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The Microinsurance Innovation Facility

The Microinsurance Innovation Facility. A collaboration between the ILO and the Bill and Melinda Gates Foundation. Background. The creation of the CGAP Working Group on Microinsurance in 2002

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The Microinsurance Innovation Facility

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  1. The Microinsurance Innovation Facility A collaboration between the ILO and the Bill and Melinda Gates Foundation

  2. Background • The creation of the CGAP Working Group on Microinsurance in 2002 • “Good and Bad Practices” project funded by DFID, GTZ, ILO and SIDA produced 25 case studies covering 40 microinsurance schemes • Protecting the Poor: A Microinsurance Compendium published by the ILO and Munich Re Foundation • Proposal to the Bill and Melinda Gates Foundation to implement recommendations and stimulate innovations

  3. Key Themes • Support the development of valuable insurance products for low-income and rural households • Encourage the emergence of institutional models and partnerships that effectively deliver insurance to large volumes of low income households • Promote market education to help low-income consumers appreciate the utility of insurance and identify high value products

  4. Microinsurance Innovation Facility Innovation Grants Technical assistance Research Dissemination Four Pillars

  5. Microinsurance Innovation Facility in Action

  6. Innovation Grants • Grants: $50,000 to $2,000,000 (50 grants averaging $350,000) • Frequency: 5-10 issued every 6 months for first three years • Purpose: To test new products, models or approaches to consumer education (the 3 themes) • Organizations eligible include insurance companies, semi-formal microinsurers, labour unions, cooperatives, NGOs and other people’s organizations, and other distribution channels

  7. Technical Assistance • TA matching grants for microinsurers to buy technical assistance from certified TA providers (100 grants for short-term assignments over 5 years) • Monitoring for certification • Interns: 30 long-term (6 to 12 months) assignments in microinsurance providers • TA and management tools:a) inventory and needs assessment, b) develop 5 to 10 tools • Workshops for TA providers 1 or 2 per year

  8. Research • Collaborate with a university (or academic consortium) to review research proposals and support researchers • Issue 40 research grants of $10,000 each focusing on impact and 3 themes • Publish individual research papers • Publish an annual peer-reviewed journal of the best papers • Conduct a series of case studies and/or thematic analyses • Maintain a database of institutional performance information • Maintain a database of relevant donor activities

  9. Dissemination • Channel key lessons and publications through the Working Group’s annual conferences, newsletters and website • Organize additional workshops, virtual conferences, etc (1-2 per year) • Issue 2-4 topical briefing notes per year • Submit articles to other journals for publication • Engage with the media (e.g. press releases, interviews)

  10. Thank you! Craig Churchill Social Finance Programme, ILO +41 22 799 6242 churchill@ilo.org

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