Generali supports the UN Millennium Development Goals with microinsurance
4-traders, 2 February 2012
Generali have presented the Generali Millennium project for the development of microinsurance activities in India, where the Group operates through Future Generali. The project has been created to support the UN Millennium Development Goals programme to encourage growth and improve social and economic conditions in the emerging countries.
Over the next 5 years, three microinsurance projects will be implemented in India to offer accident and health policies to over 2 million subscribers.
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Microinsurance project officer vacancy at Economica Vietnam
Economica Vietnam is a private sector consulting firm based in Hanoi. Its main areas of work include economic research, policy analysis, development consulting, business consulting, and project management. The firm’s field of practice are private sector development, SME development, microfinance, local economic development, regulatory reform, and economic governance.
The firm is looking for qualified candidates for the position of project officer for its on-going and forthcoming projects, especially in the field of microinsurance, microcredit, lending to private sector SME, and sector competitiveness.
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Microinsurance in China developing
International Insurance News, 3 February 2012
China Pacific Life Insurance, the nation’s fourth-largest life insurance company, received approval from the China Insurance Regulatory Commission (CIRC) to expand their rural individual life microinsurance pilot programme to seven more Chinese provinces.
China’s insurance regulator is striving to develop the country’s microinsurance market, particularly in rural areas, in a bid to help mainland farmers and low-income families better manage risks, protect their savings, and expand national insurance coverage in 2012.
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Zambian insurer launches microinsurance product
Zambia Daily Mail, 31 January 2012
Professional Life Assurance has launched a microinsurance product called Bantu Bonse, an insurance policy that will cover people in the low-income bracket and offer financial protection in the event of death. The insurance policy will enable clients to buy insurance cover at a minimum of 30,000 ZMK (6 USD) annually.
It is believed the insurance plan will entail positive effects on the Zambian insurance market. "Introduction of microinsurance products such as the Bantu Bonse life plan will help to increase insurance market penetration as more and more Zambians will be able to afford to take up insurance services," said Mr Libinga from the Pensions Scheme Authority (PIA).
Insurance penetration in Zambia is very low compared to other developing countries in Africa, largely due to lack of awareness on the benefits of insurance among the public, coupled with high premium levels, which low-income groups cannot afford to pay.
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