The Microinsurance Network's vision is for a world where people of all income levels are more resilient and less vulnerable to daily and catastrophic risks through improved access to effective risk management tools.
The Network's mission is to promote the development and delivery of effective insurance services for low-income people by encouraging shared learning, facilitating knowledge generation and dissemination, and providing a multi-stakeholder platform.
In support of its mission, the Microinsurance Network:
- Distils and disseminates lessons learnt to promote client-driven and good-value insurance;
- Raises awareness on the demand and potential for microinsurance among key stakeholders;
- Contributes to the development of good practices for the industry.
The Microinsurance Network works with a broad range of stakeholders and maintains in all its activities low-income at its centre, prioritising work and actions that meet clients’ needs and protects their interests and well-being.
The Microinsurance Network is coordinated by the Board of directors and a secretariat. The chair has been held by Craig Churchill from the ILO since 2002. Alexia Latortue from CGAP is the vice chair and Michael McCord from the MicroInsurance Centre is treasurer. The Microinsurance Network is organised into a number of working groups, discussion groups and task forces to allow in-depth work on specific topics and issues.
The Microinsurance Network was originally established in 2002 as the CGAP Working Group on Microinsurance by donor organisations, multilateral agencies, insurance professionals and other interested parties involved in the promotion and support of microinsurance in developing countries.
In March 2002, 16 experts met for the first time in Geneva to discuss the need for an exchange and learning platform to ensure microinsurance fulfils its potential. The result was the first project of the Network: "The Good and Bad Practices in Microinsurance" project. More than twenty case studies, co-funded by Sida, GTZ, DFID and the ILO, were published from 2004 to 2006 and provided the basis for the key publication "Protecting the Poor: A Microinsurance Compendium" in 2006 and the Microinsurance In Focus notes. A year after the first meeting, in May 2003 in London, the first Working Groups (Operations, Demand and Dissemination) were created to better coordinate the group’s activities.
After having outgrown its informal systems and procedures, the Microinsurance Network decided in 2007 that it needed a clearer membership and organisational structure to accommodate the expansion of interest and activities in microinsurance and the arrival of more and new stakeholders. The Microinsurance Network was officially launched in 2009.
Since then, the Network has grown to have just under 70 institutional members representing over 200 experts in 15 different working and discussion groups. In addition, as of the 31 May 2012, the Microinsurance Network became an independent structure and registered as a non-for-profit organisation in Luxembourg. 2012 is also the 10 year anniversary of the Microinsurance Network.
International Microinsurance Conference
The International Microinsurance Conference brings together experts from around the world and from all types of institutions to exchange experiences and discuss the challenges of extending insurance services to low-income people.
The annual event is sponsored and co-organised by Munich Re Foundation. The first International Microinsurance Conference was held in Munich (Germany) in October 2005 and brought together over 90 experts. Subsequent conferences were held in Cape Town (South Africa), Mumbai (India), Cartagena (Columbia), Dakar (Senegal), Manila (Philippines) and Rio de Janeiro (Brazil). The next conference will be held in Dar es Salaam, Tanzania in November 2012. The Microinsurance Network always holds its General Assembly on the day after the conference.
Disclaimer: Each member of the Microinsurance Network is solely responsible for ensuring the quality and sustainability of its microinsurance activities. Membership in the Microinsurance Network is not in any way an endorsement of individual or institutional members or their activities. Therefore the Microinsurance Network cannot be held liable in any manner for its members’ activities.