Center for Health Market Innovations (CHMI)

Programs

Aseguradora Rural Microinsurance

last updated Mar 26, 2013

Overview

Implementing organization: 
Aseguradora Rural
Implementation Partner(s): 
Banco de Desarollo Rural (Banrural), Empresa Promotora de Servicios de Salud
Legal Status: 
Private (for-profit)
Stage: 
Existing/expansion stage

Funding

Primary Source of Funding: 
Membership/subscription fees

Scale

Number of Clients Served: 
Student health cover reached 20,554 lives as of 2009
Summary: 

Aseguradora 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. They are also working to integrate health microinsurance products with the financial services offered by Banrural to better learn 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.

Program history: 

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.

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