=\".svg\"]{width:48px}.elementor-widget-image img{vertical-align:middle;display:inline-block}<\/style>\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" src=\"https:\/\/microinsurancemaster.org\/wp-content\/uploads\/elementor\/thumbs\/Microinsurance-Value-Propostion-qb3jfz5uvhm44gefcxfmembpg0opmuicua8qyq9o78.jpg\" title=\"Find new solutions\" alt=\"Microinsurance Value Proportion\" loading=\"lazy\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-s093rgq margin_top1 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"s093rgq\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-b161vvw\" data-id=\"b161vvw\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-19fx7ha elementor-widget elementor-widget-spacer\" data-id=\"19fx7ha\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-jeck9na elementor-widget elementor-widget-text-editor\" data-id=\"jeck9na\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.21.0 - 25-04-2024 *\/\n.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#69727d;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#69727d;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}<\/style>\t\t\t\t<p>Microinsurance is often presented as a classic win-win-win.<\/p><p>Low-income people get protection; insurers get new clients; and intermediaries such as microfinance institutions get commission income.<\/p><p>But the obvious benefits might not be as obvious as they sound, while other important benefits are undervalued or forgotten.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ujx9qci elementor-widget elementor-widget-spacer\" data-id=\"ujx9qci\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ontfh9q elementor-widget elementor-widget-heading\" data-id=\"ontfh9q\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-medium\">The value proposition for low-income people<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-306qj64 elementor-widget elementor-widget-image\" data-id=\"306qj64\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t<figure class=\"wp-caption\">\n\t\t\t\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"900\" height=\"599\" src=\"https:\/\/microinsurancemaster.org\/wp-content\/uploads\/2017\/11\/CardPioneer-client.jpg\" class=\"attachment-full size-full wp-image-2474\" alt=\"Card Pioneer Client\" srcset=\"https:\/\/microinsurancemaster.org\/wp-content\/uploads\/2017\/11\/CardPioneer-client.jpg 900w, https:\/\/microinsurancemaster.org\/wp-content\/uploads\/2017\/11\/CardPioneer-client-300x200.jpg 300w, https:\/\/microinsurancemaster.org\/wp-content\/uploads\/2017\/11\/CardPioneer-client-768x511.jpg 768w, https:\/\/microinsurancemaster.org\/wp-content\/uploads\/2017\/11\/CardPioneer-client-350x233.jpg 350w\" sizes=\"(max-width: 900px) 100vw, 900px\" \/>\t\t\t\t\t\t\t\t\t\t\t<figcaption class=\"widget-image-caption wp-caption-text\">Photo credit: CardPioneer - https:\/\/www.cardmri.com\/cpmi\/<\/figcaption>\n\t\t\t\t\t\t\t\t\t\t<\/figure>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-lbsx4gm elementor-widget elementor-widget-text-editor\" data-id=\"lbsx4gm\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>For many low-income people, their first microinsurance policy will be their first experience with <em>any<\/em> insurance.<\/p><p>This experience will shape their perceptions of insurance in general, so we all need to work hard to make the first impression a good one. To make sure people renew and increase their insurance coverage and reverse the rather poor reputation of insurance globally.<\/p><p>Lorenzo Chan Jr., CEO of Pioneer Group in the Philippines and host of the <em>Microinsurance Master <\/em>programme, expresses well what the essential qualities of insurance <em>should <\/em>be:<\/p><blockquote><p><em>\u201cHonesty, trust and reliability: you seek the same things in insurance as in friends.\u201d<\/em><\/p><\/blockquote><p>Unlike regular insurance, microinsurance seldom compensates for the <em>complete<\/em> loss that people suffer. If it did, the premium would not be affordable to most low-income communities.<\/p><p>Because microinsurance does not compensate for complete loss, it is only a partial solution. Its value increases in combination with other services or products; for instance, as a complement to social protection schemes, combined with a child savings or bundled with fertilisers.<\/p><p>More than with regular insurance, the speed of claims settlement is a key value proposition. Numerous studies have shown that the value of microinsurance seriously decreases when claims handling takes too long.\u00a0<\/p><p>People with scarce financial resources can simply not wait for weeks or months for a refund.\u00a0 This challenges insurers to completely rethink and rebuild the way they handle claims.<\/p><p>All this calls for a good understanding of customer risks and needs, with considerable testing and tweaking to find the best insurance solutions. My <a href=\"https:\/\/microinsurancemaster.org\/get-outside\/\">previous article on customer discovery<\/a> explores this further.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-v6k5xpp elementor-widget elementor-widget-spacer\" data-id=\"v6k5xpp\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-tldk8vi elementor-widget elementor-widget-heading\" data-id=\"tldk8vi\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-medium\">The value proposition for insurance companies<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-chz2idn elementor-widget elementor-widget-image\" data-id=\"chz2idn\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t<figure class=\"wp-caption\">\n\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"901\" height=\"418\" src=\"https:\/\/microinsurancemaster.org\/wp-content\/uploads\/2017\/11\/World-Map-of-Microinsurance.png\" class=\"attachment-full size-full wp-image-2479\" alt=\"World Map of Microinsurance\" srcset=\"https:\/\/microinsurancemaster.org\/wp-content\/uploads\/2017\/11\/World-Map-of-Microinsurance.png 901w, https:\/\/microinsurancemaster.org\/wp-content\/uploads\/2017\/11\/World-Map-of-Microinsurance-300x139.png 300w, https:\/\/microinsurancemaster.org\/wp-content\/uploads\/2017\/11\/World-Map-of-Microinsurance-768x356.png 768w, https:\/\/microinsurancemaster.org\/wp-content\/uploads\/2017\/11\/World-Map-of-Microinsurance-350x162.png 350w\" sizes=\"(max-width: 901px) 100vw, 901px\" \/>\t\t\t\t\t\t\t\t\t\t\t<figcaption class=\"widget-image-caption wp-caption-text\">Total microinsurance coverage - World Map of Microinsurance - source: http:\/\/worldmapofmicroinsurance.org\/<\/figcaption>\n\t\t\t\t\t\t\t\t\t\t<\/figure>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-l1fsufq elementor-widget elementor-widget-text-editor\" data-id=\"l1fsufq\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Insurers in emerging economies are mostly only dealing with companies and individuals in the small \u2018formal\u2019 economy. Microinsurance has the potential to unlock the huge, untapped \u2018informal\u2019 market and become an important business line for revenue.<\/p><p>However, anyone entering microinsurance solely for short-term financial gain will be on a disappointing trip (see my article &#8211; <a href=\"https:\/\/microinsurancemaster.org\/whats-the-why-of-microinsurance-master1\/\">What\u2019s The \u2018Why\u2019 Of Microinsurance Master?<\/a>).<\/p><p>Trimmed-down versions of the most popular and profitable insurance products that do not respond specifically to the needs of low-income people are doomed to fail.<\/p><p>A longer term approach is to become the <em>insurance partner<\/em> of emerging customers; growing together requires significant upfront investment and a strategy that, if carried out effectively, will lead to mutual benefits for years and hopefully decades thereafter.<\/p><p>An interesting \u2018side effect\u2019 of microinsurance is that it requires us to completely rethink insurance practises and procedures.<\/p><p>Successful insurers, such as Pioneer Group in the Philippines, benefit from field-testing their ideas in the microinsurance market. This eventually strengthens their retail and corporate insurance practises too.<\/p><p>Even well-established international insurance conglomerates can learn from microinsurance.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-21fe3br elementor-widget elementor-widget-spacer\" data-id=\"21fe3br\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-bich5t2 elementor-widget elementor-widget-heading\" data-id=\"bich5t2\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-medium\">The value proposition for MFIs and other microinsurance intermediaries<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-sk80bd2 elementor-widget elementor-widget-image\" data-id=\"sk80bd2\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"768\" height=\"272\" src=\"https:\/\/microinsurancemaster.org\/wp-content\/uploads\/2017\/11\/3pillars-of-financial-system-768x272.jpg\" class=\"attachment-medium_large size-medium_large wp-image-2477\" alt=\"3 pillars of financial system\" srcset=\"https:\/\/microinsurancemaster.org\/wp-content\/uploads\/2017\/11\/3pillars-of-financial-system-768x272.jpg 768w, https:\/\/microinsurancemaster.org\/wp-content\/uploads\/2017\/11\/3pillars-of-financial-system-300x106.jpg 300w, https:\/\/microinsurancemaster.org\/wp-content\/uploads\/2017\/11\/3pillars-of-financial-system-350x124.jpg 350w, https:\/\/microinsurancemaster.org\/wp-content\/uploads\/2017\/11\/3pillars-of-financial-system.jpg 900w\" sizes=\"(max-width: 768px) 100vw, 768px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-h5e7i82 elementor-widget elementor-widget-text-editor\" data-id=\"h5e7i82\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Microinsurance can make a product or service that it\u2019s bundled with more attractive.<\/p><p>Bags of fertiliser with insurance potentially have a major competitive edge over those without. The same applies to mobile phone top-up packages. Both example can increase customer loyalty.<\/p><p>For microfinance institutions too, microinsurance can provide an attractive income stream. However, profit as the sole motivation is a poor foundation. As already alluded to, insurance for low-income people requires understanding of the customer needs and a considerable investment in time and effort to explain &#8211; all for a small commission. It cannot compete with profits generated from commission on loans, for instance.<\/p><p>From a customer-centric viewpoint, however, microinsurance is the \u2018missing piece\u2019 for many financial solutions.<\/p><p>Insurance \u2018completes\u2019 saving and credit products, increasing the value of both, increasing saving loyalty, and allowing MFIs to grant credits to excluded people and groups that it could otherwise not reach.\u00a0While the direct financial benefit might be limited, the promise of indirect benefit, through better savings and credit returns, are important.\u00a0This logic calls for an holistic approach to insurance, whereby insurance solutions are complementary and tailored to the credit and savings offering of an MFI.\u00a0MFIs with a good understanding of their customer needs and an extensive outreach can work with insurance companies to create tailored products that fit client needs.<\/p><p>This is where the circle is completed and a true <em>win-win-win<\/em> exists.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-aogh5b3 elementor-widget elementor-widget-spacer\" data-id=\"aogh5b3\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-lockc07 elementor-widget elementor-widget-heading\" data-id=\"lockc07\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-medium\">Bringing the value propositions together\n<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-z28v1r0 elementor-widget elementor-widget-image\" data-id=\"z28v1r0\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t<figure class=\"wp-caption\">\n\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"750\" height=\"292\" src=\"https:\/\/microinsurancemaster.org\/wp-content\/uploads\/2017\/11\/CardPioneer-partnership.jpg\" class=\"attachment-full size-full wp-image-2476\" alt=\"Card Pioneer Partnership\" srcset=\"https:\/\/microinsurancemaster.org\/wp-content\/uploads\/2017\/11\/CardPioneer-partnership.jpg 750w, https:\/\/microinsurancemaster.org\/wp-content\/uploads\/2017\/11\/CardPioneer-partnership-300x117.jpg 300w, https:\/\/microinsurancemaster.org\/wp-content\/uploads\/2017\/11\/CardPioneer-partnership-350x136.jpg 350w\" sizes=\"(max-width: 750px) 100vw, 750px\" \/>\t\t\t\t\t\t\t\t\t\t\t<figcaption class=\"widget-image-caption wp-caption-text\">Card MRI and Pioneer Insurance leadership with some of their members unveiling a new crop insurance - Photo: Pioneer Insurance, 2016<\/figcaption>\n\t\t\t\t\t\t\t\t\t\t<\/figure>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5prleyv elementor-widget elementor-widget-text-editor\" data-id=\"5prleyv\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>The partnership between Card MRI, the largest member-based MFI in the Philippines, and Pioneer Insurance, proves that this win-win-win is possible.<\/p><p>These organisations formed CardPioneer, a microinsurance joint venture that combines the strength and member proximity of Card MRI with the insurance knowhow of Pioneer Insurance. It has resulted in effective customer-centric microinsurance solutions for low-income people.<\/p><p>Pioneer Microinsurance has grown from 0.26m to 18m enrolments in just five years. This has been achieved largely by maintaining a strong customer-centric focus and fast claims settlements, half of them within two days.<\/p><p><strong><em>In February 2019, the Microinsurance Master programme will camp out for two weeks at Pioneer Microinsurance. If you want to learn their \u2018secret sauce\u2019 to make your own microinsurance practice thrive, <a href=\"https:\/\/microinsurancemaster.org\/programme\/\"><u>apply now<\/u><\/a>.<\/em><\/strong><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ejj16z2 elementor-widget elementor-widget-spacer\" data-id=\"ejj16z2\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Microinsurance is often presented as a classic win-win-win. But the obvious benefits might not be as obvious as they sound, while other important benefits are undervalued or forgotten.<\/p>\n","protected":false},"author":1,"featured_media":2485,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","site-sidebar-layout":"no-sidebar","site-content-layout":"page-builder","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"disabled","ast-breadcrumbs-content":"","ast-featured-img":"disabled","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"","footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Microinsurance&#039;s Value Proposition: What&#039;s In It For You? - Microinsurance Master<\/title>\n<meta name=\"description\" content=\"Microinsurance is often presented as a classic win-win-win. But the obvious benefits might not be as obvious, while other important benefits are undervalued or forgotten.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/microinsurancemaster.org\/microinsurance-value-proposition\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Microinsurance&#039;s Value Proposition: What&#039;s In It For You? - Microinsurance Master\" \/>\n<meta property=\"og:description\" content=\"Microinsurance is often presented as a classic win-win-win. But the obvious benefits might not be as obvious, while other important benefits are undervalued or forgotten.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/microinsurancemaster.org\/microinsurance-value-proposition\/\" \/>\n<meta property=\"og:site_name\" content=\"Microinsurance Master\" \/>\n<meta property=\"article:published_time\" content=\"2017-11-16T13:09:46+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2018-11-09T02:48:08+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/microinsurancemaster.org\/wp-content\/uploads\/2017\/11\/Microinsurance-Value-Propostion.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"634\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Bert Opdebeeck\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Bert Opdebeeck\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/microinsurancemaster.org\/microinsurance-value-proposition\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/microinsurancemaster.org\/microinsurance-value-proposition\/\"},\"author\":{\"name\":\"Bert Opdebeeck\",\"@id\":\"https:\/\/microinsurancemaster.org\/#\/schema\/person\/9228b6510d0c7c0c7ce2ac5d66fd87d2\"},\"headline\":\"Microinsurance&#8217;s Value Proposition: What&#8217;s In It For You?\",\"datePublished\":\"2017-11-16T13:09:46+00:00\",\"dateModified\":\"2018-11-09T02:48:08+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/microinsurancemaster.org\/microinsurance-value-proposition\/\"},\"wordCount\":932,\"publisher\":{\"@id\":\"https:\/\/microinsurancemaster.org\/#organization\"},\"image\":{\"@id\":\"https:\/\/microinsurancemaster.org\/microinsurance-value-proposition\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/microinsurancemaster.org\/wp-content\/uploads\/2017\/11\/Microinsurance-Value-Propostion.jpg\",\"articleSection\":[\"Uncategorized\"],\"inLanguage\":\"en-GB\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/microinsurancemaster.org\/microinsurance-value-proposition\/\",\"url\":\"https:\/\/microinsurancemaster.org\/microinsurance-value-proposition\/\",\"name\":\"Microinsurance's Value Proposition: What's In It For You? - Microinsurance Master\",\"isPartOf\":{\"@id\":\"https:\/\/microinsurancemaster.org\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/microinsurancemaster.org\/microinsurance-value-proposition\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/microinsurancemaster.org\/microinsurance-value-proposition\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/microinsurancemaster.org\/wp-content\/uploads\/2017\/11\/Microinsurance-Value-Propostion.jpg\",\"datePublished\":\"2017-11-16T13:09:46+00:00\",\"dateModified\":\"2018-11-09T02:48:08+00:00\",\"description\":\"Microinsurance is often presented as a classic win-win-win. But the obvious benefits might not be as obvious, while other important benefits are undervalued or forgotten.\",\"breadcrumb\":{\"@id\":\"https:\/\/microinsurancemaster.org\/microinsurance-value-proposition\/#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/microinsurancemaster.org\/microinsurance-value-proposition\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-GB\",\"@id\":\"https:\/\/microinsurancemaster.org\/microinsurance-value-proposition\/#primaryimage\",\"url\":\"https:\/\/microinsurancemaster.org\/wp-content\/uploads\/2017\/11\/Microinsurance-Value-Propostion.jpg\",\"contentUrl\":\"https:\/\/microinsurancemaster.org\/wp-content\/uploads\/2017\/11\/Microinsurance-Value-Propostion.jpg\",\"width\":1200,\"height\":634,\"caption\":\"Closeup of businessman and woman with jigsaw puzzle pieces in office\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/microinsurancemaster.org\/microinsurance-value-proposition\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/microinsurancemaster.org\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Microinsurance&#8217;s Value Proposition: What&#8217;s In It For You?\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/microinsurancemaster.org\/#website\",\"url\":\"https:\/\/microinsurancemaster.org\/\",\"name\":\"Microinsurance Master\",\"description\":\"Work with industry leaders in a unique accelerator to thrive in microinsurance\",\"publisher\":{\"@id\":\"https:\/\/microinsurancemaster.org\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/microinsurancemaster.org\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-GB\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/microinsurancemaster.org\/#organization\",\"name\":\"Microinsurance Master\",\"url\":\"https:\/\/microinsurancemaster.org\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-GB\",\"@id\":\"https:\/\/microinsurancemaster.org\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/microinsurancemaster.org\/wp-content\/uploads\/2017\/10\/logo_main.png\",\"contentUrl\":\"https:\/\/microinsurancemaster.org\/wp-content\/uploads\/2017\/10\/logo_main.png\",\"width\":800,\"height\":145,\"caption\":\"Microinsurance Master\"},\"image\":{\"@id\":\"https:\/\/microinsurancemaster.org\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.linkedin.com\/company\/microinsurancemaster\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/microinsurancemaster.org\/#\/schema\/person\/9228b6510d0c7c0c7ce2ac5d66fd87d2\",\"name\":\"Bert Opdebeeck\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Microinsurance's Value Proposition: What's In It For You? - Microinsurance Master","description":"Microinsurance is often presented as a classic win-win-win. But the obvious benefits might not be as obvious, while other important benefits are undervalued or forgotten.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/microinsurancemaster.org\/microinsurance-value-proposition\/","og_locale":"en_GB","og_type":"article","og_title":"Microinsurance's Value Proposition: What's In It For You? - Microinsurance Master","og_description":"Microinsurance is often presented as a classic win-win-win. But the obvious benefits might not be as obvious, while other important benefits are undervalued or forgotten.","og_url":"https:\/\/microinsurancemaster.org\/microinsurance-value-proposition\/","og_site_name":"Microinsurance Master","article_published_time":"2017-11-16T13:09:46+00:00","article_modified_time":"2018-11-09T02:48:08+00:00","og_image":[{"width":1200,"height":634,"url":"https:\/\/microinsurancemaster.org\/wp-content\/uploads\/2017\/11\/Microinsurance-Value-Propostion.jpg","type":"image\/jpeg"}],"author":"Bert Opdebeeck","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Bert Opdebeeck","Estimated reading time":"5 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/microinsurancemaster.org\/microinsurance-value-proposition\/#article","isPartOf":{"@id":"https:\/\/microinsurancemaster.org\/microinsurance-value-proposition\/"},"author":{"name":"Bert Opdebeeck","@id":"https:\/\/microinsurancemaster.org\/#\/schema\/person\/9228b6510d0c7c0c7ce2ac5d66fd87d2"},"headline":"Microinsurance&#8217;s Value Proposition: What&#8217;s In It For You?","datePublished":"2017-11-16T13:09:46+00:00","dateModified":"2018-11-09T02:48:08+00:00","mainEntityOfPage":{"@id":"https:\/\/microinsurancemaster.org\/microinsurance-value-proposition\/"},"wordCount":932,"publisher":{"@id":"https:\/\/microinsurancemaster.org\/#organization"},"image":{"@id":"https:\/\/microinsurancemaster.org\/microinsurance-value-proposition\/#primaryimage"},"thumbnailUrl":"https:\/\/microinsurancemaster.org\/wp-content\/uploads\/2017\/11\/Microinsurance-Value-Propostion.jpg","articleSection":["Uncategorized"],"inLanguage":"en-GB"},{"@type":"WebPage","@id":"https:\/\/microinsurancemaster.org\/microinsurance-value-proposition\/","url":"https:\/\/microinsurancemaster.org\/microinsurance-value-proposition\/","name":"Microinsurance's Value Proposition: What's In It For You? - Microinsurance Master","isPartOf":{"@id":"https:\/\/microinsurancemaster.org\/#website"},"primaryImageOfPage":{"@id":"https:\/\/microinsurancemaster.org\/microinsurance-value-proposition\/#primaryimage"},"image":{"@id":"https:\/\/microinsurancemaster.org\/microinsurance-value-proposition\/#primaryimage"},"thumbnailUrl":"https:\/\/microinsurancemaster.org\/wp-content\/uploads\/2017\/11\/Microinsurance-Value-Propostion.jpg","datePublished":"2017-11-16T13:09:46+00:00","dateModified":"2018-11-09T02:48:08+00:00","description":"Microinsurance is often presented as a classic win-win-win. But the obvious benefits might not be as obvious, while other important benefits are undervalued or forgotten.","breadcrumb":{"@id":"https:\/\/microinsurancemaster.org\/microinsurance-value-proposition\/#breadcrumb"},"inLanguage":"en-GB","potentialAction":[{"@type":"ReadAction","target":["https:\/\/microinsurancemaster.org\/microinsurance-value-proposition\/"]}]},{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/microinsurancemaster.org\/microinsurance-value-proposition\/#primaryimage","url":"https:\/\/microinsurancemaster.org\/wp-content\/uploads\/2017\/11\/Microinsurance-Value-Propostion.jpg","contentUrl":"https:\/\/microinsurancemaster.org\/wp-content\/uploads\/2017\/11\/Microinsurance-Value-Propostion.jpg","width":1200,"height":634,"caption":"Closeup of businessman and woman with jigsaw puzzle pieces in office"},{"@type":"BreadcrumbList","@id":"https:\/\/microinsurancemaster.org\/microinsurance-value-proposition\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/microinsurancemaster.org\/"},{"@type":"ListItem","position":2,"name":"Microinsurance&#8217;s Value Proposition: What&#8217;s In It For You?"}]},{"@type":"WebSite","@id":"https:\/\/microinsurancemaster.org\/#website","url":"https:\/\/microinsurancemaster.org\/","name":"Microinsurance Master","description":"Work with industry leaders in a unique accelerator to thrive in microinsurance","publisher":{"@id":"https:\/\/microinsurancemaster.org\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/microinsurancemaster.org\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-GB"},{"@type":"Organization","@id":"https:\/\/microinsurancemaster.org\/#organization","name":"Microinsurance Master","url":"https:\/\/microinsurancemaster.org\/","logo":{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/microinsurancemaster.org\/#\/schema\/logo\/image\/","url":"https:\/\/microinsurancemaster.org\/wp-content\/uploads\/2017\/10\/logo_main.png","contentUrl":"https:\/\/microinsurancemaster.org\/wp-content\/uploads\/2017\/10\/logo_main.png","width":800,"height":145,"caption":"Microinsurance Master"},"image":{"@id":"https:\/\/microinsurancemaster.org\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.linkedin.com\/company\/microinsurancemaster"]},{"@type":"Person","@id":"https:\/\/microinsurancemaster.org\/#\/schema\/person\/9228b6510d0c7c0c7ce2ac5d66fd87d2","name":"Bert Opdebeeck"}]}},"_links":{"self":[{"href":"https:\/\/microinsurancemaster.org\/wp-json\/wp\/v2\/posts\/2472"}],"collection":[{"href":"https:\/\/microinsurancemaster.org\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/microinsurancemaster.org\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/microinsurancemaster.org\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/microinsurancemaster.org\/wp-json\/wp\/v2\/comments?post=2472"}],"version-history":[{"count":0,"href":"https:\/\/microinsurancemaster.org\/wp-json\/wp\/v2\/posts\/2472\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/microinsurancemaster.org\/wp-json\/wp\/v2\/media\/2485"}],"wp:attachment":[{"href":"https:\/\/microinsurancemaster.org\/wp-json\/wp\/v2\/media?parent=2472"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/microinsurancemaster.org\/wp-json\/wp\/v2\/categories?post=2472"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/microinsurancemaster.org\/wp-json\/wp\/v2\/tags?post=2472"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}