RBAP-MABS shares Philippine experiences at conference in Singapore
RBAPMABS.com, 24 August 2010
Rural Bankers Association of the Philippines (RBAP) - Microenterprise Access to Banking Services (MABS) Microinsurance Coordinator Ruth Aseron shared the experiences of rural banks and their insurance partners in microinsurance distribution at the Microinsurance Asian Summit held in Singapore and organised by Hanson Wade.
A significant interest of participants at the event was the potential convergence of rural banks’ mobile phone banking and microinsurance services to facilitate cost-efficient payment, administration and claims while partnering with private insurance companies in order to increase access and reduce the costs of managing small accounts.
Secretary General Yoshi Kawai of the International Association of Insurance Supervisors (IAIS) opened the 2-day conference with a discussion on the G20 Initiatives on microinsurance and the significance of developing relevant policies and regulations founded on financial inclusion and poverty alleviation. This established the theme of the conference as speakers evinced social entrepreneurship with discussions on sustainability of microinsurance products balanced with addressing risk protection needs of the "middle poor" or "mass market".
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