Country of Operation
- Self Employed Women's Association (SEWA)Not-for-profit
Target income level
- Bottom 20%
- Lower-middle income (20-40%)
- Middle-income (40-60%)
SummaryVimo SEWA is an integrated insurance program aiming to provide social protection for members of the Self Employed Women's Association (SEWA) to cover their life cycle needs through an insurance organisation in which they themselves are users, owners and managers of all services.
SEWA's Insurance Program started in the early 1990's to provide social protection to its members. Initially, life insurance was offered to SEWA members through the Life Insurance Corporation (LIC), a public sector insurance company. However, it was clear that SEWA members required a more comprehensive and integrated insurance package as a buffer against the multiple risks and crises they face in their everyday lives.
Key program components
SEWA's Integrated Social Security Scheme was initiated in 1992 and offers various integrated insurance pakcages, which include coverage for life, asset loss, widowhood, personal accident, sickness and maternity benefits. The packages have varying levels of premium and corresponding sums insured. In this scheme each member contributes a very low premium towards the coverage offered, making her responsible for securing her own future with the organization's assistance and reflecting Vimo SEWA's motto, "Helping the members to help themselves."
SEWA members are approached and educated on insurance by aagewans (local leaders) of various SEWA teams, for example, health and SEWA Bank. They conduct area meetings and speak about insurance for women workers. Pamphlets of the scheme are distributed amongst members and basic information is provided. The key selling points for Vimo SEWA's package are:
- Area Leaders (Aagewans)
- Unique life and non-life package for unorganized sector
- Service at doorstep
- Family coverage for complete security
- Child insurance - unique health cover
Vimo SEWA aims to have sound insurance principles. Insurance products are priced with a margin for reserves and contingencies. All policy provisions are modeled on the basis of policies that are in longstanding use by leading Indian insurance companies. A chartered accounting firm audits SEWA Insurance each year and works closely with management all year round. A consulting actuary also provides ongoing services to ensure that SEWA Insurance steadily moves towards financial viability
In 2002, medical insurance for husbands of members was added to the scheme, and in 2003, the scheme extended health insurance cover to member's children. As of January 2010, 119,477 individuals (62,060 women, 36,258 husbands and 21,159 children) were insured under the scheme in both urban and rural areas. All insured members contribute premium to the scheme. Between 1992 and 2008, 65953 claimants have received benefits during the crises in their lives with a total pay out of Rs 126 million.