Sa dhan conference on 17 th march 2010 at new delhi
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Sa-dhan conference on 17 th March 2010 at New Delhi. Key concern for Social Security for Poor. MFI can do micro credit, micro insurance (life health and asset) and micro pension. All services under one roof Excluded poor can be included in main stream operations. Response: A. Government.

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Sa-dhan conference on 17 th March 2010 at New Delhi

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Sa dhan conference on 17 th march 2010 at new delhi

Sa-dhan conference on 17th March 2010 at New Delhi


Key concern for social security for poor

Key concern for Social Security for Poor

  • MFI can do micro credit, micro insurance (life health and asset) and micro pension. All services under one roof

  • Excluded poor can be included in main stream operations


Response a government

Response:A. Government

  • Has more resources and infrastructure, but lack of quality services to poor.

  • Trying to design one scheme for whole country especially for poor.

  • Public insurance companies are more profit oriented.

  • Un willing to design new products suitable to poor alone


Response b private

Response:B. Private

  • Business approach

  • For profit motive

  • Social obligation?

  • Moral hazards


Response c ngo mfi

Response:C. NGO/MFI

  • Pro poor (focus)

  • Not for profit in nature

  • Quality services

  • Collaboration and co ordination with formal sector


Advantage

Advantage

  • Easy to educate and enroll poor in social security

  • Designing good products with reasonable cost

  • Accessibility to members

  • Enable to educate poor on health education


Best practices

Best Practices

  • Need based product designed with UIIC company and running successfully since from the year 2000

  • Full premium are paid by poor

  • All transactions are thro banking channel (A/c Payee -Transparency)

  • Claim review committee consists of community leaders.


Contd

Contd…

  • Linking the poor with formal insurance company

  • Net work with quality health care hospitals

  • Doing cashless mode for treatment

  • Addressing preventive, protective promotional care to poor families.

  • Linked with micro credit for low cost operation


Collection and settlement

Collection and settlement

  • A. Premium / Contribution:

    Member  Surabhi  Shepherd  Insurance company / UTI MF.

  • B. Settlement:

    1. Insurance company  Shepherd  Surabhi bank account.

    2. UTI MF  Member’s Bank account.


Operational constraints

Operational constraints

  • Lack of awareness on micro insurance and micro pension among the poor

  • No support for operational cost

  • Delay in claim settlement

  • More or less working as a TPA (without cost)

  • No profit sharing or no claim bonus by insurance company

  • Public sector companies are not keen for rural policies


Way forward

Way forward

  • Govt. should give co payment for the insured or enrolled in micro pension

  • Designing suitable products for poor

  • Re cognizing community mutual model by IRDA.

  • NGO / MFI’s should come forward in micro health insurance and micro pension to poor


Join hands to provide safety net to poor families

Join Hands to Provide Safety Net to Poor Families

E-mail: [email protected]


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