BancoSol Bolivia and Zurich Unit Team up to Offer Insurance for Emigrants in Spain
Los Tiempos, 27 May 2009
The product targets the country's emigrants in Spain, where a large number of Bolivians live and where BancoSol has a branch, the paper reported. The insurance pays lump sum benefits in the case of death, as well as covering repatriation costs and school costs.
Zurich Boliviana de Seguros is offering four options for this product, with annual costs of US$57, US$86 and US$100, according to the paper, which did not provide the cost for the most expensive option. BancoSol is the country's largest microfinance bank in terms of clients, serving some 115,542 customers as of end-March, according to Bolivia's microfinance institution association Asofin.
Source: Business News Americas
Article in Spanish
Challenge of Accessing Insurance Services in Africa
Vanguard Online, 25 May 2009
Insurance operators in Africa and around the globe are hitting the nail hard on the head at this year’s 36th African Insurance Organisation going on in Tanzania to identify how best insurance services can be handy for the continent populace, Patience Saghana reports from Tanzania.
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CIC Kenya introduces covers for low income earners
Daliy Nation, 25 May 2009
The Cooperative Insurance Company (CIC) has introduced a range of products targeting low income earners in the society, the managing director has said. Mr Nelson Kuria said the organisation has developed micro-insurance packages like the ‘Bima ya Jamii’, which has a funeral cover, medical insurance and personal accidents.
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PLIA Philippines is re-branding itself to Cebuana Lhuillier Insurance Solutions
Business World Online, 21 May 2009
IN CELEBRATION of its 10th anniversary this May, P. Lhuillier Insurance Agency (PLIA) is re-branding itself to Cebuana Lhuillier Insurance Solutions (CLIS).
With its re-branding, CLIS aspires to contribute to nation-building by providing quality insurance protection to the Filipino masses at very affordable premiums.
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Reducing disaster risk can help decrease poverty, safeguard development, Secretary-General says at launch of Global Assessment Report
United Nations Secretary-General, 18 May 2009
Click here to read the text of UN Secretary-General Ban Ki-moon's opening remarks at a ceremony launching the Global Assessment Report on Disaster Risk Reduction in Bahrain on 17 May 2009.
China Life to expand microinsurance pilot operations in rural area
BEIJING, 12 May 2009 (Xinhua via COMTEX)
China Life Insurance Co., Ltd will continue expanding microinsurance pilot operations in rural areas, said Su Hengxuan, vice president of China Life.
By the end of 2008, China Life has carried out microinsurance pilot operations in nine of its subsidiaries, covering 2.38 million rural residents and achieving premiums of 41.64 million yuan.
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Microinsurance Flood Protection Card KPSSM by Asuransi Wahana Tata and Munich Re
BBC Asia Business Report, 6 May 2009
Microinsurance Flood Protection Card KPSSM by Asuransi Wahana Tata and Munich Re
Watch report on YouTube
XVIII International Insurance Convention 2009 in Colombia
The XVIII International Insurance Convention 2009, organised by the Federation of Colombian Insurers-FASECOLDA- will take place on 20, 21 and 22 May 2009 at the Cartagena de Indias Hilton Hotel.
The main topic of the event is the financial crisis and insurance. The analysis will include the reinsurers and the insurance brokers' perspective and the view of the representatives of the Latin American Insurance Federations.
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Munich Re pilots Jakarta flood policy
Financial Times, 3 May 2009
Munich Re, the world’s largest reinsurer, has launched the world’s first microinsurance flood cover in Jakarta, targeting millions of poor people living in 24 regularly inundated districts of the Indonesian capital.
The group, which is working with insurer Asuransi Wahana Tata and GTZ, the German government’s international development agency, says the year-long pilot project is primarily a corporate social responsibility scheme.
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SDT signs R2.9m deal with Best Funeral Society in South Africa
IT Web, 29 April 2009
SDT, the insurance software specialist in the JSE-listed SilverBridge group, has added The Best Funeral Society to its growing list of Exergy customers, in a deal worth R2.9 million.
The Best Funeral Society is part of the Hollard Insurance Group and operates independently as a provider of tailor-made funeral package benefits, white label membership and comprehensive claims administration services to insurers, unions, companies, major retailers, undertakers and affinity groups such as churches, burial societies and stokvels.
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Max New York Life to launch universal policies in India
Business Standard, 29 April 2009
Max New York Life Insurance is looking to introduce universal life insurance policies in India.
Rajesh Sud, chief executive officer and managing director, Max New York Life Insurance, said the company was planning to launch a universal life policy, a first-of-its-kind in India, and a health insurance product in this financial year.
Max New York Life recently introduced Max Vijay, an insurance product aimed at rural masses, on the lines of universal policies, as it comes with flexible premium amounts with an element of savings.
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Microinsurance has not grown as much as microfinance
The Hindu Business Line, 28 April 2009
Distribution is by far the greatest retarding factor in the growth of micro insurance in India as well as most developing countries, says Mr Mosleh Uddin Ahmed, CEO of the UK-based Microinsurance Research Centre.
He was one of participants at the training programme on ‘Scaling up Micro Insurance in Developing Countries’, conducted by IFMR’s Centre for Risk Management and Insurance in collaboration with Wharton School, University of Pennsylvania.
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Donewell Life launches microinsurance in Ghana
Ghana Business News, 18 April 2009
Donewell Life Company Limited (DLCL) last week held a mini-launch of the “Edwadifuo Ahobanbo Plan”, a micro-insurance product for traders at Okaishie in Accra Central.
The Edwadifuo Ahobanbo Plan is an investment-linked life insurance policy plus a susu scheme specifically designed for traders, market sellers, spare parts dealers, and itinerant-sales persons to help them plan their life-time security.
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To do well while doing good - an opinion
Melvin J. Esteban is a registered financial planner and a certified financial consultant in the Philippines. He is currently senior vice president of Generali Pilipinas as the head of it’s Bancassurance Channel (in joint venture partnership with BDO). In the Business Mirror (19 April 2009) he writes his thoughts on insurance and microinsurance after having attended the 7th Asian Insurance Council's Insurance Congress.
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