CARD MRI microinsurance group targets faster claims process
With its thrust to improve the claims settlement practice in the Philippines, the CARD Mutually Reinforcing Institutions (CARD MRI) microinsurance group will be producing Certified CARD Claims Adjuster (C3A) to bring faster service to its insured clients.
C3A is a trained CARD staff who will be providing efficient and fast assessment of the liability of the CARD microinsurance group to its insured clients. It aims to change the poor settlement process of getting the insurance claims in the country.
According to the data released by the Insurance Commission, 26.6 million individuals, who are mostly poor, are now covered by microinsurance protection as of first quarter of 2017. “With the increasing number of expectant Filipinos with their insurance benefits, it is just right that they get the right and fast service when unexpected things happen to them or to their families,” Mr. Vener Abellera, the President and General Manager of CARD MRI Microinsurance Agency (CaMIA), said. CaMIA is the microinsurance agency of CARD MRI.
The “8-24” strategy
CARD MBA, the life insurance company of CARD MRI aims to narrow down its process from “1-3-5” method to “8-24” strategy.
“CARD MBA insures more than 14.1 million individuals who mostly came from the disadvantaged communities. When uncertainty comes, these individuals depend on the benefits they can claim from the Association. In relation to their financial position, we have stepped up our “1-3-5” day method to “8-24” settlement strategy– within eight (8) hours to 24 hours the Association must be able to pay its clients’ insurance claims. This is our commitment with our clients who trusted CARD MRI,” Ms. May Dawat, CARD MBA General Manager, said.
CARD microinsurance group – CARD MBA, CaMIA, and CARD Pioneer Microinsurance Inc. (CPMI) expects to produce enough number of C3As before 2017 ends. At the end of the certification, CARD MRI staff will be more efficient in validating and determining the insurance claims.
Building better foundation
CARD MBA provides the microinsurance needs of the members of the four financial institutions of CARD MRI – CARD, Inc., CARD Bank, CARD SME Bank, and Rizal Bank, Inc., from their membership up to their retirement. CPMI continues to innovate non-life microinsurance products that suits the needs of the underserved communities while CaMIA delivers the non-life insurance products to the communities CARD MRI serves.
CARD MBA, CaMIA, and CPMI cater the microinsurance needs of the socially and economically challenged families in the country to help them be resilient in times of unanticipated events.