RBAP-MABS conducts microinsurance workshop for rural banks

The Rural Bankers Research and Development Foundation, Inc. (RBRDFI) and the RBAP-MABS program supported by USAID/Philippines organized a half-day microinsurance workshop for rural banks on May 27. The workshop was primarily aimed at further enhancing the knowledge and capability of rural banks as microinsurance agents and brokers.

Facilitated by RBAP-MABS Microinsurance Consultant Michael McCord, the event was participated in by nine representatives from eight rural banks trained by RBAP in Basic Microinsurance.  Also in attendance were members of the RBAP-MABS team and two members from the RBRDFI team for microinsurance.

Mr. McCord engaged the participants in a course of simulation games and interactive group activities built on topics such as the value of microinsurance, its fundamental principles and strategies for selling microinsurance by rural banks.  While this deepened the learning of basic concepts and principles for rural bank trainees, the RBRDFI microinsurance training team picked up new approaches to expand the design of the Microinsurance Basic Training modules for rural bank as Microinsurance Agents/Brokers.

Mr. McCord also held meetings with the Philippine Life Insurance Association (PLIA), the Insurance Commission and the Bangko Sentral ng Pilipinas (BSP) with the objective of identifying new opportunities and strategies to ensure the effective implementation of the RBAP-RBRDFI Microinsurance Initiative.