VIMO SEWA SEWAS MICROINSURANCE PROGRAMME FOR WOMEN

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VIMO SEWA SEWAS MICROINSURANCE PROGRAMME FOR
WOMEN

• Regional Workshop on Microinsurance Sector
  Development
• June 29,2007
• Colombo, Sri Lanka

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SELF EMPLOYED WOMENS ASSOCIATION (SEWA)
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Insurance Sector in India

• Controlled by Govt for a long time
• One life and Four non life insurance cos.
• Deregulated in 1999
• Insurance Regulatory and Development Authority
  (IRDA)
• Micro insurance in India

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Social Security at SEWA
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History

• Started in 1992 from SEWA Bank
• Collaborated with insurance cos.
• Need based composite package for women
• Insured 7000 members of SEWA in initially
• Evolved according to the needs of insured

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Insurance products offered by VIMO SEWA

• Life
• Accidents
• Health
• House and Assets
• Weather

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Current Schemes Scheme 1
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Scheme 2
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Current membership

• Women 1,01,681
• Men 46,305
• Children 36,657
• Total 1,84,643

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Reaching The Poor

• Member VIMO SEWA Insurance Cos
• Education Product Design
• Marketing Risk Carrier
• Claims servicing
• Data maintenance
• Research and monitoring
• Policy advocacy

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Premium Collection

• House-to-house
• Through self-help groups
• Annual quarterly monthly

Fixed deposit Annual pay
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Claims servicing

• Member VIMO SEWA Ins. Co.

Aagewan
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Strategies to reach the poor

• Need based, affordable products
• Composite package for the family
• Overall operations by the grass root, community
  leaders
• Doorstep and one window quality service
• Decentralization

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Strategies(cont.)

• Linkages with other services i.e. savings, health
  etc.
• Linkages with economic activities
• Partnering with other organisations

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Challenges

• High transactional costs to serve poor
• Data maintenance
• Business Vs. social objectives
• Viability
• Regulatory environment

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Future Plans

• Focus on family insurance
• Focus on deepening and renewals
• Control on claims ratio
• Increase the outreach
• Policy advocacy
• Govt. contributory insurance programme for poor

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THANK YOU
social_at_sewass.org www.sewainsurance.org
SEWA
VIMOSEWA