NEFSCUN at Nepal
In 2003 MIAN was requested by NEFSCUN, a co-operation for saving and credit in Nepal to do a business case on micro insurance.
After merely two years the first policies were issued in 2005 (death risk insurance). Soon after the issuance of the first policies some confusion arose about the right of indemnity of the insured: paying premium now and receive indemnity paid in the future is something that is difficult to understand for the NEFSCUN-members.
Baring this in mind MIAN together with NEFSCUN worked hard to adjust the death risk insurance in such a way that the right of indemnity is clear now to the insured. Furthermore, the premiums have been adjusted to the market situation in Nepal. Furthermore, MIAN has paid a lot of attention to the development of a variant, a combination of insurance and saving. A so-called endowment insurance. We are currently working on a pilot, which we hope to enrol on a small scaled basis in the autumn of 2007
NEFSCUN appreciates it very much that they are able to extend their services to their members.
