Deadline: 20 February 2016
Sakchyam is inviting all interested Insurance Companies (IC) to submit full applications for the design, development and rollout of innovative Micro-Insurance products covering both life and non-life insurance products to enrich the insurance services for the un/underserved rural poor, women, youth and members of Disadvantaged Groups (DAGs) in Nepal.
Micro Insurance Products has been issued by Sakchyam Access to Finance Programme following an Industry Roundtable on New Micro-Insurance Products Being Introduced in Nepal.
The objective of this program is to solicit proposals and Full Applications from Insurance Companies who aspire to design, develop, and launch new Micro Insurance products and services to expand their outreach to the rural, remote and unserved districts of Nepal. Rugged terrain, difficult land topography, sparse settlements, little or no physical infrastructure to facilitate mobility, non monetized local economy and vicious circle of poverty are some of the major hurdles leading to financial exclusion in Nepal.
Eligibility Criteria
- All Insurance companies legally registered and operating in Nepal are encouraged to submit their proposals.
- Sakchyam also encourages Insurance companies to partner with technology platform providers to propose technology based Micro-Insurance products and services.
- Insurance Companies that do not currently have presence within the stated geographic areas are required to demonstrate willingness and a detailed plan to expand their operations sustainably in those areas with the help of Sakchyam.
For application details and more, please visit Sakchyam Challenge Fund.
