1. Microinsurance The Jordanian Experience Mazen A. Nimri FCII FLMI Deputy GM / Life and Medical Dep. Increasing Resilience through Hospitalization Coverage: Case Studies from the Middle East and Africa

2. Jordan Located in the Heart of the Middle East Small country, Big ambitions Mazen A. Nimri FCII FLMI Deputy GM / Life and Medical Dep.

3. Oldest Insurance Company in Jordan 1951 Composite Insurer (Life and Non-life) Highest paid up capital in Jordan JD 30 million (USD 42 million) Headquartered in Jordan with Regional Branches in UAE and Kuwait 10% Ownership by Munich Re Technical team of experts Rated by AM Best (FSR B++/ICR bbb+)

5. Microinsurance Strategic Partnership with MFW

6. – Trust – Transparency – Commitment – Utmost good faith Risk Transfer Mechanism – JIC covers the loan plus an additional amount in case of death/disability – Sustainability of the MFW operations Social Participation – Commitment to elevating social standards Economic Support – Support the community and economy Microinsurance Mazen A. Nimri FCII FLMI Deputy GM / Life and Medical Dep.

7. New Market Segment Penetration – Non-conventional target market New Experience – Wealth of knowledge – New Products – Different Procedures Profits / Pricing? – High Loss ratios – Price adjustments based on experience – Benefits enhancements (Spouse Insurance) Microinsurance Mazen A. Nimri FCII FLMI Deputy GM / Life and Medical Dep. Sponsorships Very Important for spreading insurance awareness Radio + TV Ads Brochures and Flyers

8. Very minimal procedures – No Underwriting – experience driven – Efficient Premium collections – Speedy Claims Settlements – Easy Accounts reconciliation Claims Authority Transfer to MFW – Efficiency – Accuracy – Popper follow up – Valued Partnership - Trust Procedures Mazen A. Nimri FCII FLMI Deputy GM / Life and Medical Dep.

9. Product Development Term Life (Life of borrower) Pay Loan Amount Pay Additional Amount to Beneficiaries Term Life (Life of SPOUSE) Pay a Lump Sum Amount to Borrower

10. Riaya “Care Giver”

11. Hospital Cash (borrower) Pay Lump Sum Amount per night stay at Hospital Hospital Cash (Dependants- Spouse and Children) Pay Lump Sum Amount per night stay at Hospital Riaya

12. No Underwriting or pre-medical exams Up to 48 nights Affordable PremiumMinimal Exclusions $21 / night spent @ Hospital Riaya Mazen A. Nimri FCII FLMI Deputy GM / Life and Medical Dep.

13. Develop the product for the right reason (serving your client) Use pilot program to validate the product Keep a close eye on your indicators Keep it simple Riaya Mazen A. Nimri FCII FLMI Deputy GM / Life and Medical Dep.

14. Riaya

16. Mazen A. Nimri FCII FLMI Deputy GM / Life and Medical Dep.

17. Riaya / Admission Reasons

18. Private 8% Military 20% Public 72% Type of hospital Riaya Mazen A. Nimri FCII FLMI Deputy GM / Life and Medical Dep.

19. Average Claim frequency JIC / MFWMinistry of health 7.54%13.9% Fraud less than 2% Average Hospital stay JIC / MFWMinistry of health 3.62.3 Mazen A. Nimri FCII FLMI Deputy GM / Life and Medical Dep. Premium Monthly $1 -$1.5

20. WIN WIN WIN InsurerMFI Client Mazen A. Nimri FCII FLMI Deputy GM / Life and Medical Dep.

21. Thank You Mazen A. Nimri FCII FLMI Deputy GM / Life and Medical Dep. mnimri@jicjo.com