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Microinsurance in the Maghreb

Summary. From microcredit to microinsuranceMicroinsurance system promoted by BEST Re and ICMIFImplementation: the case of the Maghreb. 3. Summary. From microcredit to microinsuranceMicroinsurance system promoted by BEST Re and ICMIFImplementation: the case of the Maghreb. 4. Insertion par le mic

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Microinsurance in the Maghreb

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    1. Microinsurance in the Maghreb

    2. Summary From microcredit to microinsurance Microinsurance system promoted by BEST Re and ICMIF Implementation: the case of the Maghreb

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

    4. 4 Insertion par le micro-crédit… Cas idéal

    5. 5 Plus d’exclusion… Situation plus fréquente qu’on ne le pense

    6. 6 From microcredit to microinsurance

    7. 7 Avec la micro-assurance, le chemin de l’insertion retrouvé

    8. 8 Summary From microcrédit to microinsurance Microinsurance system promoted by BEST Re and ICMIF Implementation: the case of the Maghreb

    9. 9 Microinsurance by BEST RE and ICMIF… A whole system

    10. 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. 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. 12 Micro-assurance… Une mutualisation des risques à plusieurs niveaux

    13. 13 Microinsurance… dedicated distribution and management Respect of insurance regulations Maximum management and acquisition cost saving

    14. 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. 15 Microinsurance… Dedicated guarantees Types (life, health, property damage) Limits Duration

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

    17. 17 Une approche dynamique… Système initial

    18. 18 Une approche dynamique… Système cible

    19. 19 Une réassurance non proportionnelle (Stop loss) révisable

    20. 20 Microinsurance… Target countries Maghreb Sub-Saharan Africa Middle-East South East and Central Asia

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

    22. 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. 23 Taux de réponse

    24. 24 Micro-crédits octroyés en 2002

    25. 25 Micro-crédit en 2002

    26. 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. 27 Primes mensuelles (TND/mois)

    28. 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. 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. 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. 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

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