4th microinsurance round table meeting
DESCRIPTION
TRANSCRIPT
October 3, 2011RBAP Conference Hall, Intramuros, Manila
Session 1:
Updates on the RBAP MI Basic Training Program and Turn-key MI Agent Licensing Approach
By:
GHAY LYNE MAPANOMicroinsurance Coordinator
RBAP-RBRDFI
Where are we now?
Microinsurance Innovation Facility Grant (September 2010)
13Pilot Banks (January 2011)
136Rural Banks trained in Basic MI
(August 2011)
270 rural bank staff trained
(August 2011)
ICapproval of RBAP as
Microinsurance Training Provider
100 or more rural banks with 1,000 or more branches and OBOs licensed as MI
agents
1,000,000 or more microenterprise clients and 3,000,000 of their household members
covered by microinsurance
2013
Criteria Number(as of September 30, 2011)
No. of Banks Trained in Basic MI 136
No. of 2-day Basic MI Training courses conducted 12 batches
No. of Bank staff trained and now qualified as MI Soliciting Officers 270
No. of Banks that submitted request for BSP No Objection Notice 48
No. of Banks issued BSP No Objection Notice 26
No. of Banks approved for MI Agent Licensing 7
No. of licensed Bank MI Soliciting Officers 11
Microinsurance Status Update
Federation-Hosted MI Trainings
La Union Chamber of Rural Banks
Confederation of Bicol Rural Bankers
Federation of Metro Manila Rural Bankers
Leyte-Samar-Biliran Federation
Northwestern Mindanao Federation
Iloilo Federation of Rural Banks
Open Seminars
Manila
Cagayan de OroDavao
Cebu
Baguio October 13-14
BATCH CITY/REGION NO. of RBsNO. OF QUALIFIED
SOs
Pilot Manila, NCR 8 14
2 La Union, Region I 8 12
3 Manila, NCR 12 24
4 Cebu, Region VII 10 18
5 Albay, Region V 11 34
6 Cagayan de Oro 13 25
7 Manila, NCR 13 33
8 Leyte, Region VIII 15 21
9 Manila, NCR 10 22
10 Ozamiz City 11 22
11 Davao, Region XI 9 14
12 Iloilo, Region VI 17 33
TOTAL 136 270
MI BASIC TRAINING
RBAP-RBRDFI will be the one to coordinate submission of rural banks’ licensing requirements to the Insurance Commission and then the BSP.
Source Document
Bank Letter to the BSP for a No Objection Notice for the bank to sell, market & service
Microinsurance
BSP No Objection Notice for the Bank to sell, market and service Microinsurance
CHECKLIST OF REQUIREMENTS
Session 4:Expeditious Procedures for Microinsurance Agent Licensing and Product Approval
By:
RUTH ASERONMicroinsurance Coordinator
RBAP-MABS
MI Agent Licensing Application Process
Some banks have already existing partnerships with commercial insurers. In such cases, they are informed of the option to stay with their partner on the condition that the company procures the appropriate provider
authorization and product approval from the Insurance Commission.