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4th microinsurance round table meeting

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The document summarizes the progress of the Rural Bankers Association of the Philippines' (RBAP) microinsurance training program and agent licensing approach. As of September 2011, 136 rural banks had been trained in basic microinsurance, resulting in 270 bank staff being trained as microinsurance soliciting officers. Seven banks had been approved for microinsurance agent licensing, with 11 licensed bank officers. The document outlines RBAP's role in coordinating rural bank licensing requirements with the Insurance Commission and Bangko Sentral ng Pilipinas. It also discusses expediting microinsurance agent licensing and product approval procedures.

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October 3, 2011 RBAP Conference Hall, Intramuros, Manila
Session 1: Updates on the RBAP MI Basic Training Program and Turn-key MI Agent Licensing Approach By: GHAY LYNE MAPANO Microinsurance Coordinator RBAP-RBRDFI
Where are we now? Microinsurance Innovation Facility Grant (September 2010) 13 Pilot Banks (January 2011) 136 Rural Banks trained in Basic MI (August 2011) 270 rural bank staff trained (August 2011) IC approval 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
Microinsurance Status Update 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
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 Oro Davao Cebu Baguio October 13-14
MI BASIC TRAINING BATCH CITY/REGION NO. of RBs NO. 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
RBAP-RBRDFI will be the one to coordinate submission of rural banks licensing requirements to the Insurance Commission and then the BSP.
CHECKLIST OF REQUIREMENTS 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
Session 4: Expeditious Procedures for Microinsurance Agent Licensing and Product Approval By: RUTH ASERON Microinsurance 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.

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4th microinsurance round table meeting

  • 1. October 3, 2011 RBAP Conference Hall, Intramuros, Manila
  • 2. Session 1: Updates on the RBAP MI Basic Training Program and Turn-key MI Agent Licensing Approach By: GHAY LYNE MAPANO Microinsurance Coordinator RBAP-RBRDFI
  • 3. Where are we now? Microinsurance Innovation Facility Grant (September 2010) 13 Pilot Banks (January 2011) 136 Rural Banks trained in Basic MI (August 2011) 270 rural bank staff trained (August 2011) IC approval 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
  • 4. Microinsurance Status Update 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
  • 5. 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
  • 6. Open Seminars Manila Cagayan de Oro Davao Cebu Baguio October 13-14
  • 7. MI BASIC TRAINING BATCH CITY/REGION NO. of RBs NO. 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
  • 8. RBAP-RBRDFI will be the one to coordinate submission of rural banks licensing requirements to the Insurance Commission and then the BSP.
  • 9. CHECKLIST OF REQUIREMENTS 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
  • 10. Session 4: Expeditious Procedures for Microinsurance Agent Licensing and Product Approval By: RUTH ASERON Microinsurance Coordinator RBAP-MABS
  • 11. 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.