Corporate Capability Statement - microinsurancecentre.org · The MicroInsurance Centre, LLC 2...
Transcript of Corporate Capability Statement - microinsurancecentre.org · The MicroInsurance Centre, LLC 2...
“Developing partnerships to insure the world’s poor”
Corporate Capability Statement
Mission: To get SUAVE (simple,
understood, accessible, valuable,
and efficient) microinsurance
products in the hands of 3 billion
people across the globe.
Introduction
Organization The MicroInsurance Centre office controls the project management, accounting, and consultant
involvement for all of its projects. All projects are led by Michael J. McCord, founder and president of
the MicroInsurance Centre, who remains responsible for coordinating with partners and clients and
ensuring the success of the projects. Various aspects of certain projects are distributed to consultants
based on expertise, experience and demonstrated ability of the consultant.
The MicroInsurance Centre, LLC is a consulting firm dedicated to generating access to valuable
microinsurance products to 3 billion low-income people across the globe. This is accomplished by
working with regulated insurers and appropriate delivery channels who can efficiently provide simple,
market-responsive microinsurance products. Our clients include commercial insurers, foundations, bi-
and multi- lateral development agencies, regulators, NGOs and others. These organizations work with
us to ensure the best potential for success with their microinsurance activities. Our work with clients
includes various aspects of microinsurance, from product development and training to research and
advocacy. Our team has implemented microinsurance activities in over 70 countries during the last
twenty years.
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Staff
Michael J. McCord, President, brings over twenty years of experience in microfinance and microinsurance to the table, including time as the Regional Director for
microfinance programs in Africa before founding the MicroInsurance Centre in 2000. He has conducted extensive research in microinsurance and
microfinance and has published documents on case studies, pilot testing, roll-out, the feedback loop for microfinance institutions, and MFI accounting and
analysis. He is based out of Appleton, Wisconsin, USA.
Katie Biese, Senior Project Manager, has over eight years of international development experience, including two and half years with microfinance initiatives
in Moldova and Nepal. She joined the MicroInsurance Centre in 2013 after earning a Master’s in Development Management from American University in
Washington, DC. She supports the team with project management, research, and business development, and managed the 2013 Latin America and 2014 Africa
landscape studies of microinsurance. She obtained the Associate Life Management Institute (ALMI) designation from LOMA in 2016 and is based out of Appleton,
Wisconsin, USA.
Dawn White, Assistant to the President of the MicroInsurance Centre. She has over 20 years of experience owning and managing her own business, along
with a decade of insurance background. She joined the MicroInsurance Centre as the Assistant to the President in December 2012. Dawn is very excited to be a
part of this brilliant team and making a real difference in the lives of others.
Mariah Mateo Sarpong, Project Manager/Communications Specialist, has been a member of the MIC since 2012, during which she has been a key
researcher and coordinator for the regional microinsurance landscape studies. Mariah’s international development experience includes projects in St. Kitts and
Nevis, Costa Rica, Uganda, and Sierra Leone as well as a Vittana fellowship in the microfinance sector in Ghana. Mariah holds a Bachelor's degree in Anthropology,
Spanish, and International Studies from Lawrence University and is currently pursuing her Master’s in Community Development Policy and Practice at the Carsey
School of Public Policy, University of New Hampshire. She is bilingual in English and Spanish and is based out of Milwaukee, Wisconsin, USA.
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Core Consultants
Clémence Tatin-Jaleran is an independent consultant with extensive actuarial training. She holds a Master’s degree in Financial and Actuarial Sciences
from the Financial and Insurance Sciences Institute in Lyon, France, and is a Fellow of the Institute of Actuaries in France. She has ten years of experience
working in the insurance field, including six years in microinsurance. Additionally, she has substantial on-site product development experience and has
worked with microfinance institutions (MFIs), insurers, rural banks, and other non-profit organizations in Peru, Bolivia, Mali, Egypt, Bangladesh, India,
Vietnam, Indonesia and the Philippines. She is based out of Vancouver, Canada.
Roland Steinmann is an independent consultant whose previous experience includes six years as a reinsurance underwriter for Swiss Re and two years
as a logistics consultant. Since 2006, Steinmann has run his own consulting business and he has acted as a consultant for the MicroInsurance Centre since
2008. He is also an active member of the MicroInsurance Network and is co-founder of the Fair Trade Insurance Initiative, which promotes innovative
insurance solutions for smallholders in developing countries. His work focuses on market research, product development and distribution channel
development. He is based out of Zurich, Switzerland.
The MicroInsurance Centre has the privilege of employing many expert consultants in microinsurance and other areas of the development field. The following consultants
constitute the core team of consultants that the MicroInsurance Centre works with frequently and closely to achieve not only project outputs but also organizational strategic
goals.
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Product Development
• The MicroInsurance Centre workswith organizations all around theglobe assisting them through someor all of the product developmentprocess to ensure that products areresponsible, professional, legal,prudent, marketable and profitable.The product development processincludes process planning andassessment, supply and demandside research, stakeholderworkshops and trainings, partnerselection, product design,partnership development andmanagement, pilot testing, roll out,review and assessment andcontinued monitoring to ensure theviability and profitability of theproduct.
Research
• The MicroInsurance Centre hasproduced a number of informativeresearch studies including: the MILKseries of client math studies, RCT(randomized control trial) studies,and business case studies, as well asinstitutional case studies, landscapemapping, pre-feasibility andfeasibility studies on various issueswithin the industry ranging fromregulatory framework to supply anddemand. We have worked withmany different organizations and ina wide variety of countries. Ourresearch has been published invarious academic publications andindustry periodicals.
Advocacy
• The MicroInsurance Centre leadstraining workshops at various levels,speaks in international and nationalforums and actively participates in,and often leads, various workinggroups on key topicsin microinsurance. With goodworking relationships amongnumerous insurance supervisorsand regulators around the world,we facilitate dialog aboutmicroinsurance policy betweeninsurers and regulators to promotethe best ideas and practices.Advocacy and education are alwaysbuilt into our projects as part of ourmission to develop partnerships toinsure the world’s poor.
Services and Expertise The Microinsurance Centre promotes quality microinsurance through work in product development, research and advocacy (for a
description of each see below). The MicroInsurance Centre has extensive experience in market research, product development,
capacity building, pilot testing, process efficiencies, mentoring, partnership development and management, program and product
evaluation, actuarial pricing and risk assessment, technical support and microinsurance regulation and supervision.
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Throughout all consulting work, the MicroInsurance Centre is guided by four core philosophies: “SUAVE”, the “Magical Balance,” local
capacity building, and evolution of products; all of these have been built from years of experience with dozens of microinsurance
programs across the globe. The ultimate goal is to create SUAVE microinsurance products that have value for clients and
represent a business case (e.g. are sustainable) for the insurer and distribution channel.
The MicroInsurance Centre works with institutions
to ensure that each of the microinsurance products
has the following critical “SUAVE” characteristics:
The Magical Balance philosophy recognizes that there
needs to be value on both ends of the value chain: there
should be long-term, reasonable profit for insurers and
distributors on one end, and a product that provides clear
value for clients on the other. These two goals – business
case and client value – can often seem to conflict with
each other. The MicroInsurance Centre works with
partners to understand the interplay of business case and
client value, and to find that “magical balance” in which
they complement and strengthen each other.
We believe in the evolution of products; while credit life can serve
as a valuable entry point for insurance, and if done correctly
provides good value for clients, an institution’s microinsurance
offerings should not end there. There are many needs of low-
income clients in terms of risk management, as well as competition
from other providers and distribution channels. In order to develop
a range of products that benefit clients, and stay ahead of
competition by being known as innovative institutions that is
always working to help its clients, new products will be necessary.
The MicroInsurance Centre works with partners from the outset to
consider and plan for an evolution of products that meet the
variety of clients’ risk management needs.
As consultants we seek to support the development of local capacity; the MicroInsurance Centre is committed to transferring skills to our partners
in a way that they can continue to microinsurance evolution without continually requiring consultant assistance. Though our process does not
provide continual business for us from the same clients, it does create a more sustainable environment for the continued expansion of
microinsurance that benefits the low-income markets and our partners.
SUAVE Magical Balance Product Evolution
Local
Capacity
Value for clients
Business Case for prov iders and
distribution channels
The Magical Balance
Guiding Philosophies
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One of the MicroInsurance Centre’s core competencies is microinsurance product development (for which we wrote the book). Many of our various clients have risen to be internationally recognized as successful innovators in microinsurance including: Pioneer Insurance (Philippines), Star Microinsurance (Ghana), MicroFund for Women (Jordan), Banco Compartamos (Mexico) and many others. Our clients and what they have been able to do are the best sign of the quality we bring to a project. Additionally, over the years we have assisted various different consulting firms in their microinsurance development. The MIC’s process of microinsurance product development is detailed in our manual on microinsurance product development for MFIs.[1] In general the new product development process we follow is as shown in the graphic to the right. We consider product development in the broad sense to include everything from concept development to roll out and continual assessment, as well as development and assessment of supportive processes (we wrote that book too), regulations, meso-level support organizations and distribution relationships.
[1] McCord, Michael J. Microinsurance product development for microinsurance providers. IFAD, 2012.
Product Development – the MIC Approach
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In addition to incorporating advocacy and education into all our projects, the MicroInsurance Centre Team frequently presents at conferences and delivers workshops and trainings worldwide. Below are just a few examples of our most recent advocacy work.
Douala, Cameroon. IAIS-A2ii-CIMA Mobile Insurance Conference. 23 – 24 February, 2017.
Washington DC, US. Back to Boulder: Strategic Response to Risk in Microfinance Markets. 2 December, 2016. Colombo, Sri Lanka. 12th International Microinsurance Conference. 14 – 18 November, 2016.
Toronto, Canada. ‘Microinsurance Matters’ at York University. 26 September, 2016.
Turin, Italy. 22nd Annual Boulder Microfinance Training (MFT) Program 2016. 18 July – 5 August, 2016. Cairo, Egypt. Microinsurance Learning Sessions: Paving the way for financial inclusion. 30-31 May, 2016
London, UK. Microinsurance Event for Actuaries. 12 May, 2016.
Kingston, Jamaica. Microinsurance Week. 2 – 6 May, 2016.
Kigali, Rwanda. MIC Microinsurance Training Workshop. 9 – 11 February, 2016.
Lagos, Nigeria. MIC Microinsurance Business Planning Workshop. 27 – 29 January, 2016.
Casablanca, Morocco. 11th International Microinsurance Conference. 3-5 November, 2015
Sharm El Sheikh, Egypt. Sanabel 2015 Conference. 20-21 October, 2015.
Research Advocacy ✓ Microinsurance pre-feasibility studies
✓ Feasibility studies
✓ Landscape studies
✓ Business case
✓ Client math
✓ Regulatory framework
✓ Supply and demand
✓ Concept papers
✓ Evaluations
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Major Clients
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Nature of Assignment Client Geographic Coverage Year(s) of Assignment
Updating report on microinsurance market in Egypt GIZ Egypt 2017
Training support: enhancing capacity of training institutions in Egypt for microinsurance development
Japan International Cooperation Agency (JICA) Egypt 2017 – 2018
Promote access to insurance services of quality, value and safety for low income groups and contribute to broader financial inclusion
World Bank Ethiopia 2016-2017
Develop a sustainable microinsurance training curriculum GIZ Nigeria 2016
Conduct a training program with the objective of developing the capacity and skills of insurance sector players
Ministry of Finance and Economic Planning (MINECOFIN)
Rwanda 2016
Implement Regulatory Road Map activities supporting inclusive insurance
A2ii / IAIS Colombia and Jamaica 2016
Facilitate development of a microinsurance framework for Egypt with EFSA and the market
Japan International Cooperation Agency (JICA) Egypt 2015-2016
Development of two case studies on proportionality in practice Access to Insurance Initiative (A2ii / IAIS) Global 2015-2016
Project Assessment, Regulatory study GIZ Indonesia, Mongolia, Nepal, Philippines, Thailand 2015
Product Development, Regulatory study Inter-American Development Bank (IDB) Belize 2014-2015
Landscape Studies - Regional Microinsurance Network (MIN) Latin America and the Caribbean, and Africa 2014-2016
RCT on impact of timing of MI messaging on microfinance
client for improved understanding and uptake of insurance CGAP Colombia 2014 - 2015
Product design and implementation strategy Women’s World Banking Morocco, Uganda, Egypt, Brazil, México 2014 - 2016
Regulatory Impact Assessment GIZ Philippines 2014
Development of a Strategic Framework for Financial Inclusion in
Thailand Asian Development Bank (ADB) Thailand 2012 – 2015
Product design and implementation strategy Women’s World Banking Peru 2012 - 2013
Insurer mentoring GIZ Ghana 2012 - 2013
Client Math study Coffey International Development Cambodia 2012 - 2013
Selected Examples of Projects, Clients, and Locations
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Nature of Assignment (cont.) Client Geographic Coverage Year(s) of Assignment
Major study of value of MI and MI business case (MILK project) A major foundation Global 2010 - 2014
Training in microinsurance development, management, delivery Boulder Institute, USAID, Zurich Insurance, Bank Acadamie, PMN Pakistan, dozens of others
Global 2005 - 2014
Support the microinsurance component of MABS-4 project Chemonics / USAID Philippines 2011 - 2012
Insurer mentoring GTZ Ghana 2009 - 2011
Product development and complaints management legal structure USAID/AED West Bank, Palestine 2009 - 2011
Midterm evaluations of three large microinsurance grantees A major foundation Ghana, Uganda, Tanzania, India,
Pakistan, Philippines and others 2010
Africa Landscape study ILO Sub-Saharan Africa 2010
Strategy development and product design Women’s World Banking Jordan 2006-2010
General market evaluation Lloyd’s of London Worldwide 2010
Product development, TA to Microfinance Network,
microinsurance manual production IFAD Vietnam, Armenia, Global 2007 - 2010
Microinsurance benchmark data base business plan World Bank Global 2009 and 2010
Opportunities for distribution of microinsurance MICRA/Bank Andara Indonesia 2010
Six pre-feasibility studies KfW Azerbaijan, Albania. Georgia, Ukraine,
Uganda, and Romania 2004 - 2008
Country microinsurance assessment Asian Development Bank (ADB) Sri Lanka 2006 - 2007
Landscape study A major foundation World’s 100 Poorest Countries 2006
Three pre-feasibility landscape studies KfW, UNDP, Allianz, and GTZ India, Indonesia, and Laos 2005
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1045 N. Lynndale Drive, Appleton, WI, USA 54914 Phone: +1 (920) 257-2179 www.MicroInsuranceCentre.org [email protected]
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