Extending mutual microinsurance to 5 million uninsured households in five countries over five years.

DHAN Foundation provides cover to over 100,000 previously uninsured people in India through the ICMIF 5-5-5 Strategy

The project with the DHAN Foundation (India) under the International Cooperative and Mutual Insurance Federation’s (ICMIF) 5-5-5 Mutual Microinsurance Strategy has gained significant momentum since its launch in April 2017, with over 108,000 previously uninsured individuals from low-income communities now protected with mutual microinsurance (as of 31 December 2017).

Gayathri Sakthirajan, Chief Executive of People Mutuals, DHAN Foundation says: “We are really proud to have reached over 108,000 new individuals in just over six months. Our members mainly reside in poor and marginalised communities, which are faced with multiple risks. DHAN Foundation’s community model aims at organising these communities into self-help groups and federations, and we have been able to achieve our target by significantly expanding this current network.”

The ICMIF 5-5-5 project with the DHAN Foundation aims to insure a total of 1.17 million previously uninsured people from low-income communities with its mutual life, health, crop and livestock products, and is part of the second phase of the 5-5-5 Strategy in India (ICMIF is working with Pune-based Uplift Mutuals for the first phase).

Gayathri continues: “Other key achievements of our project so far include the delivery of four types of training camps attended by over 54,000 individuals, which included more than 4,000 training sessions for members on insurance literacy. We have also produced a variety of communication materials in the form of pamphlets, presentations, and manuals in the local language (Tamil) for our literacy programmes.”

In addition to this, the DHAN Foundation has organised six events focusing on risk reduction services for members. These include health camps; alcohol de-addiction training; anaemia screening among adolescent girls and nursing mothers; and screening for other basic health indicators.

ICMIF members are providing support to the project with the DHAN Foundation either financially (in the form of a donation) or through technical assistance projects where employees of member organisations can offer their technical expertise.

A total of 14 ICMIF members have so far come together to provide financial assistance to the project with DHAN Foundation. ICMIF member Achmea, based in the Netherlands, have also agreed to send members of staff on secondment to provide technical assistance to the DHAN Foundation. Bob Tjaarda, Financial Management Trainee at Achmea, conducted a review of the business plan in 2017, and Bas Lavalaye, Manager Finance and Control, will visit the DHAN Foundation’s offices in Madurai in April this year to assist with preparations for the first Annual Review Meeting of the project.

Sabbir Patel, Chief Executive Officer, the ICMIF Foundation explains: “We’re really grateful for both the financial and technical support ICMIF members have provided, which has enabled the DHAN Foundation to make significant progress in their mission. Supporting our 5-5-5 Strategy by providing either financial or technical assistance is an excellent opportunity to make a positive impact to the global community and within your own organisation, and we are always happy to speak to our members about how they can get involved”.

ICMIF’s 5-5-5 Mutual Microinsurance Strategy is a five-year project based in five emerging markets (Colombia, India, Kenya, the Philippines, and Sri Lanka) which aims to provide five million previously uninsured households with insurance cover for the first time (equating to 25 million lives). The 5-5-5 Strategy has been widely discussed at meetings of the B20, and will specifically assist with at least five of the United Nations 2020 Sustainable Development Goals.

To find out more and discuss ways to support the ICMIF 5-5-5 Mutual Microinsurance Strategy please contact Tina Blain, Resource Mobiliser tina@icmif.org.