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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

MicroinsuranceClient Value - Case studies

Microinsurance Seminar,

Karachi 28 Nov 2011

Eamon Kelly

contents
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
Background
  • Based on work completed by the Microinsurance Innovation Facility and my own experience
  • No perfect answer, most MI operators are still learning...
building on risk management preferences
Building on risk management preferences

appropriate

responsive

simple

accessible

affordable

slide13

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
opportunities and trade offs
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!
slide16

Thank You

Eamon Kelly

kellyejm@gmail.com