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MABS HighlightsMicroinsurance

More Rural Banks Complete Microinsurance Training Course

Eighteen rural banks based in Luzon and Mindanao recently completed the Rural Bankers Association of the Philippines (RBAP) Basic Microinsurance Training during two separate sessions. Twenty-nine (29) bank officers and staff from ten (10) rural bank-members of the Cagayan-Kalinga Federation attended the training held in Cooperative Bank, Tuguegarao City, on November 24-25 while eleven (11) bank officers and staff from eight (8) rural banks participated in the course held on December 7-8 in Manila. Altogether, one hundred and sixty (160) rural banks have been trained under the RBAP Basic Microinsurance Training course since January 2011.

The two-day training covers the fundamental concepts and principles of microinsurance through lecture, group exercises and simulation activities. More importantly, participants are guided on the procedures and requirements of the Insurance Company and the Bangko Sentral ng Pilipinas for Microinsurance Agent licensing.

The course is part of the activities of the Rural Bankers Association of …

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Rural Banks Prepare for Pricing Transparency

In preparation for the Bangko Sentral ng Pilipinas (BSP) regulation on effective interest rate calculations, Ms. Leila Deles of Microfinance Transparency (MFT) showed how this regulation impacts on how interest rates are disclosed to clients and the profitability of microloans.

Ms. Deles set the context of the session by emphasizing that pricing transparency refers to the terms and the condition where financial products are disclosed to clients in a manner that allows both accurate understanding of prices and comparison of different products. She also provided information on the promotion of transparency, data collection, standardization of pricing calculations, and development of educational materials to support this initiative. More importantly, MFT consulted with regulators and policy makers to establish the basis for pricing in the microfinance sector.

She also gave updates on MFT’s transparent pricing initiative in the country by showing the different perspectives about transparency from regulators, investors, and clients. In …

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RBAP-MABS Outlines Financial Education for Branchless Banking During the 8th Citi-Financial Times Financial Education Summit

The 8th Citi-Financial Times (FT) Financial Education Summit, the most established annual international forum on financial literacy, was held on November 28-29, 2011 in Jakarta, Indonesia. With the theme “Empowering the Disadvantaged: Inclusive and Innovative Approaches to Financial Capability”, the Summit focused on how to increase the uptake of financial education initiatives at grassroots levels – microentrepreneurs, migrant workers, and low-income youth – and also explored the use of technology and media in scaling programs and reducing the cost of delivery.  The roles of national frameworks and multi-stakeholder partnerships in addressing large-scale financial capability and consumer protection needs were also addressed.

In one of the panel discussions, the United States Agency for International Development-supported Rural Bankers Association of the Philippines-Microenterprise Access to Banking Services Program presented its Financial Education for Branchless Banking Project, an initiative implemented in partnership with MasterCard Foundation and Microfinance Opportunities. The presentation highlighted how …

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Latest UpdatesMABS HighlightsMicroinsurance

Northwestern Mindanao Rural Bankers Complete the Microinsurance Basic Training Course

The Northwestern Mindanao Federation rural bank members participated in the Microinsurance (MI) Basic Training Course held at the Bethany Gardens Resort in Ozamis City, Misamis Occidental last August 11 and 12. Twenty-two (22) officers and staff from eleven (11) rural banks attended the course which covers the fundamentals of microinsurance, including marketing and servicing of clients.

The two-day MI Basic Training Course is part of the Insurance Commissions requirements for Microinsurance Agent Licensing. In addition, participating banks must also pass the qualifying exam administered at the end of the course and amend the bank’s article of incorporation to include microinsurance as its new service.

The Rural Bankers Association of the Philippines-Microenterprise Access to Banking Services (RBAP-MABS) Program has been assisting the Rural Bankers Research and Development Foundation Inc. (RBRDFI) in offering a turn-key solution for rural banks to become licensed microinsurance agents. To facilitate rural bank microinsurance agent licensing applications, …

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Latest UpdatesMABS HighlightsMicroinsurance

Luzon Rural Bankers Complete Microinsurance Basic Training Course

Ten rural banks from Luzon attended the Microinsurance Basic Training Course held at the Orchid Garden Hotel in Manila on August 2-3, 2011.  Nineteen (19) of the course participants also successfully completed the qualifying examinations administered at the end of the course, which is the first step to becoming a qualified Microinsurance Soliciting Officer.

The two-day training covers the fundamentals of microinsurance, marketing and servicing. One of the tools used in the training is the Microinsurance Agent Tool Kit which includes all the requirements from the Insurance Commission and the Bangko Sentral ng Pilipinas to apply for a Microinsurance Agent License.

Since its launch in January 2011, 208 rural bank representatives from 99 rural banks have been trained under the Rural Bankers Research and Development Foundation Inc. Microinsurance Basic Training Course. Upcoming course will also be held on August 11-12 in Ozamiz City, August 18-19 in Davao City and in …

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USAID Officers Get Hands-on Briefing on Mobile Phone Banking Services

Officers of the United States Agency for International Development (USAID) were given a firsthand briefing on the mobile phone banking initiative of the USAID-supported Rural Bankers Association of the Philippines-Microenterprise Access to Banking Services (RBAP-MABS) Program during a visit with partner bank, PR Savings Bank’s Ortigas Branch on August 11, 2011. The officers included Science & Technology Adviser to the Administrator Alex Dehgan, Environment Officer Kerry Reeves, Teresa Leonardo, Global Climate Change Advisor, and Contracts Officer Technical Representative Teresita Espenilla.

The team was provided with a presentation outlining the Program’s mobile phone banking initiative. As of May 2011, there are some 71 accredited rural banks with over 1,100 branches and other banking offices that are registered to offer mobile phone banking services utilizing the GCASH platform.  These banks have served over 256,000 mobile phone banking clients and customers and have processed more than PhP 12 billion ($ 250 million) in …

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Latest UpdatesMABS HighlightsMicroinsurance

Microinsurance Basic Training Batch 7 conducted by RBAP with the Metro Manila Federation

Rural Bankers Association of the Philippines-Microenterprise Access to Banking Services (RBAP-MABS) Program assisted Rural Bankers Research and Development Foundation Inc. (RBRDFI) conduct the seventh (7th) batch of rural banks for the two-day Microinsurance Basic Training Course last July 14-15, 2011. This qualifies the represented rural banks to apply for Microinsurance Agent licensing with the Insurance Commission and the Bangko Sentral ng Pilipinas (BSP).

Organized by the Metro Manila Federation under the leadership of Mr. Davidson Pascual, the largest Microinsurance Basic Training was attended by thirty-three (33) participants comprised of officers, managers and front liners from thirteen (13) rural banks from Metro Manila and its peripheral municipalities. The RBAP MI Training employed a mix of group workshops and simulation activities that kept the trainees engaged and active.

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Participants listened as Ms. Liamzon-Miller delivers her message during the training

RBAP training for rural banks covers the fundamentals of microinsurance selling, marketing and …

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Latest UpdatesMABS HighlightsMicroinsurance

More Rural Banks in Leyte Complete Microinsurance Basic Training Course

Twenty-one (21) bank officers, managers and staff from sixteen (16) rural bank members of the Leyte-Samar-Biliran Federation completed the Microinsurance Basic Training Course conducted by USAID-supported Rural Bankers Association of the Philippines-Microenterprise Access to Banking Services (RBAP-MABS) Program and Rural Bankers Research and Development Foundation Inc (RBRDFI) on July 29, 2011. The training course is an initial requirement for a rural bank’s application as Microinsurance Agent licensed by the Insurance Commission and the Bangko Sentral ng Pilipinas. The course participants also successfully completed the qualifying examinations administered at the end of the course, which may qualify them as Microinsurance Soliciting Officers.

The Leyte-Samar-Biliran Federation, led by Federation President Rosario Ong Veloso, threw in their full support, making the course the most attended by rural banks since the course was launched in January 2011. This training brings to ninety (90) the total number of rural banks that have been trained in …

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Latest UpdatesMABS HighlightsMicroinsurance

RBAP-MABS & PLIA hold workshop on performance monitoring of microinsurance for life insurance companies

On May 25, RBAP-MABS, with support from USAID/Philippines and the Philippine Life Insurance Association (PLIA), jointly conducted a microinsurance performance monitoring forum for 43 representatives from 25 of the association’s member companies. The main resource person for the activity was RBAP-MABS Microinsurance Consultant and internationally known expert, Mr. Michael McCord.

The activity built on the significant developments in regulations for microinsurance providers, especially Insurance Memo Circular 05-2011 on the Performance Standards for Microinsurance providers released by the Insurance Commission in January 2011. Core to the discussion was the importance of monitoring financial performance indicators in assessing the sustained viability of microinsurance for commercial life insurance companies. Mr. McCord also stressed that venturing into the business of microinsurance requires a commitment to ensuring that services are delivered in the most efficient and appropriate manner for clients.

The activity concluded with PLIA President George Mercado assuring participants that the association will continue …

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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 …

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