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PAKISTAN MICRO FINANCE SECTOR

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Title: PAKISTAN MICRO FINANCE SECTOR Author: wb170961 Last modified by: Dell Created Date: 9/10/2004 11:13:44 AM Document presentation format: Custom – PowerPoint PPT presentation

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Title: PAKISTAN MICRO FINANCE SECTOR


1
Microinsurance Policy Perspective, Trends and
key issues Presentation to SECP and Insurance
Sector Seminar 29 November 2011
2
Policy Perspective
3
From a pyramid
Non-Poor
Transitory Non-Poor
Microfinance (Credit, Deposit, Insurance and
Remittances)
Transitory Vulnerable
Transitory Poor
Chronic Poor
Extremely Poor
4
To a Diamond
HNWI
Middle Class
Poor
5
Responding to poverty The arsenal
HEALTH CARE
What to do is, by and large known and simple
EDUCATION
Access To
Poverty SIGNIFICANT REDUCTION
MICRO FINANCE
HOUSING
BASIC SERVICES
6
Relationship between Financial Exclusion and
poverty exists
Source http//maps.grida.no/go/graphic/poverty
-by-country-share-of-population-living-under-usd-2
-per-day-2004
7
There is a moderate to strong relationship
between GDP per capita and usage of financial
services
8
Bank Loan per 1,000 adults
9
Deposit Accounts per 1,000 Individuals
10
Bank Branches per 1,000 Adults
11
Insurance Density Gross Premium per capita
Insurance density in USD
12
Industry Trends
13
Trends in credit, Deposits and insurance
14
Trends in Insurance
15
Trends in Insurance
16
Trends in Insurance
17
Issues/Challenges
18
Issues/Challenges
  • Transparency  
  • Cashless vs. cash based
  • Settlement of claims (time required)
  • Competition (product pricing)
  • Volumes required (low cost)
  • Existing products not meet the need
  • Product diversification
  • Marketing difficult then Credit/Savings
  • Push Vs. Pull
  • Late reimbursement of claims
  • Awareness Low literacy
  • High Premium
  • High Transportation Cost (Rural)
  • Product viability
  • Culture (Low demand for voluntary insurance
  • distrust
  • Diseases high
  • Consumer protection

MFPs Insurance Co.
Regulation
Client
  • Lack of understanding of microinsurance
  • Lack of appropriate information
  • Legal framework not supportive
  • MFPs agents or brokers
  • Product diversification

19
Role of PMN
20
THANK YOU.
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