CLIMBS joins Philippines’ Insurance Industry Leaders in the Promotion of Inclusive Insurance in Asia

 

CLIMBS Life and General Insurance Cooperative represented by President and CEO Fermin L. Gonzales joins four other executive officers from the country’s leading insurance companies, Jean Henry Lhuillier of Cebuana Lhuillier Insurance Solutions (CLIS), Lorenzo Chan Jr of CARD Pioneer Microinsurance Inc., Levy Edwin Ang of Western Guaranty Corporation and Antonio de Roxas of Pru Life UK, as incorporators of the newly formed non-stock and non-profit organization, Mutual Exchange Forum on Inclusive Insurance (MEFIN), Inc.

The project covers Indonesia, Nepal, Mongolia, Pakistan, Philippines and Vietnam, Sri Lanka is the latest member country to join just this month.

MEFIN, Inc., in partnership with GIZ’s Regulatory Framework Promotion for Pro- poor Insurance Markets in Asia (RFPI), will act as the conduit in the sharing of experiences and finding innovative solutions to definitive challenges in terms of regulation, supervision and implementation of business models for a more productive inclusive insurance market.

GIZ RFPI Asia has sustained the regulators in Asia in embracing of globally acknowledge regulatory and supervisory insurance industry by producing an instrument for exchange of knowledge and ideas needed for the formation of policies taking into considerations the specific legal and regulatory environment in each country.

The project also promoted the industry players in formatting business models responsive to the corresponding countries’ frameworks and to give freedom to low income households in protecting their selves from risks like fire, flooding and other fortuitous events.

According to GZI RFPI Asia Programme Director, Dr. Antonis Malagardis, “MEFIN, Inc. has a strategic role in sustaining the gains of inclusive insurance in Asia”.

MEFIN, Inc. was launched on July 14, 2017 at the Diamond Hotel Manila.

 

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