Center for Health Market Innovations (CHMI)

Programs

ParaLife Colombia

last updated Sep 27, 2011

Overview

Implementing organization: 
ParaLife Colombia
Implementation Partner(s): 
ParaLife Mexico
Legal Status: 
Private (unspecified)
Stage: 
Existing/expansion stage
Income Level of Target Population: 
Bottom 20%, 20-60% (lower to lower-middle)

Funding

Funders: 
Accion International, Andean Development Corporation (CAF), Inter-American Development Bank (MIF), The World Bank
Key program components: 

ParaLife offers financial protection solutions for individuals and families in the low income and poor sectors, for micro entrepreneurs and for people with disabilities. They work to improve the quality of life for the underserved majority by providing products and services that are understandable, affordable and easily accessible.

ParaLife partners with companies and organizations, including microfinance institutions, retailers and banks, that share their passion for serving people in the lower income and poor sectors. ParaLife also enters cooperation agreements with local insurance companies who wish to participate in this market through their marketing and insurance portfolio management facilities, supporting them with ParaLife's reinsurance capacity. Their business platform integrates all transactions and service functions, and interfaces with all involved parties in order to provide our customers with efficient and reliable financial protection and savings solutions.

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