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ICMIF’s 5-5-5 Strategy has helped to insure 1.2m individuals in India and the Philippines

04 Jul 2017

A project run by the International Co-operative Mutual Insurance Federation (ICMIF) has so far helped to cover 1.2m individuals in India and the Philippines. ICMIF’s latest update report shows the progress made since the adoption of the 5-5-5 Mutual Microinsurance Strategy in January 2015. The strategy set out the aim to reach out to five million uninsured low-income households and provide protection to 25 million individuals over a five-year period.

The strategy is based on a framework consisting of a diagnostic research phase, an evidence-based strategy phase and a country intervention programme. To measure the effect of the strategy, ICMIF has created an impact assessment and developed a set of key performance indicators.

The report shows that as of April 2017, 258,885 households previously uninsured are now covered by a mutual because of the now active country interventions in India and the Philippines for the 5-5-5 project.

As part of the strategy, ICMIF member Uplift Mutuals opened its first pharmacy in Pune, stated issuing member cards more quickly and reduced the time required to process claims by almost 20%. With support from Achmea Foundation, another ICMIF member, Uplift developed its marketing strategy.

ICMIF is also collecting testimonies from members and publishing them online.

Other ICMIF members in the Philippines, Kenya, Sri Lanka and Colombia are also at different stages in the strategy’s implementation process.

Photo: Achmea Foundation provides technical assistance to Mutual Microinsurance Strategy