Tools & Resources Smart Microinsurance: An Overview for Microfinance Institutions on Incorporating Client Protection Practices into Microinsurance

Smart Microinsurance: An Overview for Microfinance Institutions on Incorporating Client Protection Practices into Microinsurance

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The Smart Campaign and the Microinsurance Network present “Smart Microinsurance”—a tool designed specifically for microfinance institutions (MFIs) that serve as intermediaries, offering microinsurance products provided by an external insurance company.

The Smart Campaign and the Microinsurance Network present “Smart Microinsurance”—a tool designed specifically for microfinance institutions (MFIs) that serve as intermediaries, offering microinsurance products provided by an external insurance company.

The tool outlines key client protection guidelines for the following phases of the microinsurance process:

  • Introducing the Client to Microinsurance
  • Collecting and Protecting Client Information
  • Activating the Insurance Policy
  • Collecting Premiums & Ongoing Customer Service
  • Responding to Claims

It also provides: guidelines for appropriate product design; guidelines for partnering with other service providers; and social performance ratios for evaluating the effect of microinsurance on clients.

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