Re-insurance School
Training
Project Title:Re-insurance School for Micro Insurance Units (MIUs)
PROJECT CATEGORY:Training
OBJECTIVE:
The Reinsurance School aims to demystify reinsurance for people engaged in, or supportive of, sustaining micro insurance units, through specialist training by world-class experts. The training objective of the reinsurance school is to provide participants with a clear idea about the advantages of reinsurance for their micro insurance scheme, and the solutions open to them to formulate demand for reinsurance within the legal framework in India.
BACKGROUND:
Reinsurance is new to the also relatively new world of micro insurance. Most managers of micro insurance schemes have never dealt with reinsurance, and consequently do not know from experience what reinsurance can do for their micro insurance schemes, and why/how this added degree of financial security is essential for sustainable operations. The Reinsurance School is the only event to cater to the needs of MIUs on reinsurance.
PROJECT CONCEPT:
Micro insurance units (MIUs) are exposed to a considerable risk of insolvency when operating as small, stand-alone units with inconsistent incomes. To protect them from this financial vulnerability, the training focused on how reinsurance can be used as a tool to build a safety net for micro insurance schemes. The focus of the event is on presenting reinsurance as a powerful risk management tool for micro insurance units.
Participants are exposed to various lectures, interactive sessions and case-studies that would illuminate the scope of reinsurance in a micro insurance framework, and provide an understanding of the structure of reinsurance contracts.
The training is designed to offer participants:
- A better understanding of risk structures
- Benefits of aggregated risks for large groups vs. fragmented risks of stand-alone small groups or individuals
- Identification of reinsurable financial risks for micro insurance units
- A better understanding of the cost and benefits of reinsurance, and its contribution to reducing risk exposure
- Tips on maintaining win-win collaboration with reinsurers
FUNDING:
The School has received financial support from DGRV and MISEREOR.
DURATION:Yearly
COUNTRY:International
LOCATION:
In 2007, 2008 and 2009 the School was held in New Delhi, India.
CONTACT:Iddo Dror, Director of Operations, iddo@mia.org.in
PROGRESS:
Following the first two editions, the 3rd edition of the Reinsurance School for Micro Insurance Schemes was held in New Delhi on 16-18 Nov 2009. This year, nearly 40 participants attended the event, representing Indian and International NGOs and insurance companies and academia. As in previous years, the feedback was very positive. The location and date of the next edition of the Re-insurance School will be announced shortly.
