financial literacy roadshow: a vehicle for stakeholder ... · pre-departure orientation seminar...
TRANSCRIPT
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Financial Literacy Roadshow: A vehicle for stakeholder-tailored
education in Inclusive Risk Protection
21/11/2013
Dr. Antonis Malagardis, Program Director GIZ - RFPI Asia program
(Regulatory Framework Promotion of Pro-poor Insurance Markets in Asia)
9th International Microinsurance Conference 12-14 November / Jakarta, Indonesia
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Outline
Financial Literacy on Microinsurance – The Philippine experience 21/11/2013
• Roadmap to Financial Literacy on Microinsurance (MI) - a public-private sector collaboration
• A 9-stakeholder approach • Implementing the roadmap • Financial Literacy roadshows • Key advocacy messages • Roles of advocates • Feedback from the advocates • Case examples – institutionalization of MI literacy
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From literacy to advocacy
Financial Literacy on Microinsurance – The Philippine experience 21/11/2013
• Financial Literacy is educating, not marketing
• Advocacy is convincing, not selling
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Roadmap to Financial Literacy on MI
Financial Literacy on Microinsurance – The Philippine experience 21/11/2013
Drafted jointly by the Department of Finance, Insurance Commission and the associations of insurance companies, MBAs, cooperative insurance societies and financial intermediaries, development organizations and other stakeholders.
Launched in Jan 2011 which aims to: help the low-income sector protect
their financial assets and manage their resources for risk and social protection.
build capacities of stakeholders become proactive in the provision and promotion of Microinsurance.
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The 9-stakeholder approach
Financial Literacy on Microinsurance – The Philippine experience 21/11/2013
The ADVOCACY: building the capacities of stakeholders to become proactive in the provision and promotion of Microinsurance
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Implementing the roadmap...
Financial Literacy on Microinsurance – The Philippine experience 21/11/2013
1. Developed the modules and tools.
2. Trained Speakers’ Bureau (master trainers) on Microinsurance from different stakeholders.
3. Conducted Financial literacy roadshows nationwide.
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Advocacy tools
Financial Literacy on Microinsurance – The Philippine experience
brochures
Flipchart
Videos, jingle
poster
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1. Training of MI Advocates (TOMA) from different stakeholders.
2. Public seminar on MI.
3. Microinsurance information exhibits from insurance providers and intermediaries.
4. Press conferences
Financial literacy roadshows (4 days program)
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MI advocacy messages to stakeholders
Financial Literacy on Microinsurance – The Philippine experience 21/11/2013
For Government Agencies
For Insurance providers
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MI advocacy messages to stakeholders
Financial Literacy on Microinsurance – The Philippine experience 21/11/2013
For Donors/Devt. Agencies
For Clients
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Roles of Microinsurance advocates
Financial Literacy on Microinsurance – The Philippine experience 21/11/2013
1. Organize trainings, seminars, meetings and other venues to communicate the importance of Microinsurance and key messages to superiors, colleagues, friends and partners.
2. Initiate “call to actions” in respective organizations by institutionalizing Microinsurance activities in projects and programs (examples: literacy campaign, product development, issuance of circulars, set up “help/information desks”, research)
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TOMA graduates’ use of learning
Shared info with family and friends Shared info with work colleagues and networks
Conducted microinsurance training Created MI communication materials
Asked for activity advice from other MI stakeholders Have not used TOMA learning
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Institutionalization of MI literacy – National Government Agency
Financial Literacy on Microinsurance – The Philippine experience 21/11/2013
Overseas Workers Welfare Administration (OWWA)/ Commission on Filipinos Overseas (CFO)
Integration of Microinsurance topic in the Pre-departure Orientation Seminar (PDOs) of departing
overseas Filipino Workers
Microinsurance is included as one of the modules in the seminar that is mandatory to be completed by all departing Overseas Filipino Workers (OFWs).
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Institutionalization of MI literacy – Local Government Unit
Financial Literacy on Microinsurance – The Philippine experience 21/11/2013
Quezon City Local Government Unit (LGU) Provision of Microinsurance to temporary labour
The LGU passed a city ordinance providing additional insurance coverage to temporary employees such as the street sweepers, village peace-keepers and health workers.
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Institutionalization of MI literacy –Support Institution
Financial Literacy on Microinsurance – The Philippine experience 21/11/2013
Insurance Institute for Asia and the Pacific (IIAP) Microinsurance seminar as a regular course offering
IIAP is conducting a regular 2-day seminar on Microinsurance. Participants are staff of commercial insurance companies, agents and insurance stakeholders from other countries.
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Institutionalization of MI literacy –Insurance Intermediary
Financial Literacy on Microinsurance – The Philippine experience 21/11/2013
Cebuana Lhuillier Insurance Solutions (CLIS) Microinsurance on Wheels (MoWs) CLIS is using MoWs to promote Microinsurance in hard-to-reach villages. Each MoW is equipped with audio-visual and Microinsurance videos. CLIS also promotes Microinsurance in TVs and radios.
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Lessons learned
21/11/2013
• A unified perspective towards insuring the low-income sector is required to shorten the gap between the public and private sectors.
• A stakeholder-tailored approach supports financial inclusion in design and content delivery, educating each distinct stakeholder group on their roles and opportunities in promoting microinsurance.
• A Fin Lit roadshow is an evolving strategy, whereby each roadshow is an opportunity to discover lessons for quality management of all involved.
• Such an initiative can be replicated by any country in line with its policy and regulatory environment and current or planned activities on microinsurance education.
Financial Literacy on Microinsurance – The Philippine experience
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Thank you
Financial Literacy on Microinsurance – The Philippine experience
Contact us: www.inclusiveinsuranceasia.com