LAHORE: Pakistan Microfinance Network (PMN) and the Microinsurance Network (MiN) jointly organised a two-day workshop on ‘Increasing Access to Inclusive Insurance’ at a local hotel in Lahore. Chairman of the Board of PMN Syed Nadeem Hussain inaugurated the workshop with leaders of the sector in attendance. Mr Nadeem iterated the importance of innovation given the overall low penetration of life and health insurance in Pakistan and the bulk of life and health clubbed with credit products. He also highlighted the importance of creating independent products that go beyond life and health.
MiN Executive Director Ms Katharine Pulvermacher gave an overview of the role of the microinsurance industry globally and within the Pakistani context, highlighting how inclusive insurance can provide the crucial underpinning for the sustainable development. “It is, therefore, an important enabler in the economic and social development of a country and in the achievement of the United Nations’ Sustainable Development Goals (SDGs),” she added.
The panelists highlighted the importance of client awareness and designing simple products that generate value. Founder and Managing Director of Kashf Foundation Ms Roshaneh Zafar explained the rationale for introducing micro-health insurance products.