Caravan to promote the importance of microinsurance launched
The CARD Mutual Benefit Association (CARD MBA), CARD MRI Insurance Agency (CaMIA), and CARD Pioneer Microinsurance Inc. (CPMI) launched a Microinsurance Caravan, which will serve as an awareness campaign on the importance of microinsurance.
The member-savers of the three banking institutions of CARD Mutually Reinforcing Institutions (CARD MRI), the CARD Bank, Inc., CARD SME Bank, Inc., and Rizal Bank, Inc., as well as their beneficiaries will benefit from the said campaign.
“These member-savers are those who have not availed any loan products and are not attending center meeting,” said May Dawat, general manager of CARD MBA. She added that the campaign calls for the clients to avail products and services offered by CARD MBA, CaMIA, and CPMI other than the regular insurance they avail as member of the institution.
According to GM Dawat, clients of CARD MRI are automatically insured in CARD MBA’s life insurance product once recognized as member. “These individuals, however, need to also be covered with non-life insurance, which are not covered by CARD MBA to be prepared in times of uncertainties,” she added.
The first leg of the caravan was held in Mandaluyong City, where at least 400 member-savers attended. To date, the campaign already reached more than 1,500 member-savers from Laguna, Marinduque, Makati, and Quezon Province.
“These identified areas are the top list with most number of member-savers,” GM Dawat said, adding that the generation of data is through CARD MRI’s Data Control Center (DCC).
GM Dawat disclosed that at least nine areas in Davao City, Oriental Mindoro, Albay, Capiz, and La Union or more than 2,700 member-savers will be reached by the caravan before the year ends.
CARD MBA provides microinsurance products for the members of the Association and their families; CaMIA is the insurance agency of non-life insurance products of CARD MRI; and, CPMI is the first non-life microinsurance company in the Philippines.
These three organizations are the microinsurance arms of CARD MRI, a social development organization that provides financial and community development services to poor women and their families.