19 Jul 2010

Fiji discussions show a lot of interest inn micro-insurance

4:01 pm on 19 July 2010

Plans to develop micro-insurance in Fiji are gaining momentum.

The Pacific Financial Inclusion Programme held discussions with donors, private sector insurers and non-government organisations in Fiji last week.

A technical specialist with the Financial Inclusion Programme, Michael McCaffrey says a key topic was how to meet the demands of 250-thousand people who want, but have no access to micro-insurance.

He says the Programme is now working to overcome concerns there's a lack of networks to deliver the product.

"For example for promoting a product like micro-insurance, the schools or some of the faith-based organisations could actually be great networks. In terms of servicing the product, it's going to be someone more like the post office who has a rural network and more experience with financial products."

Michael McCaffrey says more detailed discussions with insurance companies and potential distributors are to follow.