The International Cooperative and Mutual Insurance Federation (ICMIF) has welcomed a new member, KASAGANA-KA Mutual Benefit Association, Inc., based in the Philippines to its family of over 290 mutual and cooperative member companies. KASAGANA-KA Mutual Benefit Association, Inc, more commonly known as KMBA, provides affordable insurance products and services to poor women and their families. Established in 2006, KMBA is a sister organization of the Kasagana-Ka Development Center, Inc. (KDCI), whose client-beneficiaries and staff members constitute KMBA’s primary members. Moreover, KMBA offers associate membership to client beneficiaries of its partner microfinance organizations and other organized sectors. KMBA’s initial fund was sourced from a grant from KDCI.
KDCI is a social development nongovernment organization. At the heart of its operation is direct and multiple services to its beneficiaries aimed at creating vibrant economic and social infrastructures in urban poor communities. It uses microfinance as a key strategy in providing additional livelihood opportunities to disadvantaged and vulnerable families in Metro Manila and neighbouring urban areas. As a service organization, it is guided by a perspective that improving the conditions of the urban poor is a multifaceted undertaking. It has therefore combined its savings and loan activities with services that offer fundamental social protection, education, health, and shelter and also including microinsurance through the KASAGANA-KA Mutual Benefit Association (KMBA). Women comprise the primary beneficiaries of KDCI but members of these women's families, particularly children of school age, also directly benefit from the various products and services it offers.
KMBA was registered with the Securities and Exchange Commission in June 2006, and was given a license to operate as a mutual benefit association by the Insurance Commission in April 2007. It is a non-stock, not-for-profit organization which is owned and managed by its members. It also receives technical assistance from the RIMANSI Organization for Asia and the Pacific, Inc., another ICMIF member in the Philippines, which acts as a resource centre for such member-owned microinsurers, especially Mutual Benefit Associations. Rimansi helps to develop these member-owned microinsurers and offers risk management solutions to the. www.rimansi.org).
KMBA aims to be a self-reliant and self-sustaining mutual benefit association that actively and appropriately responds to meet the financial risk management needs of poor Filipino families. Toward this end, it offers microinsurance products and services that provide immediate financial assistance in times of dire needs. In addition to its basic life insurance, KMBA makes available microinsurance packages that can broaden the safety net of the poor. It engages in advocacy and networking activities that seek to render further support to its members. Moreover, it continually seeks to develop cost-effective mechanisms for delivering microinsurance to the poor.
KMBA’s General Manager Silvida Reyes-Antiquera attended the ICMIF Asia and Oceania Association (AOA) Conference held in October 2016 in Tokyo, Japan (see pictures). She was joined by Dexter Flores, Operations Manager of Kabuhayan sa Ganap na Kasarinlan Credit and Savings Cooperative (K-Coop) as well as representatives of other ICMIF member-organizations in the Philippines.