Thinking about starting your own microinsurance institution? Aris Alip has a few tips.
Alip is the managing director and founder of the Center for Agriculture and Rural Development Mutual Benefit Association. CARD MBA is part of a 14-company social business conglomerate — the CARD Mutually Reinforcing Institutions — that got its start as a microfinancing operation in the 1980s and now boasts 11 million members, mostly poor women.
The microinsurance operation was launched a decade later and Alip is — quite literally — considered the godfather of microinsurance in the Philippines. To make sure the intended beneficiaries will receive their due, CARD MBA has gotten into the marriage business.
Undocumented common law marriages are the norm in the rural outback, but without marriage and birth certificates, spouses and children would be hard-pressed to make insurance claims.