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Microinsurance in the Maghreb

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Microinsurance system promoted by BEST Re and ICMIF. Implementation: the ... (enrolment card, premium and loss bordereau) from the microcredit procedure model. ... – PowerPoint PPT presentation

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Title: Microinsurance in the Maghreb


1
Microinsurance in the Maghreb
Mutuality, Cultural Diversity and
Development Tunis, 21 May 2004
2
Summary
  • From microcredit to microinsurance
  • Microinsurance system promoted by BEST Re and
    ICMIF
  • Implementation the case of the Maghreb

3
Summary
  • From microcredit to microinsurance
  • Microinsurance system promoted by BEST Re and
    ICMIF
  • Implementation the case of the Maghreb

4
Insertion par le micro-crédit… Cas idéal
INSERTION
MICRO-CREDIT
EXCLUSION
5
Plus dexclusion… Situation plus fréquente quon
ne le pense
Décès, perte outil du travail…
INSERTION
MICRO-CREDIT
EXCLUSION
DEXCLUSION
6
From microcredit to microinsurance
The microcredit system does present some
deficiencies (lacks) but these can be made up for
by the microinsurance system
7
Avec la micro-assurance, le chemin de linsertion
retrouvé
MICRO-ASSURANCE
INSERTION
MICRO-CREDIT
EXCLUSION
More EXCLUSION
8
Summary
  • From microcrédit to microinsurance
  • Microinsurance system promoted by BEST Re and
    ICMIF
  • Implementation the case of the Maghreb

9
Microinsurance by BEST RE and ICMIF… A whole
system
It is not low price insurance
An insurance and reinsurance system made to
provide the poor with insurance products suiting
their needs
The actors of this system must be driven by a
participative and innovative spirit
10
Microinsurance… A partnership between 5 types of
actors
  • Microinsured persons
  • Microfinance Institutions (MFIs)
  • Non Governmental Organisations (NGOs)
  • Mutual Insurers
  • Regional Reinsurers (emerging countries)

11
Advantages of microinsurance for the partners
  • NGO
  • Safety for their clients
  • Source of financing
  • Better usage of its resources
  • Asset plus for refinancing
  • MFI
  • Better securization of the granted credit lines
  • Raised level of State intervention
  • Microinsured persons
  • Financial support to families in the event of
    loss
  • Gradual(progressive) integration into the formal
    sector
  • Covers and prices adapted to needs..
  • Microinsurer/reinsurer
  • Access to new markets
  • Broadening the base of insurance education

12
Micro-assurance… Une mutualisation des risques à
plusieurs niveaux
International
Mutualisation
Pays
13
Microinsurance… dedicated distribution and
management
  • Respect of insurance regulations
  • Maximum management and acquisition cost saving

14
Microinsurance… A specific price
  • Any service has its price, same thing in
    microinsurance
  • This price is set using the same techniques as
    for insurance
  • The price takes into account the specificities of
    the microinsured persons among which
  • - Their payment capacity
  • - The type of fractioning suiting them

15
Microinsurance… Dedicated guarantees
  • Types (life, health, property damage)
  • Limits
  • Duration

16
Microinsurance… A dedicated reinsurance
  • Mutualization of reinsured risks
  • Total loss experience goodwills

Compensation des soldes négatifs
Réserve de stabilité alimenté par des dons
17
Une approche dynamique… Système initial
Dons
Micro-réassureur
Réserve de stabilité
Markeing et education
Pas de réserve de stabilité
Micro-assureur
Micro-assurés À travers ONG 100 risques
Pas Dépargne
18
Une approche dynamique… Système cible
Micro-réassureur
Réserve de stabilité
Réserve de stabilité
Micro-assureur
Micro-assurés À travers ONG lt100 risques
Epargne prévoyance
19
Une réassurance non proportionnelle (Stop loss)
révisable
20
Microinsurance… Target countries
  • Maghreb
  • Sub-Saharan Africa
  • Middle-East
  • South East and Central Asia

21
Sommaire
  • From microcrédit to microinsurance
  • Microinsurance system promoted by BEST Re and
    ICMIF
  • Implementation the case of the Maghreb

22
1st contact with NGOs
  • Presentation form sent to NGOs granting
    microcredits in the 4 Maghreb countries
  • Microcredit portfolio,
  • Main causes of non refunding of microcredits,
  • Needs in microinsurance

23
Taux de réponse
24
Micro-crédits octroyés en 2002
1USD1,322TND
25
Micro-crédit en 2002
26
Illustration with figures 3 microinsurance
contracts
  • Microinsurance contracts in the event of death
  • Balance due of the microcredit
  • Balance due of the microcredit death capital
  • Duration 6 months / Capital 1000 1000 TND
  • Contracts including savings and provident fund
  • Balance due of the microcredit
  • Constitution of savings and provident fund
  • Duration 5 years / Capital 1000 TND
  • Property microinsurance products
  • Tool loss compensation
  • Duration 1 year / Capital 1000 TND

27
Primes mensuelles (TND/mois)
28
Conclusions from the answers to questionnaires
for Tunisia
  • Two types of NGOs
  • International NGOs representations (ex. ENDA IA,
    member of the Enda Tiers Monde family).
  • National NGOs (ex. ASAD, AID, FTSS…)
  • Two regulatory frameworks
  • Organic Law N 93-80, July 26, 1993.
  • Organic Law N 59-154, November 7, 1959..
  • Two types of financing
  • International financing for international NGOs
  • BTS financing for national NGOs

29
Proposals for an economical distribution system
  • International NGOs Group Contracts
  • National NGOs BTS-Microinsurers bancassurance
    agreement
  • Partner-Agent model
  • Partner Insurer-Reinsurer working out
    microinsurance contracts
  • Agent NGO-MFI Distribution to their
    microcredit clients

30
Proposals for an economical management
  • Develop a microinsurance procedure manuel
    (enrolment card, premium and loss bordereau) from
    the microcredit procedure model.
  • Develop a microinsurance application software
    from the microcredit one.
  • Deposit of premiums in bank branch offices in the
    vicinity of institutions granting microcredit.
  • Informatisation of NGO-Insurer-Reinsurer
    exchanges.
  • Training

31
Current needs
  • NGOs a larger support is necessary to make a
    database allowing to write up a representative
    feasability study.
  • Reinsurers Best Re is ready to coinsure this
    system.
  • Donators Best Re will make a donation to the
    stability fund.
  • Mutual Insurers inviting all mutual insurers to
    coinsure this system.
  • Other partners for the training of adult
    educators, for example.

32
Microinsurance in the Maghreb
Mutuality, Cultural Diversity and
Development Tunis, 21 May 2004
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