Aseguradora Rural Microinsurance
Country of Operation
- Aseguradora RuralFor-profit
SummaryAseguradora Rural, together with Banrural and Empresa Promotora de Servicios de Salud, proposes to implement health microinsurance products that will target different niches of Banrural clients in Guatemala, while learning about how insurance can be linked to savings and credit products.
Key program components
Banrural offers different plans for students, women, the 15-50 year age group, and the 51-64 year age group. All policyholders must be an account holder to purchase an individual voluntary health microinsurance product. The student cover offers cashless healthcare services provided by ASR's partner healthcare network or reimbursement of health expenses in a different healthcare center, ambulance service, hospitalization, and 24 hour medical assistance. As of 2011, parents and tutors are also covered under the student policy in the case of death or permanent disability. The women’s cover includes preventative and curative gynecological services as well as cancer indemnity coverage. EMERGING LESSONS: Covering preventative services, especially gynecological services, can help to reduce overall health expenses for women.
Aseguradora Rural is a small insurer, established in 1999 to operate in both the life and non-life markets. It is fully owned by BANRURAL, a large local bank focused on extending financial services to the rural population of Guatemala. ASR’s strategy is aligned to that of BANRURAL, with the focus being the provision of insurance to the rural market.
Scale: Student health cover reached 20,554 lives as of 2009