In 1986, we had a dream of establishing a bank and an insurance company that would be owned and managed by people on low incomes. Today, that dream is a reality, with the Centre for Agriculture and Rural Development Mutual Benefit Association (CARD MBA) emerging as a world-class leader in microfinance. CARD MBA is the insurance arm of microfinance leader CARD Mutually Reinforcing Institutions (CARD MRI), a group of organisations established to empower rural communities in the Philippines and help alleviate poverty, including a bank, a microinsurance provider and a development institute.
From the very beginning, as an informal programme for landless coconut farmers, the founding principle of CARD MBA has been that communities are not just policyholders, but also owners, with a voice in how the organisation is governed and run. Mutual ownership helps build trust, which is central to uptake, retention and long-term sustainability.
Trust is also built through action. Through a combination of coordinators, staff, technology and the CARD MBA mobile app, we are able to validate and pay claims “on demand” within hours and therefore fulfil our promise to our members to be there at their time of need.
This operational efficiency enables CARD MBA to maintain affordable premiums, pay a high volume of claims and extend coverage to entire families, without the pressure to generate returns for external shareholders.
Along the way, we have faced several challenges, including the lack of relevant legislation. We have also learned many lessons, which we will be sharing during the upcoming Mutual Microinsurance Network Seminar, to be held on 17–19 June 2026 at the AIM Conference Center in Makati City, Philippines.
The seminar will bring together practitioners, partners and thought leaders to share knowledge and experience on how to build scalable, sustainable and impactful mutual microinsurance programmes that truly serve low-income communities.
We invite microinsurance leaders, regulators, development partners and mutual insurers to join this conversation. By sharing experiences, challenges and innovations, we can collectively strengthen the role of mutual and community-based insurance in reducing vulnerability and expanding financial protection for low-income communities worldwide.
Today we are reaching almost 30 million low-income individuals across all the islands of the Philippines due to our mutual ethos and community-based distribution network. I strongly believe we can replicate the success of the CARD model to other areas of the world, be it in developed or emerging markets, the needs of low-income underserved populations are the same. We are ready to share our know-how, technical expertise and decades of experience with fellow ICMIF members wanting to embark on the same journey as we did forty years ago.
If you are ready to work together and close the protection gap in your own country, then please join us in Manila on 17-19 June!
