The Co-operators funds microinsurance in Indiapar Andrew Rickard | October 12 2016 09:32AM
The Co-operators is providing $100,000 USD per year to help develop mutual microinsurance programs in India.
The insurer announced yesterday that it is contributing not only money but also technical assistance to help Uplift Mutuals bring affordable health care insurance to low-income families in the Indian cities of Mumbai and Pune.
The contribution is being made through the International Cooperative and Mutual Insurance Federation's 5-5-5 Mutual Microinsurance Strategy, which will fund mutual microinsurance programs in five emerging markets, reaching five million new households over a five-year period.
"The co-operative and mutual sector is committed to improving the lives of millions of low-income households in the developing world, and we are proud to contribute to this mission through our involvement in the 5-5-5 initiative," says Kathy Bardswick, president and CEO of The Co-operators. "Development of the mutual microinsurance market in the five countries identified will have an enormous impact on the health, wellness and financial security of a great number of individuals and families."