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The$Advocates$$$$The$Inclusive$Insurance$Advocates$

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Inclusive$Insights$

Microinsurance,!Piecing!Together!Peace!and!Dignity!in!Mindanao!

MI$in$Environment$

Indonesia’s!Microtakaful!Story!

MI$&$Technology$

GIZ!Philippines!leads!Simulation!of!World’s!First!Remote!SensingBpowered!Index!Insurance!for!Rice!!

Satellite!Data!Imaging!Expedites!MI!Claims!of!Typhoon!Haiyan!Victims!!

At$A$Glance$

GIZ,!IIAP!Ink!Training!Partnership!on!Microinsurance!

My!GIZ!Experience!

My GIZ Experience

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Issue!No.!1!!September!2014!

GIZ,$IIAP$Ink$Training$Partnership$on$Microinsurance$

German!Development!Cooperation!(GIZ)!and!Insurance!Institute!for!Asia!and!the!Pacific!(IIAP),!sole!insurance!training!institution!in!the!Philippines,!formally!sealed!last!month!the!microinsurance!training!partnership!agreement.!!!

The!partnership!combines!four!decades!of!expertise!in!capacity!development.!Predominantly,!the!agreement!will!mainstream!inclusive!insurance!(II)!or!microinsurance!(MI)!through!capacity!building!programs!to!enhance!the!capacities!of!insurance!regulators,!companies!and!support!institutions.!

Through!the!partnership,!GIZ!responds!to!long!drawn!out!demands!of!ASEAN!countries!for!local!training!platforms!on!microinsurance.!Currently,!there!is!no!training!institution!that!offers!microinsurance!training!programs!in!the!region.!

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In!addition,!the!pioneering!partnership!will!support!the!development!of!international!and!national!experts!on!microinsurance!or!inclusive!insurance!who!will!serve!as!a!“training!pool”!that!can!conduct!specific!inclusive!insurance!/microinsurance!courses!throughout!Asia.!!!

Dr.!Antonis!Malagardis,!program!director!of!Regulatory!Framework!Promotion!of!ProBPoor!Insurance!Markets!in!Asia!(RFPI!Asia),!the!GIZ!flagship!program!on!inclusive!insurance!in!Asia!and!the!Pacific,!and!Mr.!Januario!Aliwalas,!executive!director!of!IIAP!led!the!ceremonial!signing!in!Makati.!!

Dr.!Malagardis!recognized!that!the!partnership!with!IIAP!comes!at!a!most!opportune!time!when!both!organizations!are!ready!to!connect!and!work!together!on!something!concrete!such!as!capacity!building.!We!welcome!this!partnership!to!carry!out!the!advocacy!together.!GIZ!and!IIAP!share!this!multiplier!role!to!reach!out!to!our!partner!countries~,!Dr.!Malagardis!!

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Meanwhile,!Mr.!Aliwalas!noted!that!the!partnership!established!the!role!of!IIAP!as!microinsurance!training!vehicle!of!GIZ.!IIAP!wants!to!offer!relevant!courses!such!as!microinsurance!to!the!Asian!countries!such!as!Nepal!and!Mongolia!where!RFPI!Asia!operates,!same!countries!that!IIAP!is!looking!at!as!target!markets.!!

Our!experience!and!knowledge!gained!so!far!we!can!share!with!countries!that!would!need!training!and!education!in!microinsurance.!This!is!what!we!wanted!to!do!and!with!GIZ,!we!can!do!more!and!reach!more!countries~,!Mr.!Aliwalas!concluded.!

My$GIZ$Experience$

Mitra&Sougata,&12th&Grade,&International&School&Manila&

The!Bearcat!Career!Experience!(BCE)!week!indeed!is!an!eye!opening!experience!for!me.!

My!name!is!Sougata!Mitra,!Grade!12,!and!I’m!not!the!sort!of!person!who!maps!out!his!entire!future.!As!such,!joining!the!BCE,!a!one!week,!summer!internship!program!that!the!International!School!Manila!offers!to!students,!turned!out!to!be!quite!puzzling.!Students!who!wish!to!participate!are!given!a!plethora!of!companies!from!various!fields!to!choose!from.!!We’ve!been!advised!to!choose!one!particular!area!where!we!excel!the!most.!For!me,!it!was!Economics.!!Economics,!for!me!is!both!theoretical!and!practical,!two!elements!that!I!thought!must!be!life!beyond!the!confines!of!the!school.!Economics!and!my!involvement!with!Model!United!Nations!in!our!school!made!me!realized!there!are!world’s!pressing!issues!on!poverty!and!diversity.!!

Therefore,!putting!into!consideration!my!interests!and!issues!I!hope!to!understand!and!maybe!later!on,!help!change!the!world,!I!decided!my!internship!would!be!meaningful!in!a!development!organization.!!

GIZ!was!second!in!my!list!of!organization!which!the!school!had!given!me.!I!did!not!know!much!about!it,!but!decided!to!give!it!a!try.!I!visited!their!website!and!did!some!research!and!was!immediately!interested!at!the!work!they!do!all!over!the!world.!This!organization!funded!by!the!German!Government!has!very!admirable!projects,!and!it!felt!right!to!learn!from!them.!

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On!the!week!of!June!9th,!I!went!to!the!GIZ!office!in!Makati,!Philippines.!!I!was!given!an!orientation!about!GIZ,!their!corporate!principles!and!their!programs.!I!was!assigned!to!microinsurance!program—!the!Regulatory!Framework!Promotion!of!ProBPoor!Insurance!Markets!in!Asia.!This!was!an!intriguing!internship!opportunity.!I!was!glad!I!took!it.!!

This!program!turned!out!as!noble!because!it!enabled!lower!income!individuals!to!be!insured!in!the!case!of!a!catastrophic!event,!something!the!Philippine!should!not!overlook.!My!days!were!essentially!spent!at!the!Insurance!Commission!along!the!UN!Avenue.!!Each!of!the!RFPI!Asia!staff!spent!some!time!with!me,!explaining!what!they!do!and!the!accomplishments!of!the!program!as!a!whole.!They!explained!to!me!the!different!ways!the!program!is!made!efficient!and!sustainable.!

In!addition,!Atty.!Liza!Tubilleja!of!Insurance!Commission!gave!her!time!to!orient!me!about!what!they!do!at!the!Insurance!Commission!and!introduced!me!to!Deputy!Commissioner!Dorothy!Calimag!and!to!Atty.!Kristine!Mari!ReyesBNolasco!from!the!office!of!Commissioner!Emmanuel!Dooc.!All!in!all,!they!were!very!accommodating!and!inspiring.!They!welcomed!me!and!made!my!experience!with!them!pleasant!and!amiable.!

On!the!very!last!day!of!my!short!four!day!internship,!I!was!given!the!opportunity!to!present!microinsurance!to!4th!year!students!of!Andres!Bonifacio!Integrated!School!(ABIS).!These!are!students!two!years!younger!than!me!but!they!were!able!to!understand!and!appreciate!the!importance!of!microinsurance.!Some!of!them!have!lost!their!houses!or!belongings!due!to!calamities,!flooding,!fire!and!other!perils.!After!my!presentation,!I!was!surprised!at!the!questions!those!students!thrown!at!me.!So!glad!that!I!was!able!to!impart!to!them!that!microinsurance!will!help!them!and!their!families!get!back!to!their!own!normal!lives!again!after!disasters!!

After!my!week!was!done,!I!honestly!can!say!it!had!opened!my!eyes,!and!I!have!no!one!else!to!thank!for!that!but!GIZ,!the!RFPI!Asia!team,!the!workers!in!the!insurance!commission!and!Ms.!Kay!Maatubang,!who!helped!me!get!through!my!week!easily.!

The!week!was!very!insightful!and!made!me!realized!so!many!things!about!the!world!we!live!in.!I!also!realized!that!in!the!scope!of!things!there!are!organizations!like!GIZ!working!nobly!to!change!lives.!

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Microinsurance,$Piecing$Together$Peace$and$Dignity$in$Mindanao!

Microinsurance!for!Mindanaoans!is!about!peace!and!dignity!in!times!of!conflicts!and!disasters.!!!

Mindanao!is!the!southernmost!major!island!of!the!Philippines,!larger!than!Sri!Lanka,!with!over!21!million!populations!and!with!significant!presence!of!Muslims,!about!2.6!million,!in!Autonomous!Region!of!Muslim!Mindanao!(ARMM).!Poorest!provinces!in!Mindanao!are!found!in!ARMM.!Poverty!is!widespread!due!to!decades!of!neglect,!corruption!and!violence.!

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The!four!decades!of!conflict!that!claimed!tens!of!thousands!of!lives!and!displaced!two!million!families!also!deprived!the!island!the!steady!growth!it!deserved.!Mindanao!is!the!agricultural!basin!of!the!Philippines!where!eight!out!of!ten!agricultural!commodities!exported!from!the!country!to!the!world!is!found!here.!!!!

Poverty!alleviation!in!the!poorest!provinces!in!ARMM!is!not!possible!without!opportunities!such!as!Islamic!banking!and!finance!and!microinsurance.!There!is!also!significant!untapped!market!opportunity!for!banks!with!just!20!banks!and!28!ATMs!present.!Currently,!only!8%!of!the!municipalities!of!the!ARMM!have!a!banking!presence.!!

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The!Philippine!Government!recognized!that!lasting!peace!is!tantamount!to!lasting!growth.!

The!Government!of!the!Philippines!(GPH)!and!the!Moro!Islamic!Liberation!Front!(MILF)!achieved!crucial!milestone!with!the!Draft!of!Bangsamoro!Basic!Law!officially!transmitted!to!Congress!for!legislation!two!weeks!ago.!Expectations!surrounding!the!BBL!also!renewed!opportunities!for!investors,!particularly,!from!the!Middle!East.!To!date,!Islamic!Finance!is!growing!by!20%!or!1.63!billion!dollars!annually.!

Microinsurance!is!one!of!the!promising!sectors~!waiting!in!line!once!the!Bangsamoro!Basic!Law!(BBL)!has!been!passed!in!the!Philippine!Congress!before!the!year!ends.!

Microinsurance!for!Mindanaoans!hopefully!will!restore!their!dignity.!As!the!agricultural!basin!of!the!country!often!hit!by!flooding,!landslides,!earthquakes!and!tsunamis,!microinsurance!helps!cover!for!agricultural!losses.!

It!is!interesting!to!note!that!a!relief!package!for!one!day!composed!of!canned!goods,!rice!and!noodles!is!almost!equivalent!to!a!premium!for!microinsurance!policy.!Clearly,!microinsurance!will!help!Mindanaoans!cope!with!conflicts!and!recover!from!disasters,!with!dignity.!

In!conjunction!with!BBL,!the!Bangko!Sentral!ng!Pilipinas!(BSP)!push!for!several!ambitious!initiatives!to!develop!the!Islamic!Finance!for!Mindanao!and!financial!inclusion!of!the!Muslim!minority!will!contribute!to!a!more!stable,!lasting!peace!in!the!region.!

According!to!Atty.!Arifa!Ala,!BSP!director,!“developing!Islamic!Banking!and!Finance!(IBF)!in!the!Philippines!can!promote!inclusive!finance!and!insurance”.!

Atty.!Ala!stressed!in!her!presentation!during!the!Microinsurance!Learning!Session!Asia!and!Oceania!(MLSAO),!that!BSP!is!now!addressing!the!lack!of!clear!and!regulatory!framework!for!IBF!done!in!coordination!with!other!appropriate!government!agencies!(SEC,!PDIC,!DoF,!and!Insurance!Commission).!

MLSAO!is!the!GIZ!event!in!partnership!with!Munich!Re!Foundation!and!Microinsurance!Network.!Over!100!microfinance!and!microinsurance!providers,!industry!thinkBtank!representatives,!international!financial!inclusion!experts!and!advocates!met!in!Manila!last!July.!The!rounds!of!dialogue!among!participants!focused!on!the!findings!based!on!the!Landscape!of!Microinsurance!in!Asia!and!Oceania!2013.!!

In!addition,!BSP!is!working!to!address!lack!of!facilities!that!cater!to!the!unique!characteristics!of!Islamic!Banks.!It!proposed!amendments!to!Congress!on!the!New!Central!Bank!Act!to!enable!BSP!to!provide!financial!facilities!to!Islamic!Banks!taking!into!consideration!the!peculiar!characteristics!of!Islamic!Banking.!

Atty.!Arifa!further!explained!that!that!BSP!conducted!capacity!building,!awareness!raising!activities!on!IBF!and!supported!initiatives!to!enable!AlBAmanah!Bank!to!operate!as!fullBfledged!Islamic!Bank.!

BSP!has!institutionalized!microfinance!and!has!taken!significant!steps!to!enable!an!environment!for!sustainable!microfinance!and!consequently,!microinsurance.!!

Currently,!there!are!initiatives!that!adhere!to!comply!with!Shariah!as!the!basis!for!business!practices,!behaviors,!religious!worships!and!rituals.!For!Muslims,!Islam!is!the!way!of!life!and!where!temporal!and!religious!matters!are!never!disconnected.!

The!Bangsamoro!Women!MultiBPurpose!Cooperative!for!example,!follows!the!Islamic!principles!of!}Musaraba~!or!profitBloss!sharing!without!interest.!!The!cooperative!produces!halal!beauty!products!and!detergents!and!are!sold!in!Palawan!and!Cotabato.$

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GIZ$Philippines$leads$Simulation$of$World’s$First$Remote$SensingHpowered$Index$Insurance$for$Rice GIZ!Philippines!leads!in!the!simulation!of!the!world’s!first!remote!sensing!!B!powered!Area!Based!Yield!index!insurance!(RS!ARBY)!for!the!rice!crop!through!the!Remote!SensingBbased!Information!and!Insurance!for!Crops!in!Emerging!Economies!(RIICE)!Project.!The!computer!simulation!of!RS!ARBY!aims!to!assess!the!feasibility!of!using!remote!sensing!for!crop!insurance.!!

The!RS!ARBY!product!simulation!is!undertaken!for!the!wet!cropping!season!in!June!–!November!2014.!IRRI!shall!monitor!the!rice!crop!and!provide!municipal!level!forecasted!rice!yield!on!the!60th!and!90th!day;!and!the!actual!yield!on!the!120th!day!of!the!cropping!period.!The!results!will!be!inputted!into!the!RIICE!Web!GIS!and!compared!against!the!insured!yield!of!10!pilot!municipalities!in!Nueva!Ecija!and!Leyte!provinces.!!

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The!availability!of!forecasted!yield!twice!in!a!cropping!season!will!offer!insurers!the!option!to!speedBup!and!provide!early!payBouts!when!the!current!municipal!yield!is!lesser!than!its!average!20!year!insured!yield.!Under!the!Microinsurance!Policy!Framework,!payBout!will!be!provided!within!10!working!days!after!the!receipt!of!area!yield!results.!!

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The!RS!ARBY!simulation!is!a!computerBbased!exercise!and!does!not!require!financial!commitment!for!the!insurer!and!the!insureds.!The!risk!carrier!of!the!simulation!exercise!is!CARDBPioneer!Insurance.!!

GIZ!facilitates!the!cooperation!among!Allianz!Re,!GIZ,!IRRI,!PhilRice,!the!Department!of!Agriculture,!the!Insurance!Commission,!Philippine!Insurers!and!Reinsurers!Association!and!distribution!channels!during!the!RIICE!RS!ARBY!simulation.!!

Satellite$Data$Imaging$Expedites$MI$Claims$of$Typhoon$Haiyan$Victims!

One!cruel!day!on!8th!of!November!2013,!Typhoon!Yolanda!made!a!historic!hit!in!the!middle!of!Philippine!archipelago.!!

Typhoon!Haiyan,!its!international!name,!is!the!strongest!recorded!storm!at!landfall,!with!strongest!wind!speed,!with!the!highest!sea!level!rise!at!16!feet!anywhere!in!the!world,!has!killed!at!least!6,000!people,!displaced!600,000!more!and!with!impact!significantly!more!than!it!would!100!years!ago.!

Eleven!months!after!the!stoically!resilient!Filipino!people!struggle!to!regain!their!lives.!The!economic!impact!may!reach!$14!billion.!As!disasters!are!becoming!more!violent!and!profoundly!imposing!on!everyone’s!lives.!

MI & Technology

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Now,!more!than!ever,!recovery!is!crucial.!Microinsurance!puts!together!hope!and!technology!through!satellite!imaging.!

Mr.!William!Martirez,!head!of!Microensure!Philippines,!engaged!the!audience!in!one!of!the!most!awaited!sessions!during!!the!Microinsurance!Learning!Session!Asia!and!Oceania!with!their!unique!experience!of!using!satellite!images!and!crisis!maps!in!the!assessment!of!claims!due!to!catastrophic!events!such!as!Haiyan.!

GIZ,!Munich!Re!Foundation!and!!Microinsurance!Network!!gathered!over!100!microfinance!and!microinsurance!providers,!think!tanks!representatives,!international!experts!and!advocates!in!Manila!to!engage!in!rounds!of!dialogues!at!the!Microinsurance!Learning!Session!Asia!and!Oceania:!Implications!of!the!Landscape!Study.!

Crisis!mapping!is!the!realBtime!gathering,!display!and!analysis!of!data!during!a!crisis,!usually!a!natural!disaster!or!socioBpolitical!conflict.!A!satellite!image!cost!an!average!of!$35!per!square!kilometer.!

The!satellite!and!aerial!imagery!gave!Microensure!a!quick!and!efficient!means!to!assess!and!identify!areas!of!most!need,!about!100,000!families!are!covered!in!14!provinces,!mostly!in!remote!areas!in!Visayas!situated!along!the!typhoon!path.!The!beforeBandBafter!images!of!affected!areas!are!valuable!basis!to!evaluate!the!impact!of!the!disaster!and!determine!which!areas!they!must!prioritize.!

In!collaboration!with!Insurance!Commission,!Microensure!utilized!satellite!imaging!to!expedite!claims!settlements!of!35,000!clients!in!the!affected!areas!amounting!to!PhP!280!million.!While!the!total!calamity!claims!paid!by!Microensure!reached!about!45,000!clients,!equivalent!to!190!million!pesos.!

Microensure!is!the!only!insurance!in!the!Philippines!to!cover!8!perils!of!calamity!assistance!(typhoons,!earthquakes,!volcanic!eruptions,!landslides,!tsunamis,!lightning/!tornados!and!flood)!since!2009.!It!offers!calamity!insurance!for!retailers!as!a!part!of!its!“Triple!10”!package.!The!product!costs!205!pesos!(about!US$6)!a!year!and!provides!life!insurance,!burial!assistance,!medical!reimbursement,!and!fire!and!calamity!assurance!of!10,000!pesos!each.!!Making!a!history!on!its!own,!the!Insurance!Commission!approved!the!use!of!noneBtraditional!assessment!approach!such!as!satellite!imaging!and!simultaneously!launched!the!the!“Agarang!Proseso,!Benepisyo!ay!Sigurado”!program!to!provide!faster!insurance!relief!to!those!affected.!The!memorandum!issued!includes:!

1.! Setting!up!of!Claims!Action!Center!in!Tacloban.!

2.! Expeditious!processing!of!all!insurance!claims!upon!submission!of!minimum!documentary!requirements.!

3.! Generation!of!master!list!of!all!policy!holders!and!plan!holders.!

4.! Manner!of!payment!of!insurance!claims!Life!insurance!claims:!Php!10,000!or!50%!of!the!value!of!the!policy!or!plan,!whichever!is!lower.!PreBneed!claims:!Php!10,000!or!50%!of!the!value!of!the!policy!or!plan,!whichever!is!lower.!!

Indonesia’s$Microtakaful$Story$

Perils,!wide!margin!of!low!incomeBpopulation,!Islam!and!sound!regulatory!environment!are!viable!recipe!for!microtakaful!market!to!thrive.!

Moch!Muchlasin,!Director!of!Sharia!NonBBank!Financial!Institution,!Otoritas!Jasa!Keuangan!(IFSABOJK)!recently!presented!the!Indonesia!experience!on!microtakaful!during!the!Microinsurance!Learning!Session:!Asia!and!Oceania!held!in!Manila.!!

Indonesia,!an!archipelagic!country!comprised!of!13,466!islands!is!populated!by!over!238!million!people.!According!to!Muchlasin,!about!28.07!million!Indonesians!today!are!living!in!poverty.!It!is!the!world’s!4th!most!populous!country!with!205!million!Muslim!populations.!Categorically,!Indonesia!is!home!to!13%!of!the!Muslims!in!the!whole!world.!!

Interestingly,!Indonesia!is!also!the!fourth!highest!among!the!countries!in!Asia!Pacific!that!have!been!hit!by!natural!disasters!from!1980!to!2009.!According!to!the!2010!Asia!Pacific!Disaster!Report,!over!18!million!people!were!affected!by!natural!disasters.!Most!painfully!memorable!was!the!Sumatra!and!Aceh!tsunami!in!2004!where!around!170,000!people!died.!

Despite!wide!margins!of!poverty!and!high!risks,!statistics!from!World!Bank!Survey!of!2009!remains!that!32%!of!Indonesians!do!not!have!adequate!savings!or!insurance!to!protect!them!against!risks.!!

The!absence!of!protection!against!financial!loss!during!perils!affects!the!lowBincome!household!the!most.!After!disasters!or!perils!strike,!the!poor!population!is!subjected!to!poorer!conditions.!

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Muchlasin!explained!that!significant!portion!of!Muslim!population!would!benefit!from!the!development!of!a!microtakaful!market,!an!initiative!of!the!Indonesian!government!through!the!efforts!of!OJK!and!the!insurance!industry,!to!broaden!the!access!of!disadvantaged!populations!to!financial!risk!protection.!

Indonesia’s!microtakaful!is!a!mechanism!to!provide!a!ShariaBbased!insurance!that!is!affordable!to!the!low!income!and!informal!sectors.!

The!takaful!industry!in!Indonesia!was!established!in!1994,!currently!with!about!48!takaful!operators!in!the!span!of!20!years.!However,!the!small!takaful!market!share!and!relatively!higher!growth!compared!to!a!50Byear!conventional!insurance!industry!indicates!promising!potential!of!takaful!growth.!

Meanwhile,!the!development!of!Grand!Design!of!Microinsurance!in!Indonesia,!in!collaboration!with!GIZ!was!a!milestone!which!laid!the!foundation!for!regulatory!framework!and!national!strategy!on!microinsurance!and!microtakaful.!!

To!date,!there!are!seven!takaful!operators!offering!microtakaful!products!that!cover!personal!accident,!property,!credit!life!and!term!life.!Based!on!the!growing!demand!for!microtakaful,!OJK!and!Asosiasi!Asuransi!Syariah!Indonesia!(AASI)!will!soon!launch!a!microtakaful!product!that!can!be!sold!by!all!takaful!operators.!

Indonesia’s!microtakaful!is!simple,!easy!to!get,!affordable,!and!immediate!claims!payout.!!

The!Takaful!policy!is!written!in!Bahasa!Indonesia,!as!such!easy!for!ordinary!Indonesian!to!understand,!with!minimal!claim!documents:!i.e.!policy!contract,!ID!card!and!proof!of!death.!Claim!is!required!to!be!paid!within!10!days.!

OJK!is!actively!engaging!sectors!to!raise!awareness!on!microtakaful.!It!intends!to!interconnect!with!other!initiatives!on!financial!inclusions!to!broaden!access!such!as!digital!payment,!branchless!banking!among!others.!!

Moreover,!potential!of!takaful!growth!is!likewise!encouraged!with!the!legislative!changes!made!by!Indonesia’s!House!of!Representatives!in!the!outdated!1992!Insurance!Law.!

Taking!effect!next!month,!the!new!law!emphasized!a!protection!mechanism!for!policyholders!with!ShariahBbased!insurance!services!enforced!with!administrative!and!criminal!penalties.!!

It!is!expected!that!OJK!will!fully!synchronize!all!related!regulations!of!the!insurance!sector!under!the!new!law.$

The!German!Development!Cooperation!(GIZ),!thru!its!flagship!program!on!microinsurance,!the!Regulatory!Framework!Promotion!of!ProBpoor!Insurance!Markets!in!Asia!(RFPI!Asia),!seeks!to!improve!regulatory!and!supervisory!preconditions!for!effective!insurance!protection!of!lowBincome!populations!in!Asia.!!Funded!by!the!German!Federal!Ministry!for!Economic!Cooperation!and!Development!(BMZ),!the!program!will!be!implemented!for!three!years!(2013!–!2015).!

Based!in!Manila,!Philippines,!the!program!supports!Asian!countries!to!enhance!their!insurance!regulation/supervision,!thereby!improving!access!of!the!poor!to!insurance!products.!It!advocates!for!the!development!of!innovative!insurance!solutions,!especially!in!the!areas!of!Micro,!Small!and!Medium!Enterprises!(MSMEs),!disaster!risk!management!and!agriculture.!A!wideBrange!of!stakeholders!has!been!involved!to!promote!a!change!in!business!practices!of!the!industry.!It!is!expected!that!the!project!will!aid!in!the!development!of!products!and!access!channels!that!are!suitable!to!the!needs!of!the!lowBincome!groups!in!Asia.!

For!more!information!about!us,!please!visit!:!www.inclusiveinsuranceasia.com!

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All!the!photos!are!properties!of!GIZ!–!RFPI!Asia!!

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