Agenda 3:30 3:33 Dr. Antonis Malagardis , Moderator Speaker 1: - PowerPoint PPT Presentation

Opening message and house rules Agenda 3:30 – 3:33 Dr. Antonis Malagardis , Moderator Speaker 1: 3:33 – 4:10 Mr. Arup Chatterjee Principal Financial Sector Specialist, Asian Development Bank Speaker 2: Ms. Emily Coleman Financial Inclusion and Insurance Expert, INSURED, International Fund for Agricultural Development, (IFAD) Speaker 3: Dr. Jaime Aristotle Alip Founder and Chairman, Center for Agriculture and Rural Development, Mutually Reinforcing Institutions (CARD MRI) Panel Discussion & Q&A 4:10 – 4:40 Moderator, resource speakers & participants Wrapping up, Key takeaways, Experience Survey & Closing of session 4:40 – 4:45 Moderator

1. Please turn off your microphone and House Rules webcam to conserve internet bandwidth and allow for an uninterrupted webinar. 2. If you have questions, please post them in the chat. The moderator will pick them up during the Q&A session. 3. You can access the slides and the recording of the webinar on the MEFIN homepage in a few days after the event.

Source: shorturl.at/nAB12 Source: shorturl.at/einJT Source: shorturl.at/kpDI3 Source: shorturl.at/uzHK9 Source: shorturl.at/hkuwC Source: shorturl.at/abczJ Source: shorturl.at/btxOR Source: shorturl.at/gpMS2 Source: shorturl.at/oy456 Source: shorturl.at/twKRY The he di diverse f fac aces o of the he i informal s sector: t tak akeaways f for i ins nsurance Arup Chatterjee Principal Financial Sector Specialist Source: Source: shorturl.at/corRW Source: shorturl.at/cdAGL Source: shorturl.at/kpFQS shorturl.at/dKTY2 Source: shorturl.at/qT029 Source: shorturl.at/nHQZ1 Source: shorturl.at/bgqRT Source: shorturl.at/lFVZ1

Outline • Understanding the informal sector • Risks and vulnerabilities • Risk sharing and transfer options • What could the new normal look like? Source: https://devpolicy.org/microfinance-and-the-informal-economy-under-covid-19-20200624-2/

Understanding the informal sector Source: https://www.stitcher.com/podcast/informal-economy-podcast-social-protection Source: Godfrey Paul C, Toward a Theory of the Informal Economy, Academy of Management AnnalsVol. 5, No. 1 Source: Dasgupta, Nandini and Tony Lloyd Jones, Heterogeneity and vulnerability in the urban informal economy: Reworking the problem in the current context. The case of Uganda, World Development Perspectives, Volumes 10–12, June–December 2018

Risks and vulnerabilities Souce: https://www.csis.org/analysis/case-disaster-smart-agriculture-2017-reflections Source: https://www.preventionweb.net/disaster-risk/risk/vulnerability/ Source: https://www.bbc.com/news/world-asia-india-52106565 Source: https://www.eastasiaforum.org/2020/06/20/indias-lockdown-locks-out-the-poor/

Source: shorturl.at/uTZ56 Source shorturl.at/kKMRS Source: shorturl.at/crCEN Source: shorturl.at/bwPRX Source: shorturl.at/etI35

What could the new normal look like? Source: https://thediplomat.com/2020/06/the-pandemic-revealed-indias-invisible-workforce

Thank you Source: https://www.nytimes.com/2019/07/06/opinion/sunday/public-option.html

The diverse faces of the informal sector: smallholders MEFIN PPD9

INSURED programme Funded by Sida, implemented by IFAD through PARM Goal to: build the resilience of poor rural households, increase their capacity to manage risk, and strengthen their livelihoods Provides technical assistance to IFAD’s portfolio:  Policy and strategy for governments  Feasibility assessment and implementation with market-actors; and  Capacity building and knowledge management at all levels Global programme with 9 core countries in Asia-Pacific and Africa: Bangladesh, Burkina Faso, Cambodia, Ethiopia, Indonesia, the Philippines, Uganda, Viet Nam and Zambia.

The rural poor: Diverse target groups & approaches Vulnerable groups (poor and non-poor) Cross-cutting in disaster-prone target group areas inclusion, i.e. Government-backed gender and youth macro level disaster insurance Government-backed macro level contingency fund

Why a gender-inclusive approach? • Strengthening women’s contribution to the rural economy, protect their specific vulnerabilities, and entire households • Rural women: 50% + of the agricultural labour force in developing countries • Women and men respond to risks differently, women are harder hit by shocks • COVID-19: reported women are likely to be hit harder by value chain disruptions • Women traditionally in charge of risk management in the family and often also of household financial planning • More active in social networks, and have access to groups or associations that can be used to scale up the delivery of insurance products • Some contexts, women farmers have been shown to be more open to purchasing insurance than male farmers • Insurers can scale up their markets and make offerings sustainable

Challenges to women’s access to agricultural and CRI • Women often unable to access insurance solutions and are excluded from their benefits • Agricultural and CRI products and schemes often designed and delivered without considering the different needs and constraints of women farmers • Challenges to women’s inclusion include: • Restricted access to resources • Lower levels of land and livestock ownership • Lower levels of education and literacy • Exclusion from formal financial systems • Time restrictions and heavy burden of other household work

What to do - Solutions along the insurance value chain

How to do it Including women from the beginning Checklist to guide designers and implementers: 1. Gender-sensitive demand assessments for insurance 2. Develop insurance literacy materials understood by women and men, and information dissemination approaches for both groups 3. Sensitize and build capacity of the private sector and ministries 4. Support development of distribution models that work for the female farming community 5. Capture and monitor sex-disaggregated data

Thank you! e.coleman@ifad.org

Insurance for the Informal Sector: The CARD MRI Approach Dr. Jaime Aristotle B. Alip Founder and Chairman Emeritus 9th MEFIN Public Private Dialogue: De-Risking Climate and Pandemic Disasters September 29, 2020

CARD MRI At-A-Glance As of July 2020 6.8M clients outreach informal sector, agricultural sector CARD, Inc.- microentrepreneurs, small businesses CARD Bank- CARD SME- PhP26.46 Billion Loan Outstanding CARD MBA- CARD RBI - 24M insured individuals 10 Billion claims paid from 1999-present 95.39% claims settlement in 8-24 hours 18,564 Fulltime Staff deployed in all 85 provinces including NCR, 96% (1,580) of cities/ municipalities and 96% (40,450) of barangays

CARD MRI Microinsurance Group Covers the life insurance, retirement, and loans of members Delivers affordable life & non-life insurance products and services to help members get back on their feet after any calamity

Reaching the Low Income Sector amidst the Pandemic • CARD Microinsurance Group continues paying claims amidst Covid- 19 with 232,488 settled cases with P933.80 million total amount of claims payment from March 17 to August 2020 ( P549.8 million claims payment for deaths with 216 cases/day; 56 members/ dependents are confirmed Covid- 19 cases with P1,695,904.10 claims paid). Below is the breakdown of claims per our insurance products: Amount Insurance Benefits Count (in million) Basic Life Insurance 115,640 672.10 Retirement Fund 86,821 76.50 Credit Life 7,145 81.90 Golden Life Insurance 542 16.70 Family Security Plan 20 1.10 Other Optional Life Products 2,532 11.00 SAGIP Plan 9,975 43.90 KABUKLOD Plan 1,316 13.90 DAKILA Plan 137 5.30 BINHI 20 0.10 CARD Care 8,115 9.10 Medicash 225 2.20 TOTAL BENEFITS 232,488 933.80

Reaching the Low Income Sector amidst the Pandemic • Ensure fast claims settlement through the use of alternative delivery channels to address mobility restrictions • Allowed insurance renewal online during this time of pandemic • Provides member virtual/online education and training to keep them aware of their protection and insurance coverage • Continues relief good efforts to disaster affected members (recent typhoon and earthquake) with total 128,615 number of members affected

Reaching the Sub-Segments of the Informal Sector Provision of different insurance products depending on member/clients need Basic Life Golden Life SAGIP CARD Care Kabuklo SAGIP BINHI Product Insurance Insurance Plan insurance d Plan Negosyo Crop Name Plan (Health) Insurance Clients/ Clients/ Clients/ Clients/ For Sari-sari Farmers Members Members above Members Members organized store owners Target 70yrs old groups Segment General Public Death Benefit, Death Benefit Personal Daily Hospital Personal Accidental Crop Accidental Accident, Benefit, Accident, Death and insurance due Death Benefit, Funeral Personal Funeral Dismemberm Flood and Total and Benefit, Accident Benefit, Fire ent Benefit, typhoon Permanent Calamity Aid Benefit Cash Calamity Aid Benefits Disability Assistance for Fire/ Benefit, Motor Lightning, Vehicular Typhoon/ Accident Flood Hospitalization Benefits

Policies Sold Per Product 2018 2019 August 2020 2018 2019 August 2020