Bradesco aims to increase number of low-income customers
PR Newswire, 21 December 2010
Bradesco Seguros, the largest insurance group in Latin America, hopes to add 20 million new clients, leveraged primarily on the strength of microinsurance. The estimate was made by the executive director of the Group, Eugenio Velasques. His forecast was based on a survey by the Getulio Vargas Foundation (FGV) that estimates the potential public for these products to be 100 million Brazilians who are currently outside the insurance market.
The regulation of the microinsurance market is still under consideration by the Brazilian Congress and it is expected that legislation allowing these products to be offered will be approved early in 2011. According to the Bradesco executive, a project designed exclusively to meet both the terms of the regulations and is flexible, will be critical for success in the Brazilian microinsurance market.
In 2011, Grupo Bradesco Seguros expects to offer 8 new microinsurance product options with monthly premiums ranging from R$ 3 (US$1.7) to R$ 15 (US$9). The insurance programmes basically combine two or three different kinds of coverage/protection: one for home and life insurance; another for personal accident with financial protection/unemployment; and a third for financial protection with funeral assistance.
Click here to read more about Bradesco's current products and full press release
AKAM to offer health, savings and harvest insurance in Tanzania
MicroCaptital, 10 December 2010
The Aga Khan Agency for Microfinance (AKAM), a non-profit international development agency based in Switzerland, will expand its insurance products for the poor in Tanzania to cover loans and agriculture in addition to health. The expanded services will be offered as part of a five-year project that will be headed by the First Microinsurance Agency Tanzania (FMiA-T), an agency of AKAM.
While FMiA-T began offering micro health insurance to the poor at the end of 2009, loan insurance and insurance to cover harvest stored in warehouses will now join its product line. According to Wilson Mzava, Project Manager for FMiA-T, 3% of Tanzanians are currently able to access microinsurance, but FMiA-T studies indicate a much higher demand.
FMiA-T will begin this project by reaching out to members of cooperatives, village savings and loan associations and other microfinance institutions in an effort to provide the rural poor with a way to protect themselves from unexpected and adverse events.
Consultants needed for country diagnostic of China
The Access to Insurance Initiative (A2II) has issued a Request for Proposals for both an international consultant as well as for national consultants to work with the Centre for Financial Regulation and Inclusion (Cenfri) to conduct a microinsurance diagnostic study in China. See below for details and information on:
Cenfri, a non-profit research centre based in South Africa, has been appointed by the A2II to oversee the development of the country diagnostic for China. The project is funded by the Asian Development Bank and German Federal Ministry for the Environment, Nature Conservation and Nuclear Safety with in-kind support from other sponsoring parties to the A2II. GTZ China is implementing the project on behalf of the before mentioned parties.
The implementation of the microinsurance country diagnostic for China is supervised by Jan Kerer, GTZ Project Director and regional coordinator for A2II activities in China and Mongolia.
All applications should be sent to Jan Kerer by 15 December 2010.