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TOPICS TO BE DISCUSSED
I. Brief Description of CARD MBA
II. Contributions of CARD MBA to Microinsurance Industry in the Philippines
Claims Settlement Model Product Development Model Contribution to Insured Filipinos BOAT Program Microinsurance Model Community Development Service thru CDRAP
III. Strengths of CARD MBA CARD MRI Networks MBA Coordinators General Membership
IV. Current Challenges
CARD MBA as Microinsurance Arm of CARD Mutually Reinforcing Institutions
(CARD MRI)
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CARD Mutually
Reinforcing Institutions
“Mga Institusyon sa iisang Misyon”
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CARD Mutually Reinforcing Institutions (CARD MRI)
NAME OF INSTITUTIONYEAR
ESTABLISHEDNATURE OF BUSINESS
CARD, Inc. or CARD NGO 1986 Microfinance
CARD Rural Bank 1997Microfinance- oriented rural
bank
CARD Mutual Benefit Ass’n Inc. (CARD MBA) 1999 Microinsurance
CARD-MRI Dev’t Institute, Inc. (CMDI) 2005Training Institute for staff,
members & public
CARD Business Dev’t Service Fdn. (BDSF) 2006 Business development
CARD MRI Insurance Agency (CaMIA) 2007 Insurance Agency
CARD MRI Information Technology
(CMIT)2010 Information Technology
CARD SME Bank 2010Microfinance-oriented thrift
bank
BotiCARD 2011 Pharmacy
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Automatic Membership to CARD MBA
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BOAT PARTNERS
BOAT PARTNERS
Major contributions of CARD MBA to the Microinsurance Industry
in the Philippines
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FUNERALHOSPITAL MEDICALEXPENSES
DEATHSICKNESS
DISABILITY
INCOME FROM
MICROCREDIT
CYCLE OF POVERTY CAUSED BY MISFORTUNEINCOME FROM MICROCREDIT REMAINS !!!
MICROINSURANCE CAN BREAK THE CYCLE OF
POVERTY
Functions of Microinsurance
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Claims Settlement …
3
If the dead body is already buried at the time
of validation and with complete documents, the
claim must be settled within three days upon
notification.
5[
On the 5th day upon notification, all claims must be given action with finality.
Claims with incomplete documents will be given
denial letter but still can be settled upon completion of required documents thru
the letter of reconsideration.
1-3-5-day Target in Claim’s Settlement
This Claim Settlement Model is replicated by at least ten (10) organized groups providing formal or informal microinsurance program to their member-clients
1If the dead body is not
yet buried at the time of validation, the claim must
be settled within 24 hours upon notification.
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1-3-5 DAY TARGET PERFORMANCE
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PER TYPE OF BENEFIT 1 DAY 2 DAYS 3 DAYS 4 DAYS 5 DAYSRECONSIDE
RED CLAIMS
TOTAL
DEATH
MEMBER 3,912 36 24 13 23 17 4,025
% 97.2% 0.9% 0.6% 0.3% 0.6% 0.4% 100.0%
LEGAL DEPENDENT 7,608 1282 980 602 754 831 12,057
% 63.1% 10.6% 8.1% 5.0% 6.3% 6.9% 100.0%
MVAH
MEMBER 1,543 181 101 40 104 158 2,127
% 72.5% 8.5% 4.7% 1.9% 4.9% 7.4% 100.0%
SPOUSE 1,653 165 117 64 130 183 2,312
% 71.5% 7.1% 5.1% 2.8% 5.6% 7.9% 100.0%
OVERALL RATING
14,716 1,664 1,222 719 1,011 1189 20,521
64.5% 10.1% 7.6% 4.6% 6.2% 7.1% 100%
92.9%
Members97% Paid within
1-3-5-day Target
Legal Dependents
93% Paid within 1-3-5-day
Target
Pilot Test
CARD MBA Product Development Model
Feedback
Roll Out
Monitoring
Adjustment (if any)
Risk Profiling
Adjustment (if any)
Engagement of
Stakeholders
Adjustment (if any)
Proto-typing
EVALUATION
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Products Developed
1. Life Insurance Program Accidental Death Total & Permanent Disability Motor Vehicular Accident Hospitalization Benefit Refund of Contributions
2. Retirement Savings Fund Mandatory Exit Age at 70 Optional Retirement at ages 65, 66, 67, 68 & 69
3. Loan Redemption Fund Amount of benefit = Principal amount of loan Automatic Loan Offsetting upon Total & Permanent Disability
4. Package Assistance in Case of Disaster (PAID) Plan Personal Accident Funeral Benefit Re-house (Residential Insurance) All rights reserved CARD MBA
2012
Contributions to Number of Insured Filipinos
7.5 Million insured individual contributes 19% to total insured Filipinos
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Build Operate And Transfer Program
C
AR
D M
utua
l Ben
efit
Ass
ocia
tion,
Inc
.
1. Are you willing to provide microinsurance products to
your members ?
2. Do you have Php 5 million for guarantee fund?
3. Do you have the capacity to run your own micro-
insurance program?
Get into the BOAT of CARD MBA…
YES
NONE
NONE
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VALUE PROPOSITIONS of the VALUE PROPOSITIONS of the BOATBOAT PROGRAM PROGRAM
1. MEMBERSHIPThe members of BOAT Partner will be members of CARD
MBA enjoying the same benefits as CARD members.
Build Operate And Transfer Program
3. DISENGAGEMENTAfter three (3) years, all those entitled for the refund of
contribution will be turned over to the BOAT partner’s own MBA together with their refund of contribution to become their seed capital.
2. PERIOD OF ENGAGEMENT: THREE YEARS
During the 3-year period, there will be technical assistance and transfer of technology in the management of a mutual benefit association.
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PARTNERSHIP
CARD MBA PRESENTATION
WORK PLAN and PRO-FORMA MOA
REVIEW
ASSESSMENT OF BRANCH & CENTER
ACTIVITIES
ASSESSMENT OF BRANCH & CENTER
ACTIVITIES
DEVELOPMENT ofIMPLEMENTING RULES
and FINALIZATION of MOA
MOA SIGNING and TRAINING of the
MANAGEMENT TEAM of BOAT PROGRAM
MOA SIGNING and TRAINING of the
MANAGEMENT TEAM of BOAT PROGRAM
The BOAT Framework The BOAT Framework
ASSESSMENT & MONITORING
ASSESSMENT & MONITORING
FINALIZATION ofIMPLEMENTING
RULES
FINALIZATION ofIMPLEMENTING
RULES
“Get into the BOAT of CARD MBA” “Get into the BOAT of CARD MBA”
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CARD MBA is the Microinsurance Model of 12 Partners of Rimansi
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•CARD MRI DISASTER RELIEF ASSISTANCE PROGRAM
•MASS WEDDING
•SCHOLARSHIP PROGRAM
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None financi
al Servic
es
CARD MRI Disaster Relief Assistance Program
Without additional member’s contribution, relief goods
are given to all member-victims of natural disasters like:
a. Earthquakes;
b. Floods;
c. Landslide;
d. Volcanic eruption;
e. Fire
f. Typhoon
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Types of Perils No. AmountThyphoon 43,302 11,766,365.07Flood 120,123 38,985,762.95Fire and Lightning 755 465,460.47Tidal Wave 3 1,275.65Twister 8 1,819.60Earthquake 1,103 299,599.50Landslide 1 300.00
Total 165,295 51,520,583.24
CDRAP for 2012
CARD MBA’s STRENGHTS
1. CARD MRI Networks Assist in the collection of contribution
thru the weekly Center Meeting
Assist in the Information Education Campaign
2. MBA Coordinators Assist in the claims settlement
3. General Membership CARD MBA is 100% owned by the
Members
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CURRENT CHALLENGES AND OPPORTUNITIES
Strengthening staff capacity building program to respond to expanding membership.
To develop Crop Insurance products for the members.
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