06pm-4724 PMBA Micro Insurance Programme: Phase 4
| budget |
€ 0,00 |
status |
finished |
| start date |
01-01-2006 |
date end |
31-12-2006 |
| location |
|
country |
philippines |
| financer |
Agriterra |
| executor |
Partnership Mutual Benefit Association |
intervention level |
|
| Programmes |
|
| description |
The Mutual Micro Insurance programma has been developed and consists of a life & accident insurance (with minor hospitality cover) covering the entire household of a member. The Interpolis/ Ad Arma developed software package is operational and a renewed Windows version was installed in 2004 enabling the PMBA to administer (...more...) |
| description |
The Mutual Micro Insurance programma has been developed and consists of a life & accident insurance (with minor hospitality cover) covering the entire household of a member. The Interpolis/ Ad Arma developed software package is operational and a renewed Windows version was installed in 2004 enabling the PMBA to administer the programme almost completely digitally and enabling the technical supervisor Mr. Gerard Pierik and Ad Arma to guide, assist and coach the PMBA on distance on a regular basis. The target set for the nearby future is to enrol minimum of 21.000 members by the end of the year 2007.
In 2006 a mission will take place by Mr. Pierik with the purpose: \"Assess the cost of maintaining the use of the OASE system vis a vis the volume of micro insurance capacity and capability of PMBA and assess possible alternatives for the use of OASE as administrative support system \" (...less...) |
| results & observations |
ACTIVITIES
1. A policy symposium on micro-insurance, conducted May 2006, coinciding with the visit of Mr. Pierik.
This activity is an effort to promote PMBA and reach as many organizations as possible for potential partnership in advancing micro-insurance. The output of the symposium was documented/published and copies of which were circulated (...more...) |
| final results & observations |
ACTIVITIES
1. A policy symposium on micro-insurance, conducted May 2006, coinciding with the visit of Mr. Pierik.
This activity is an effort to promote PMBA and reach as many organizations as possible for potential partnership in advancing micro-insurance. The output of the symposium was documented/published and copies of which were circulated among prospective partners.
2. Consultation meetings with the decision-makers of prospective partner organizations were undertaken. As of December 2006, the PMBA entered into formal partnership with seven (7) people’s organizations and non-government organizations. Two of these partner organizations stand out with its large membership/constituents i.e. PWACS and SIW.
3. An Updated Business Plan of the PMBA was formulated, with inputs from Mr. Pierik and exchanges with Agriterra Liaison Officer.
4. PMBA conducted a series of micro insurance/social protection program orientation for the women leaders of Support Service Institute for Women (SIW) in four of their areas of operation.
5. PMBA have also started consultations/presentations with leaders of several Trade Unions, foremost of which are the Federation of Free Workers (FFW) and the Philippine Transport and General Workers Organization (PTGWO).
RESULTS
The PMBA operates as a stand-alone micro-insurance company, and as such officially registered with the Securities and Exchange Commission (SEC) and duly licensed by the Insurance Commission (IC) as a mutual benefit organisation.
After initial slow but steady growth in the period 2002-2005 (4,500 policies), membership declined to about 3,200 in August 2006. After reviewing policies for non-payment of premiums and cancellation of policies due to non-payment, the actual membership was estimated at 500 by the end of December 2006. As of 30 December 2006, only 190 are members-in-good-standing. These disappointing results can be attributed to both external and internal factors. PMBA was hit by the problems within the membership of Pakisama that was originally constituting the natural membership base. While financial and administrative systems were up-to-date, the marketing efforts through the sales agents failed to translate into increased sales policies and hence, premium income to cover the costs of operations. The failure of the “Kadamay” system, coupled with internal problems of organizations (whose members/constituents were then the PMBA’s “captured” market), is the main reason for the decline of membership. This has eventually led to a rethinking in 2006 of both the marketing model, products, partnerships and the functional mode of operations.
The core strategy of “building strategic and operational partnerships for sustained growth” was fully started in the months September to December 2006. It was also in this period that a key leadership position (i.e. General Manager) in the organizations changed hand. The strategic re-direction, including the resignation of the previous GM is prompted by the continuing decline in membership and external problems that have saddled PMBA’s operation.
PMBA’s partnership with the Support Service Institute for Women (SIW) is the model that is currently worked out in operational terms. It is evolving right now as most favorable to PMBA. The marketing and membership recruitment are supported with SIW’s project activities. SIW have committed to bring 4,000 members into the PMBA in 2007, and assigned a full-time staff as their social protection / micro-insurance program officer. They are also contributing a substantial amount to the micro-insurance program-related activities of the PMBA. The task for PMBA is to find more partners similar to SIW.
(...less...) |
| specialisms |
| Banking and credit sector (incl. insurance) | Processing of agricultural products | Rural peoples organisations | |
PROPOSAL
| Agri-agency | Own contribution executor | Other parties | Total requested budget |
|---|
| Agriterra | PMBA | | |
| € 0,00 + € 0,00 | € 0,00 | € 0,00 | € 0,00 |
GOALS
| Self sustainability of the PMBA Insurance Program |
| Improving Financial independence of PAKISAMA |
| Diversifying service delivery to PAKISAMA members |
| Continuation of program with Rabobank |
