Microinsurance and Social Protection

We provide various consulting services to organizations to design policies and programs to reduce poverty and vulnerability by diminishing people's exposure to risks, and enhancing their capacity to manage economic and social risks, such as unemployment, exclusion, sickness, disability and old age

Services Offered

Following are the category of services, that offered by Micro Insurance unit of BASIX Consulting

ADVISORY SERVICES CONSULTING SERVICES
  • Feasibility studies
  • Situation & Scoping studies
  • Policy Advocacy on micro insurance
  • Need and Affordability analysis
  • Advising on the Distribution Model
  • Impact Assessment of the existing programs
  • Micro Insurance product design, market linkage
    and implementation of process modalities (end to end)
  • Process Reengineering
  • Process Manual preparation and capacity building
    of the channel
  • Handholding the pilot testing and rollout
FACILITATION SERVICES TRAINING & CAPACITY BUILDING

Field-based Facilitation:

  • Low Cost Claim Servicing Model
  • Customer Retention and Policy Servicing

Office-based Facilitation:

  • Business process Outsourcing
  • Claim process Outsourcing
  • Training Manual preparation and rollout trainings
  • Training and Capacity Building of the institution
    (Product and Process knowledge)
  •  Exposure Visits
  • Study Programs

 
Our presence

Through insurance products, BASIX has been able to reach approx. 3.5 million individuals (rural as well as urban) till March 2012 in 18 Indian states. We have also been able to reach poor in other countries through Technical Assistance Programs/Consulting Assignments. Global experience includes working in Papau New Guinea, Srilanka, Fiji, Ethiopia, Thailand, Nepal and Bangladesh. BASIX represented to IRDA on behalf of micro-finance sector to promote enabling regulations for microinsurance. Mr. Vijay Mahajan, Chairman, BASIX, served on the board of IRDA

Target Clients

  • Agencies(Multilateral & Bilateral)
  • Social Funds with Micro Insurance Agenda
  • Regulatory Bodies Govt. Departments/ Ministries
  • Financial Institutions (Insurance companies; MFIs; SACCOS; Federations) 

 
Microinsurance at BASIX

As part of its mission to provide comprehensive financial inclusion services to the rural poor, BASIX initiated its insurance services in 2001, with a definite articulated vision. Started as a pilot, we today have a range of insurance products that cover a gamut of risks that the poor of this country, especially those living in rural areas confront. These include life, health, livestock, micro-enterprise, personal accidents, pension and weather insurance products.

In a period of 11 years BASIX has experienced several product life cycles of Micro insurance products, and with its constant review and enhancement of policy benefits it is delivering the best value for money to the customer. More than this it has created a significant impact by passing around 159,003 claims worth of 744million to its clientele as on March 2012. As an effect of this, in due course BASIX had acquired a rich knowledge in micro insurance domain, which can be helpful for the sector and for the fellow institutions across the globe.

BASIX with its extensive operational experience in the realm of microfinance in India has been the pioneer in design, development and delivery of Index Based Weather Insurance in India, the first weather insurance pilot across the globe. To disseminate the learning and experience in the Microinsurance domain a dedicated SBU - “Micro Insurance and Social Protection (MISP)” was inaugurated by BASIX Consulting on 5th January 2012

 
Projects Undertaken

Following are some projects that BASIX Micro Insurance successfully undertaken

  • “Weather Index Crop Insurance Feasibility Study in Zambia & Malawi” for Swiss Development Agency for Cooperation (SDC)- (Ongoing)
  • “Private Sector Support to Climate Resilience in Zambia: Agricultural weather index-based insurance” for IFC (ongoing)
  • “Index Based Livestock Insurance: Adaptations and Innovations in Ethiopia as a consortium member to work on the process manual and rollout of the IBLI product” for Cornell University (ongoing)
  • “Microinsurance Training Program For Partner Institutions of Association of Ethiopian Microfinance Institutions (AEMFI) Under UNCDF MicroLead-Ethiopia” in Aug 2012
  • “Climate Resilience through Risk Reduction- RES Risk” (using Micro Insurance Solutions, for Swiss Development Agency for Cooperation (SDC), (2012-14)
  • “Global Index Insurance Facility (GIIF) Bangladesh Scoping” for International Finance Corporation (IFC) a World Bank Group in year 2012
  • “Assessment Study of design and delivery of Financial Literacy among poor, across 7 UN Focus States of India (Jharkhand, Chhattisgarh, Madhya Pradesh, Uttar Pradesh, Rajasthan and Orissa)” for UNDP in Year 2009-10,
  • “Micro Insurance feasibility study in Fiji and Papua New Guinea” for UNDP in year 2009
  • “Feasibility Study for developing a replication strategy for indexed crop insurance in Sri Lanka” for Desjardins Development International (DiD) in year 2008
  • “Scoping of the Micro Insurance sector in India, with special focus on Index Based Weather Insurance” for German Development Cooperation (GTZ) in year 2007
  • “Pre-Investment Feasibility Study on Micro-Insurance in India” for United Nations Office for Project Services (UNOPS) in year 2006
  • Consulted to ADB (in 2005-06) for pre-investment feasibility study in the area of micro-insurance for India.
  • Consulted to the World Bank for facilitating introduction of index based weather insurance at:
    • Bangkok, Thailand in May-06 for Bank for Agriculture and Agricultural Cooperatives(BAAC)
    • Dhaka, Bangladesh in Apr-07 for PKSF and MFIs in Bangladesh
    • Addis Ababa, Ethiopia in May-07 for various stakeholders in Ehtiopia including Insurance companies and government ministries

 
 


AdmirorGallery 4.5.0, author/s Vasiljevski & Kekeljevic.