I. Course Objectives
This training aims to enhance the capacity of rural banks to serve as effective access points for microinsurance services for its low-income clients.
It also designed to ensure bank compliance with the following regulations:
- BSP Circular 683-2010: Marketing, Sale and Servicing of Microinsurance Products
- Joint IC-CDA-SEC Memo Circular 1-2010: Defining Government’s Policy on Informal Microinsurance Services
- Insurance Commission Memo Circular 1-2010: Regulations for the Provision of Microinsurance Products and Services (i.e. Institutional MI Agents)
II. Seminar Methodologies:
Cases, Small and Big Group Discussions, Business Games, Lectures
III. Expected Participants:
Bank Heads/Managers, Compliance Officers, Marketing Staff/Officers, Business Development Officers, Microfinance Supervisors/Staff, Loans Officers/Supervisors, Account Officers
We wish to reiterate the value of assigning two (2) or more participants from each bank, one of whom should be a permanent staff, able to serve as microinsurance soliciting officer or point person of the bank.
IV. Course Outline
Day 1 : Module 1 – Microinsurance Basics
- Definition and Target Market
- Household Risk Coping Mechanisms
- Fundamentals of Insurance and Microinsurance
- Types of Insurance Products and Common Riders
- Characteristics of a Good Microinsurance Product
- Risks in providing microinsurance
- Key Performance Indicators
Day 2: Module 2 – Microinsurance in the Philippines
- Microinsurance Regulations in the Philippines
- Licensing Process and Requirements for Rural Banks
- Managing Microinsurance Disputes
Module 3 – Effective Marketing of Microinsurance
- Addressing common misconceptions about insurance
- Ensuring service quality and consumer protection
- Ethical Standards of Practice
Download the Full Details and Confirmation Sheet in PDF