October 3, 2011RBAP Conference Hall, Intramuros, Manila

Session 1:

Updates on the RBAP MI Basic Training Program and Turn-key MI Agent Licensing Approach

By:

GHAY LYNE MAPANOMicroinsurance Coordinator

RBAP-RBRDFI

Where are we now?

Microinsurance Innovation Facility Grant (September 2010)

13Pilot Banks (January 2011)

136Rural Banks trained in Basic MI

(August 2011)

270 rural bank staff trained

(August 2011)

ICapproval of RBAP as

Microinsurance Training Provider

100 or more rural banks with 1,000 or more branches and OBOs licensed as MI

agents

1,000,000 or more microenterprise clients and 3,000,000 of their household members

covered by microinsurance

2013

Criteria Number(as of September 30, 2011)

No. of Banks Trained in Basic MI 136

No. of 2-day Basic MI Training courses conducted 12 batches

No. of Bank staff trained and now qualified as MI Soliciting Officers 270

No. of Banks that submitted request for BSP No Objection Notice 48

No. of Banks issued BSP No Objection Notice 26

No. of Banks approved for MI Agent Licensing 7

No. of licensed Bank MI Soliciting Officers 11

Microinsurance Status Update

Federation-Hosted MI Trainings

La Union Chamber of Rural Banks

Confederation of Bicol Rural Bankers

Federation of Metro Manila Rural Bankers

Leyte-Samar-Biliran Federation

Northwestern Mindanao Federation

Iloilo Federation of Rural Banks

Open Seminars

Manila

Cagayan de OroDavao

Cebu

Baguio October 13-14

BATCH CITY/REGION NO. of RBsNO. OF QUALIFIED

SOs

Pilot Manila, NCR 8 14

2 La Union, Region I 8 12

3 Manila, NCR 12 24

4 Cebu, Region VII 10 18

5 Albay, Region V 11 34

6 Cagayan de Oro 13 25

7 Manila, NCR 13 33

8 Leyte, Region VIII 15 21

9 Manila, NCR 10 22

10 Ozamiz City 11 22

11 Davao, Region XI 9 14

12 Iloilo, Region VI 17 33

TOTAL 136 270

MI BASIC TRAINING

RBAP-RBRDFI will be the one to coordinate submission of rural banks’ licensing requirements to the Insurance Commission and then the BSP.

Source Document

Bank Letter to the BSP for a No Objection Notice for the bank to sell, market & service

Microinsurance

BSP No Objection Notice for the Bank to sell, market and service Microinsurance

CHECKLIST OF REQUIREMENTS

Session 4:Expeditious Procedures for Microinsurance Agent Licensing and Product Approval

By:

RUTH ASERONMicroinsurance Coordinator

RBAP-MABS

MI Agent Licensing Application Process

Some banks have already existing partnerships with commercial insurers. In such cases, they are informed of the option to stay with their partner on the condition that the company procures the appropriate provider

authorization and product approval from the Insurance Commission.