Mary Ellen Iskenderian discusses microinsurance product, partnership with Australia

July 2, 2013

A global microfinance institution, specialising in providing women in less developed countries with insurance, has expressed its desire to work with Australian brokers in a bid to access affordable policies for its members.

The Women’s World Bank equips poverty-stricken women with the financial resources to start and sustain their own businesses, as well as helping them access inexpensive insurance policies to fall back on when things go wrong.

The American-headquartered charity provides microfinance pensions, insurance and loans to women in a number of less-developed countries (LDCs), including Benin, Burundi, Bolivia, Brazil, Dominican Republic and Mexico, by putting the products out to tender.

The Australian Government Overseas Aid program has already pledged its support to the organisation and last week held high-level strategy talks with WWB president and CEO MaryEllen Iskenderian, pictured.

Explaining the relationship, Iskenderian, says:  “When we were in Australia a few years ago, it became clear that AusAID was just as concerned about social inclusion as we were.”

Since its inception, WWB has secured microfinance agreements with around 39 banks in 28 countries but Iskenderian stresses to Insurance Business WWB is also keen to work with brokers who might have specialist expertise in finding low-premium insurance policies for women in LDCs.

“We are increasingly working with a broader array of financial operations,” she explains, “as they recognise that microfinance is a real market that can be serviced both responsibly and profitably in less economically developed segments. We work on the premise that people need more than just credit in their financial lives.

Click on the link below to read the full article on Insurance Business Online:  Microinsurance organisation calls for broker involvement