The Co-operators announces support for mutual microinsurance strategy in India
Oct 11, 2016
GUELPH, ON, Oct. 11, 2016 /CNW/ - Today, The Co-operators announced its contribution to the International Cooperative and Mutual Insurance Federation's (ICMIF) 5-5-5 Mutual Microinsurance Strategy, which will guide the development of mutual microinsurance programs in five emerging markets, reaching out to five million new households over a five-year period. The Co-operators will provide USD $100,000 per year as well as significant technical assistance to help Uplift Mutuals bring health care insurance to two large cities in India, Mumbai and Pune.
Uplift Mutuals is an ICMIF member that seeks to support low-income Indian families through the provision of affordable health insurance and preventive health resources. With the financial and technical assistance from The Co-operators, a new mutual microinsurance product will be developed and introduced in Mumbai and Pune, where large low-income populations have very limited access to quality health care.
"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," said 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."
In addition to its financial contribution, The Co-operators will provide a range of in-kind staff support to help Uplift Mutuals provide health insurance coverage to uninsured low-income households in Mumbai and Pune.
About The Co-operators:
The Co-operators Group Ltd. is a Canadian co-operative with more than $44 billion in assets under administration. Through its group of companies it offers home, auto, life, group, travel, commercial and farm insurance, as well as investment products. The Co-operators is well known for its community involvement and its commitment to sustainability. The Co-operators is listed among the Best Employers in Canada by Aon Hewitt; Corporate Knights' Best 50 Corporate Citizens in Canada; and the Top 50 Socially Responsible Corporations in Canada by Sustainalytics and Maclean's magazine. For more information, visit www.cooperators.ca.
SOURCE The Co-operators
For further information: Leonard Sharman, The Co-operators, Phone: 519-767-3937