Posts Tagged ‘insurance’
Posted on October 20, 2008 - by lincolnw
Micro-Insurance Industry Leaders and UBmatrix Form Consortium to Improve Efficiency of Micro-Insurance Market
REDWOOD CITY, CA, Oct 16, 2008 (MARKET WIRE via COMTEX) — Today, seven organizations including leading players in the micro-insurance industry launched the Micro-insurance Data and Workflow Standardization (MDWS) Consortium to explore the benefits of establishing a new XBRL-based taxonomy and information hub designed to streamline and standardize information exchange in the micro-insurance industry. The goal of the MDWS Consortium is to reduce the cost of providing insurance to poor communities around the world. Participants of the consortium include Gradatim IT Ventures, IBEX Project Services, Micro Insurance Academy (MIA), Micro Insurance Agency Holdings, LLC, Microcare Insurance Ltd, SourceTrace Systems (STS), Sun Microsystems Inc, and UBmatrix, the leading provider of XBRL information exchange solutions…{click this link to read the rest of the article}
Posted on September 22, 2008 - by James
The Economic Times: Insurance firms join MFIs to tap semi-urban, rural markets…
NEW DELHI: Insurance companies have come up with a cost effective idea to reach out to the rural and semi-urban areas in India. A number of large insurance companies have collaborated with various micro finance institutions (MFIs) such as Basix and SKS to market their products.
For some insurance companies, rural market provide as high as 30% of their total volume. In fact, rural India has become one of the key markets for insurance products such as weather, crop, livestock, micro enterprise and health.
“We work with most MFIs on a partnership model for introduction of various insurance products for providing risk mitigation to their members,” says Pranav Prashad, head, rural, ICICI Lombard. MFIs perform a bunch of services for the insurance companies like form filling, maintaining of records, collecting renewal premiums, claim settlement facilitation and other related activities… [click here to read the rest of this article...]
