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+++ ABOUT THE WEBINAR +++
Background
Building good customer relations and buy-in is a key tenet of inclusive insurance and this is especially true for smallholder farmers in the developing world who have little experience of insurance. The MicroInsurance Centre at Milliman (MIC@M) has been implementing the IFAD-funded grant project “Managing risks for rural development: Promoting microinsurance innovations” (MRRD) since 2017, with a focus on customer-centric approaches.
Drawing on its five years of experience developing and implementing holistic risk management solutions in China (partially), Ethiopia, and Georgia, MicroInsurance Centre worked with IFAD’s INSURED programme to develop an insurance toolkit with technical tools for practitioners. The toolkit provides project designers and implementers with customer-centric guidance on making agricultural and climate risk insurance work for smallholders.
The webinar speakers will present a high-level overview of these tools, examples of how they have been used in the field, and recommendations for future use. Some of the briefs and tools can be found in the online Insurance Toolkit on ifad.org, while others will be published in the coming months.
Objectives of the webinar
The multiple purposes of the webinar are to:
- Make the case for customer-centric inclusive insurance products, particularly for smallholder farmers and poor rural producers;
- Present a high-level overview of four INSURED programme tools developed, specifically on rapid prototyping, livestock mortality studies, focus group discussions, and community engagement;
- Show how these tools were used in practice, based on examples from the IFAD-financed Managing Risks for Rural Development Project;
- Provide suggestions on how these tools could be used by audience members;
- Answer questions regarding the challenges and opportunities that practitioners encountered.
- Engage audience members through polls and Q&A.
Learning outcomes
- Understanding of the need for a customer-centric approach to developing and delivering inclusive insurance solutions.
- Awareness of the INSURED Insurance Toolkit – which is a work in progress – and specifically of the briefs and tools on rapid prototyping, livestock mortality studies, focus group discussions, and community engagement.
- Recommendations on practical applications of the tools presented
Take-away messages
- Customer centricity is important: it means greater usage which translates into revenues for businesses or insurers and a sustainable supply of affordable insurance for poor rural clients.
- Focus group discussions can be used to gather customer insights and input at multiple points of the inclusive insurance product development process.
- Rapid prototyping in inclusive insurance can bring together cross-departmental teams and spark creativity and innovation.
- Community engagement increases buy-in and raises awareness, and can complement technical and technological implementation in index insurance.
- Gender should be mainstreamed throughout all tools and processes in inclusive insurance to ensure that women’s particular needs and constraints are taken account of.
- The Insurance Toolkit from INSURED provides knowledge briefs and practical tools that audience members can download and use at their organizations.
Full replay of the Live Talk!
—————–
+++ ABOUT THE WEBINAR+++
Background
Building good customer relations and buy-in is a key tenet of inclusive insurance and this is especially true for smallholder farmers in the developing world who have little experience of insurance. The MicroInsurance Centre at Milliman (MIC@M) has been implementing the IFAD-funded grant project “Managing risks for rural development: Promoting microinsurance innovations” (MRRD) since 2017, with a focus on customer-centric approaches.
Drawing on its five years of experience developing and implementing holistic risk management solutions in China (partially), Ethiopia, and Georgia, MicroInsurance Centre worked with IFAD’s INSURED programme to develop an insurance toolkit with technical tools for practitioners. The toolkit provides project designers and implementers with customer-centric guidance on making agricultural and climate risk insurance work for smallholders.
The webinar speakers will present a high-level overview of these tools, examples of how they have been used in the field, and recommendations for future use. Some of the briefs and tools can be found in the online Insurance Toolkit on ifad.org, while others will be published in the coming months.
Objectives of the webinar
The multiple purposes of the webinar are to:
- Make the case for customer-centric inclusive insurance products, particularly for smallholder farmers and poor rural producers;
- Present a high-level overview of four INSURED programme tools developed, specifically on rapid prototyping, livestock mortality studies, focus group discussions, and community engagement;
- Show how these tools were used in practice, based on examples from the IFAD-financed Managing Risks for Rural Development Project;
- Provide suggestions on how these tools could be used by audience members;
- Answer questions regarding the challenges and opportunities that practitioners encountered.
- Engage audience members through polls and Q&A.
Learning outcomes
- Understanding of the need for a customer-centric approach to developing and delivering inclusive insurance solutions.
- Awareness of the INSURED Insurance Toolkit – which is a work in progress – and specifically of the briefs and tools on rapid prototyping, livestock mortality studies, focus group discussions, and community engagement.
- Recommendations on practical applications of the tools presented
Take-away messages
- Customer centricity is important: it means greater usage which translates into revenues for businesses or insurers and a sustainable supply of affordable insurance for poor rural clients.
- Focus group discussions can be used to gather customer insights and input at multiple points of the inclusive insurance product development process.
- Rapid prototyping in inclusive insurance can bring together cross-departmental teams and spark creativity and innovation.
- Community engagement increases buy-in and raises awareness, and can complement technical and technological implementation in index insurance.
- Gender should be mainstreamed throughout all tools and processes in inclusive insurance to ensure that women’s particular needs and constraints are taken account of.
- The Insurance Toolkit from INSURED provides knowledge briefs and practical tools that audience members can download and use at their organizations.
Full replay of the Live Talk!
