What is the 5-5-5?
ICMIF launched the 5-5-5 Mutual Microinsurance Strategy (the "5-5-5") to scale up mutual microinsurance in five countries. The ultimate objective is to build resilience in communities and developing insurable populations by providing financial education, risk reduction and affordable need-based insurance products.
The 5 Countries
The countries identified to take part in the 5-5-5 Strategy are India, The Philippines, Kenya, Sri Lanka and Colombia. The country selection criteria being:
- Frontrunner in microinsurance
- High incidence of poverty
- Geographic reach
- ICMIF member presence