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Microinsurance Client Value - Case studies

Microinsurance Client Value - Case studies. Microinsurance Seminar, Karachi 28 Nov 2011 Eamon Kelly. Contents. Microinsurance is...? Client Value is ...? What is client value and ways to assess it Value creation examples Conclusion What about the Business Case ...?. Background.

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Microinsurance Client Value - Case studies

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  1. MicroinsuranceClient Value - Case studies Microinsurance Seminar, Karachi 28 Nov 2011 Eamon Kelly

  2. Contents Microinsurance is...? Client Value is ...? • What is client value and ways to assess it • Value creation examples • Conclusion What about the Business Case ...?

  3. Background • Based on work completed by the Microinsurance Innovation Facility and my own experience • No perfect answer, most MI operators are still learning...

  4. Microinsurance vsConv Insurance

  5. 1Assessing client value

  6. What is “Client Value”?

  7. Building on risk management preferences appropriate responsive simple accessible affordable

  8. Client value assessment tool - PACE

  9. Unpacking one dimension - Product

  10. Spectrum of Client Value tools • MILK Client Math

  11. 2Value creation examples

  12. PACE pilot testing

  13. Uplift in India: case study • Expanding member benefits • Hospitalization product changes • Network of over 300 care providers providing care at negotiated rates • Access to health initiatives • To be sustainable with volumes and technology • Claims administration • Education & empowerment versus timely payments • Product and performance improved over time • Claim Rejection ratio has decreased over time to 2% • Claims ratio increased to 70% • Renewal ratio has increased over time to 70% • Out of Pocket expenses have reduced over time • Reduction in claim cost about 3 million rupees in 2010

  14. Philippines: case study

  15. Opportunities and trade-offs • Many value creation opportunities, small improvements that can make a difference • Balancing trade offs in a continuous improvement process • Cost vs Product, Access and Experience • Contextualizing client value • Product and/or market maturity matters!

  16. Thank You Eamon Kelly kellyejm@gmail.com

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