Boostin Haitiansearthquanumber vulnerab Haitian-funeral areserves The Intemarket lplan andHaitian- More In While Asector, iand life.unprececompan People aespeciadisaster AIC offeHaitiansaccess toffer a s Wider R Workingpossiblebusinesand CEOkeep cofuneral i Raising Haiti’s inmade cl2008 Pioprivate eworking norms ainsuranc

ng a Local In

s of all economake of 2010. of claims ste

ble Haitians.

owned Alternand credit lifes were deplet

er-American Bleader. OMJ d has played owned compa

nsurance for

IC is the top mt currently do The compan

edented numbny is profitable

at the base olly if that persr can be ruino

ers micro-insus, who make uto credit and

savings benef

Reach throug

g through mice while keepins is expectedO says: “We w

osts as low asinsurance hav

g Industry Sta

nsurance induear the need oneers for Prenterprise solto move the

and standardsce while stren

Deve

surer

mic levels are One traditio

emming from t

native Insurane insurance inted after the e

Bank’s Opporis lending AICa critical role any.

the Poor

micro-insurer oes the bulk ony is estimateber of claims e and growing

f the pyramidson is the houous.

urance for funup the vast mfew, if any, asfit as part of li

gh Platforms

ro-finance insng premiums d to grow at anwant to impro

s possible. “ Ave skyrockete

andards

ustry is one ofor stronger losperity awarlutions to povcountry’s ind

s. OMJ’s supngthening the

 For more i

eloping In

e interested innal insurancethat earthqua

nce Company the lower-inc

earthquake an

tunities for thC $2 million inin mobilizing

in Haiti serviof its businessed to have a tin 2010 spreag fast, with rec

are more vulusehold bread

eral and credmajority of the

ssets. The pfe insurance.

s

stitutions and affordable, An average of ove lives of thAs a result, aned.

f the least delegislation anrd, which aim

verty, AIC is wustry standar

pport of AIC’s country’s ins

nformation ab

nsurance

n buying insure company whke has a stra

AIC is makincome market nd despite str

e Majority Initn the form of investors fro

ng low-incoms through tradthird of the Haad word of AICcord premium

lnerable to thdwinner. Fun

dit life and is epopulation. policies would

other existingIC aims to do35 % for funeose less fortund thanks in p

veloped in thed supervisions to create gr

working to solvrd towards grerecapitalizatio

surance indus

bout the progr

e Solution

rance producthose reputatiotegic growth

ng insurance mand to create

rong growth th

tiative (OMJ) subordinatedm the US, Ca

me communitieitional insuraaitian insuranC’s good prac

ms and net inc

e effects of caneral costs ca

expanding its Products beid pay off micr

g platforms toouble its custoeral policies aunate and pigpart to the str

e world, and tn that would creater prospeve the questioeater transpaon is helping

stry.

 

ram contact OM

ns for All

ts, increasingon was enhanplan to expan

more accessie new micro-inhe company n

is a critical cad debt as part anada, Mexic

es that are larnce products ce market. Rctices and hecome in 2011

atastrophe, ilan bankrupt a

portfolio of mng developedroloans in cas

o make insuraomer base ovand 10 % for cggyback on stucturing of ce

the 2010 eartcatalyze the gerity in emergion of how to brency and brilow-income H

MJ‐IDB@iadb.

l Haitians

gly so in the anced after hond services a

ible with a plansurance proneeded to clo

atalyst in the t of an overallo and Haiti to

rgely exclude for auto, comResponsible h

elped increase.

lnesses and aa family. Losin

mass-market od are tailored se of catastro

ance accessibver five years.credit life. Olivructures that ertain premium

thquake with rowth of the iing markets bbring insurancng it more in

Haitians incre

.org  

s

aftermath of thnoring an unpnd products t

an to expand oducts. Yet Aose an equity

recapitalizatio $8 million re

o invest in the

ed from the fommercial, prophandling of ane its market s

a death in theng a house in

offerings for loto a populatio

ophe or hospit

ble to as man. Base of thevier Barrau, Aare already inms, AIC’s ren

its vast ensuiindustry. A wby harnessingce to the pooline with inter

ease their acc

he devastatingprecedented to the most

affordable AIC’s financia

gap.

on of this capitalization

e private,

rmal financiaperty, health n hare. The

e family—n a natural

ow-income on with little talization and

ny people as e Pyramid AIC’s founder n place to

newal rates fo

ing losses winner of the g the power ofr. It is also rnational

cess to

g

l

l

r

f