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September 27: Insurance experts and leaders have called for the reduction on the premium cost of micro-insurance that they say work as a ‘lifeline’ for low-income people.
Speaking at a session organized during the 21st edition of Association of Insurers and Reinsurers in Developing Countries (AIRDC) Conference 2018 held in the capital on Wednesday, they said that high transaction cost and high premium for the micro insurance services has become one of the major challenges for expanding micro finance business.
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The two-day conference that has brought together 400 delegates, including 88 foreign delegates from 20 countries, aims to discuss building financial resilience, disaster risk financing, and insurance.
Lorenzo Chan, president at Pioneer Insurance Group of the Philippines, said that partnerships with other institutions like bank and financial institutions, cooperatives, supermarket, malls and travel agencies, can help in reaching out to the low-income people to offer micro-insurance service.
“Other institutions may have stronger network and reach which can be utilized by insurers to provide people micro insurance services,” he added.
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'username' => 'nroy@newbusinessage.com',
'name' => 'Neeraj Roy',
'email' => 'nroy@newbusinessage.com',
'address' => '',
'gender' => '',
'access' => '1',
'phone' => '',
'access_type' => '0',
'activated' => false,
'sortorder' => '0',
'published' => '1',
'created' => '0000-00-00 00:00:00',
'last_login' => '0000-00-00 00:00:00',
'ip' => ''
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
'article_id' => '9188',
'hit' => '1002'
)
),
'Slider' => array()
)
$current_user = null
$logged_in = false
$xml = false
simplexml_load_file - [internal], line ??
include - APP/View/Elements/side_bar.ctp, line 133
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::_renderElement() - CORE/Cake/View/View.php, line 1224
View::element() - CORE/Cake/View/View.php, line 418
include - APP/View/Articles/view.ctp, line 391
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117
