microinsurance

It is estimated that the size of the worlds untapped low income insurance market is between 600 million to 1 billion people. With only 3% of low income people in the world's poorest 100 countries having access to insurance of any kind, the need for appropriately designed (in terms of terms, coverage, and delivery), innovative and affordable microinsurance products is now more apparent than ever. It is now widely recognised that microinsurance products specifically designed to serve low income people significantly contributes to the alleviation of poverty by inter alia: allowing low income people, vulnerable populations and entrepreneurs to take business risks; stabilising income levels; dampening shocks that without insurance often leave families destitute; providing a level of security to lenders who were previously hesitant to lend to the poor; and in the case of health insurance, improving health outcomes by reducing the cost of seeking care. Widely recognised as one of the world's leading actuarial consulting firms in microinsurance each of our five practice areas contributes to our work in this area. Our work covers both traditional actuarial and non-actuarial aspects.

• product development and pricing
• alternative payment and distribution models and strategies
• development of start-up tools including questionnaires, surveys, assessment tools and cash flow models
• landscaping studies
• business plan and operational strategy development
• performance assessments
• analysis of claims and lapse experience
• risk management and reinsurance strategy
• due diligence for donors and potential investors
• development of training manuals

• been selected as a LeapFrog Financial Inclusion Fund partner firm on the basis that Quindiem is recognised as a world class technical assistance provider for low income financial services
• become an active member of the Microinsurance Network
• been selected as a preferred technical assistance provided by the ILO Microinsurance Innovation Facility
• hosted an ILO Microinsurance Innovation Facility Joint-Mission Programme intern
• been engaged through one of the South African non-life insurers, to work in collaboration with one of the major South African banks to design, develop and price non-life microinsurance products that will support the bank's microfinance initiative
• designed a comprehensive questionnaire and high level guidelines, undertaken a data analysis exercise and scoped a range of viable microinsurance and savings products and services aimed at serving the needs of the lower end of the Swaziland market
• under the auspices of Agence Française de Développement (AFD), undertaken a comprehensive landscaping exercise and feasibly study for a potential funeral microinsurance project in South Africa
• written the business plan and designed and priced funeral insurance products for a microinsurer wishing to enter the South African funeral mircoinsurance market
• assisted a health microinsurance company in Uganda with product design, experience investigation, reinsurance pricing and strategy
• modelled the business and prepared the license application for a health microinsurance company in Zambia
• assisted in the transition of a Ugandan NGO insurer into a full commercial operation
• in collaboration with the Micro Insurance Centre undertaken a landscaping exercise of low income insurance markets in the world's 100 poorest countries
• contributed to a manual entitled 'Making Microinsurance Work for MFIs'. The manual was constructed as a resource for training microfinance managers and employees in microinsurance principles and implementation, both as a standalone text book, and as a resource for training to be conducted by the ILO.