The International Cooperative and Mutual Insurance Federation's (ICMIF) 5-5-5 Mutual Microinsurance Strategy is now supported by 20 member organisations from 13 countries across the world.
The 5-5-5 Mutual Microinsurance Strategy is a first of its kind initiative where cooperative and mutual insurers can work together to promote mutual microinsurance in a sustainable manner to help communities who need it most.
Anne Mette Toftegaard, Chief Executive Officer of LB Group in Denmark, reflects on their decision to support ICMIF’s 5-5-5: "Rarely do we get the chance to support an organization and a project that resonate so clearly with our core service and our members. We pride ourselves on being a mutual and taking our members’ interests into consideration in our daily dealings."
Chris Black, from FMG in New Zealand, explains their decision to support the 5-5-5 Mutual Microinsurance Strategy: “Aligned with our mutual philosophy is the belief that if everyone contributes a little, collectively we can make a big difference. ICMIF’s 5-5-5 Strategy is an important global initiative that requires a collective effort. It’s making a positive difference to the lives of people in countries in need of our support. As such, FMG is proud to be associated with and support ICMIF in this endeavour to lead this initiative on behalf of their mutual and cooperative insurance members.”
As does Ms Hiroko Kowada, Manager, International Affairs Division and AOA Executive Secretary, Zenkyoren, Japan: "The 5-5-5 helps provide stability to the lives of vulnerable people who have not previously been insured, helping them become more resilient against risks they face on a daily basis such as natural disasters, accidents and illnesses. We have decided to provide support to this outstanding and significant project and it’s our hope that we can inspire more individuals and organisations to do the same.”
Ms. Betina Del Valle Azugna, CSR Manager from Sancor Seguros, Argentina also commented: "Sancor Seguros is highly committed to the 2030 Agenda and the Sustainable Development Goals (SDGs), particularly to the first one “End of Poverty”. We strongly believe that 5-5-5 Mutual Microinsurance Strategy is an effective tool for empowering the most socially vulnerable people and for capitalizing the support for mutual microinsurers thus making a positive impact on millions of low income families."
This is a member to member project and ICMIF members can support the 5-5-5 Mutual Microinsurance Strategy by providing:
- Financial assistance: In the form of a grant, with an opportunity to provide year-on-year support.
- Technical assistance: Members of staff can complete assignments (for a given duration that suits both employee and the member organization) to assist with initiatives such as board and staff training, operating systems development, policyholder/member education, marketing, product development, impact assessment and advocacy.
Through the 5-5-5 Mutual Microinsurance Strategy, ICMIF aims to expand the reach of mutual microinsurance in five countries over the next five years by reaching 5 million currently uninsured, low-income households (equating to 25 million individuals).
ICMIF members can obtain information on how to support the 5-5-5 Mutual Microinsurance Strategy in more detail by contacting Tina Blain, Resource Mobiliser, ICMIF at email@example.com or (+44) 161 929 5059.