Promoting access to microinsurance for financial inclusion and decent work Phase II 2013-2014

The present UNCDF/ILO Joint Programme “Promoting Access to Micro-insurance for Financial Inclusion and Decent Work, Phase II” stands for the expansion of the initial UNCDF/ILO JP approved in 2007 on this theme. Phase I key results have been reached overall, with the successful launching of three country pilots programs in Ethiopia, Zambia and Kenya, the drafting of a normative tool for the development of a sector-based programmatic approach for the promotion of micro-insurance, and the finalization of a product diversification training module by ILO, which includes micro-insurance among other services. Phase II proposes to expand the scope of Phase I geographically, but also (and more importantly) with a major qualitative transformation by anchoring this new phase under the umbrella of a global micro-insurance initiative called “Access to Insurance Initiative” (A2II). A2II is sponsored by ILO, GTZ, the World Bank, Finmark Trust and the International Association of Insurance Supervisors (IAIS), which is the regulatory body for the supervision of the insurance industry. In terms of geographic coverage, Phase II will, in addition to the expansion of on-going activities in the three countries targeted under Phase I, initiate two additional micro-insurance pilot programs, one in West Africa and one in Asia, in countries to be determined jointly with ILO. The qualitative transformation of Phase II is reflected by the fact that the UNCDF/ILO JP will now become part of the larger framework of A2II, under which the sponsor-donors mentioned above will develop a series of country programs in other regions (mainly Latin America and Asia). Anchoring Phase II under the A2II umbrella will provide the following benefits for UNCDF and ILO. It will provide for a major leverage factor to the on-going and planned pilots of both agencies: “intellectual property” leverage by enabling all pilots developed under A2II to use the normative tool on the MI “sector based approach” developed under Phase I and “programmatic” leverage by including the JP Phase II activities under a much larger community of practices, for purpose of knowledge management and sharing of lessons learnt, as well as evaluation. Finally, Phase II will develop a more formal link with the ILO’s USD 35 M “Micro-insurance Innovation Facility” funded by the B&M Gates Foundation, by encouraging applications from MI providers in countries where there are on-going and planned JP pilot activities

Project symbol

INT/13/14/CDF

Admin unit

EMP/SFP

Start date

01/07/2013

End date

30/06/2015

Total allocation

300000

Total expenditure

Status

Closed

278643

Development Partners

United Nations Capital Development Fund

Country/Countries

Senegal

Outcomes

Promoting sustainable enterprises