ICMIF members CARD Mutual Benefit Association (CARD MBA, the Philippines) and CIC Insurance Group (Kenya) have strengthened their commitment to advancing mutual microinsurance through the signing of a new Memorandum of Understanding (MOU) on mutual technical assistance during the recent ICMIF Foundation Mutual Microinsurance Network Seminar in Manila.
The agreement provides a framework for continued collaboration, knowledge exchange and joint initiatives between CARD MBA and CIC Insurance Group across Kenya and Malawi. CARD MBA is the largest mutual microinsurance provider in the Philippines, while CIC Insurance Group is Africa’s largest cooperative insurance group, with operations in Kenya, Malawi, Uganda and South Sudan.
The new MOU marks the second formal partnership agreement between the two organisations and builds on a successful learning exchange programme under the United Nations Development Programme (UNDP) and ICMIF Insurance Innovation Challenge (IIC) projects.
Under the three-year agreement, CARD MBA will provide technical assistance to CIC in key areas including governance and scalable programme execution, capacity building and market development, actuarial sustainability and risk management, and information technology and management information systems enhancement.
Prior to the signing ceremony, representatives from CARD MBA, CIC Insurance Group and the ICMIF Foundation met at the AIM Conference Center in Manila to review progress and identify opportunities for deeper collaboration. Discussions focused on practical solutions to operational challenges, including claims verification processes and alternative methods of validating claims in situations where official documentation may not be immediately available.
Participants also highlighted the importance of peer-to-peer learning, field immersion visits and open exchange of experiences in accelerating innovation and the adoption of best practices within the microinsurance sector.
One of the key areas under exploration is the establishment of in-house training academies to develop specialised microinsurance expertise. CARD MBA shared insights from its experience in training professionals across information technology, accounting and healthcare disciplines to support the growth of its microinsurance operations.
Speaking during the event, Zachary Wambugu, Managing Director of CIC Cooperative Life Assurance Limited (Malawi), said the impact of the IIC programme was beginning to gain momentum: “We will continue to push forward. While the IIC project may be nearing completion, education and awareness efforts are now beginning to bear fruit. We are headed in the right direction and believe we have what it takes to significantly grow microinsurance across our markets.”
Michael Mugo, Managing Director Designate of CIC Microinsurance (Kenya), emphasised the value of learning from proven models, saying: “The partnership with CARD MBA has been extremely valuable. It keeps us inspired as we continue to redefine success in microinsurance. We do not need to reinvent the wheel; we can learn from CARD MBA’s experience and the impact it has already demonstrated.”
Patrick Nyaga, Group MD & CEO of CIC Group added that the partnership was helping accelerate the organisation’s microinsurance ambitions across the region: “We are excited about the opportunity to replicate the CARD MBA model. Since we first began visiting the Philippines in 2024, we have seen encouraging progress and growing support for microinsurance. This MOU represents an important milestone for Kenya and Malawi, and as we expand, we hope to extend these initiatives to South Sudan and Uganda.”
Dr Nelson C Kuria, the Group Chairman, CIC Group reiterated that delivering Microinsurance required a unique approach best exemplified by the CARD MBA model. He said: “By drawing lessons from the proven success of the CARD MBA model, CIC Group can accelerate its microinsurance journey, avoid common pitfalls, and scale sustainable solutions that create lasting value for vulnerable populations.”
Reflecting on CARD MBA’s journey, Dr Jaime Aristotle B. Alip, Founder and Chairman Emeritus of CARD MRI (Philippines), highlighted the organisation’s commitment to community ownership and financial inclusion saying: “Today, CARD MBA is recognised globally as a leader in microinsurance. From the beginning, our belief was that communities should not only be policyholders but also owners. This mutual ownership model-built trust, while operational efficiency enabled us to keep premiums affordable and settle 97% of claims within hours. We are committed to sharing our experience to demonstrate that mutual microinsurance can be successfully scaled and can play a transformative role in protecting low-income communities.”
The MOU will remain in force until 2029 and was facilitated through the ongoing collaboration between the organisations ahead of the ICMIF Foundation Mutual Microinsurance Network Seminar held from 17–19 June in Manila.
The seminar brought together mutual and cooperative insurers from around the world to exchange knowledge and explore innovative approaches to extending affordable and appropriate insurance protection to underserved populations.
Commenting on the significance of the agreement, Sabbir Patel, CEO of the ICMIF Foundation, said: “Partnerships such as the one between CIC Insurance Group and CARD MBA demonstrate the unique strength of the ICMIF network, where mutual insurers collaborate towards a shared purpose. The relationship began at the ICMIF Conference in Rome in 2022, and we are delighted that our inaugural Mutual Microinsurance Seminar in Manila has helped formalise the next phase of cooperation.
“The Foundation will continue supporting microinsurance initiatives in Kenya and Malawi, with the ambition of replicating the success achieved through the 555 projects in India and the Philippines. Thanks to the support of ICMIF member donors to the UNDP-ICMIF Insurance Innovation Challenge, we now have a strong platform to scale mutual microinsurance and deepen the partnership between CARD MBA and CIC Insurance Group.”
The renewed partnership underscores the growing role of international cooperation in expanding financial protection for underserved communities and advancing the reach of sustainable, member-owned insurance solutions across Africa, Asia and South America.
