Providing insurance to low-income communities presents unique challenges and opportunities. Success in this sector requires a multifaceted approach that includes leveraging technology, engaging with the community, and understanding the specific needs of these populations. Card MBA, a leading mutual microinsurance provider in the Philippines, exemplifies these success factors through its innovative model.

Technology plays a critical role in extending insurance services to low-income communities. In the Philippines, where many live in remote areas, mobile phones have become indispensable tools. Card MBA leverages mobile technology to offer services such as policy management, premium payments, and claim processing through mobile apps and SMS services. This not only increases accessibility but also reduces operational costs, making insurance more affordable for low-income individuals.

Engaging with the community is crucial for building trust and understanding the specific needs of low-income populations. Card MBA invests time and resources into community outreach programs…