Eighteen (18) officers and staff of eleven (11) rural banks participated in the 2-day Microinsurance Basic Training held on May 4 and 5 at the Golden Prince Hotel in Cebu City. Stated goals of the participants included (1) increased understanding of the concept and principles of microinsurance; (2) identification of criteria for partnership selection, and (3) awareness of requirements and procedures for regulatory compliance in offering Microinsurance.
With this in mind, the Microinsurance Training Team employed a mix of lectures, workshops and simulation activities to ensure that the participants not only learn the basic concepts of microinsurance, but also aim to pursue responsible microinsurance marketing and servicing as licensed microinsurance agents/brokers. The Microinsurance Agent Licensing Kit containing step-by-step guides and templates was provided to all participants. This kit is to assist the participants’ respective banks through microinsurance service enhancements and regulatory compliance procedures prescribed by the Insurance Commission (IC) and …