More than 3 million (3,221,645) people are now covered by mutual microinsurance, thanks to ICMIF’s 5-5-5 Mutual Microinsurance Strategy which is currently operational in two of the five countries which feature in the strategy.
Since June 2016, ICMIF has been working with local project partners and its member organisations to make a difference in the Philippines, India, Kenya, Colombia and Sri Lanka. Through the 5-5-5 Strategy, ICMIF aims to expand the reach of mutual microinsurance in these five countries over the a five year period by reaching 5 million currently uninsured, low-income households (equating to 25 million individuals).
In the Philippines, ICMIF is partnering with its local member organisation on the 5-5-5 country intervention. RIMANSI is an association of 17 microinsurance mutual benefit associations (Mi-MBAs) and a microinsurance technical resource centre. It was established in 2005 by leading micro financial institutions (MFIs) to help professionalise the management of Mi-MBAs in the Philippines and replicate the Mi-MBA business model.
In India, ICMIF is partnering with its member organisations Uplift Mutuals and the Development of Humane Action (DHAN) Foundation on the 5-5-5 country intervention. Uplift Mutuals, established in 2004, is the pioneer of a community-owned health mutual programme with a health ecosystem approach. It has developed an entirely community-owned health risk model that serves to reduce out-of-pocket expenses for its members and provides access to quality, preventive and promotive healthcare services at affordable rates.
DHAN, established in 1997, works to reduce poverty in poor and marginal communities such as among small farmers and small traders. Through its alliances with over 62,000 self-help groups and 418 federations, DHAN reaches over 1,500,000 households across in 14 Indian states and has helped to move more than 340,000 households out of poverty. Its mutual risk coverage programmes currently cover more than 350,000 families.
In the remaining countries of Kenya, Colombia and Sri Lanka, ICMIF continues to work with local member organisations to develop an intervention strategy ready for implementation. The next country intervention is expected to take place in Kenya in February 2018, followed by Colombia and then Sri Lanka.
ICMIF’s 5-5-5 project is currently supported by 20 ICMIF member organisations from 13 countries across the world. ICMIF members can obtain information on how to support the 5-5-5 Mutual Microinsurance Strategy in more detail by contacting Tina Blain, Resource Mobilizer, ICMIF at email@example.com or (+44) 161 929 5059.
Photo shows: Opening of new Uplift Mutuals office in Mumbai, India as part of the 5-5-5 country intervention there.