MR Microinsurance_2012_03_29.indd - International Labour ...

288 Insurance and the low-income market
Below are two examples of programmes that have cleverly layered insurance
and risk management education.
CARE India, in partnership with insurer Bajaj Allianz, designed a
comprehensive education programme (see Table 14.1) that included four
components: 1) risk education; 2) insurance education; 3) product education;
and 4) product logistics and practicalities. CARE India considered all of these
topics indispensable in creating a culture of insurance and was deliberate about
including all of them in the design of its Insure Lives and Livelihood (ILAL)
programme targeting poor and vulnerable rural communities in Tamil Nadu,
India.
Table 14.1 Content areas for CARE India
Risk education Insurance education Product education Product logistics
– What are risks?
– Risk management
mechanisms
– Risk mechanisms
in practice
– Diff erence between
savings and insur-
ance
– What is micro- micro- micro-
insurance?
– Principles of
insurance
– Why micro- micro- micro-
insurance?
– What are life
and general
insurance?
– What are
premiums,
claims?
– Introduce CARE,
Bajaj Allianz
– What is ILAL?
– Explain life and
general products
– What is premium,
claim, exclusion,
inclusion?
– How to pay
premiums
– When should
premiums be
collected?
– How to fi le claims
– Documentation
requirements
In Kenya, the Swedish Cooperative Centre and Microfi nance Opportunities
developed a ten-session fi nancial education module, shown in Box 14.1, which
focuses on risk management and insurance and also includes relevant fi nancial
education concepts. Th e content is delivered using a study circle approach
whereby one member of the group serves as the facilitator, leading a discussion
about the key topic for the day.