Paving the way to effective risk financing solutions

CARD Mutual Benefit Association’s (CARD MBA) experiences and strategies in delivering affordable and efficient microinsurance products for the socioeconomically challenged communities in the Philippines is one of the featured talks at the Global Partnership Forum of InsuResilience Global Partnership on December 10, 2018 in Katowice, Poland (COP24).

Dr. Jaime Aristotle B. Alip (3rd from left), the founder and chair emeritus of CARD Mutually Reinforcing Institutions (CARD MRI) where CARD MBA is a member institution, highlighted in his talk the business model and strategic direction of CARD MBA, the 1-3-5 claims settlement. The said scheme ensures that the claim of every policy holder must be given within one day to a maximum of five days.

Moreover, CARD MBA offers life insurance at P15 (USD 0.3) per week to more than six million clients of CARD financial institutions insuring more than 23 million individuals nationwide. CARD MRI is a group of 21 development-oriented institutions that aims to eradicate poverty through microfinance, social protection, and community development.

The 2nd Partnership Forum serves as a platform to exchange experience and knowledge in exploring successful ways to promote climate and disaster risk finance and insurance solutions. At least 200 participants from governments to representatives of international organizations, civil society, private sector, and academia attended the forum.

In the photo are (LR) African Risk Capacity (ARC) Chief of Operational Planning Mr. Papa Zoumana Diarra, Deutsche Welle TV Global Broadcaster Monica Jones, Dr. Alip who also a member of the board of International Co-operative and Mutual Insurance Federation (ICMIF), and InsuResilience Head Dr. Astrid Zwick.

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