Jasper R.

Indangan
BSA- 1st Year - Block 1
Microfinance and Development
Week 9-10

Application Activity: 1-3-5 Day Target in Claims Settlement

Answer: CARD - MBA’s claim settlement strategy aimed to ensure that its members,
some of the poorest people in the country, have the money they need immediately
after suffering an unfortunate event. It was based on the following instances:

1 - If the dead body is not yet buried at the time of validation, the claim must be
settled within 24 hours.
3 - It needs 3 days to pass all the documents
5 - In the fifth day, the claims can be claimed.

Self-Reflection Activity: About the Biggest Role of Micro-insurance (10 sentences)

One of the services and products offered by microfinance institutions is micro-

insurance. Micro-insurance, as discussed in the module, helps protect the gains of
the clients from microfinance operation and it is another weapon for poverty
alleviation. It gives the low income earner with the means to protect themselves
against the effects of risk. Therefore it must be viewed alongside with government
provision of basic health services, employment and education and the likes which go
towards alleviating poverty. However, there are so many people today who were
uninsured or inadequately insured from risks. In addition, micro-insurance is tailored
to those lower valued assets and compensation for illness, injury or death. I think
one of the biggest role of micro-insurance is that it mostly covers individuals without
retirement savings or adults who are low income earner. It is very much important to
have access to micro-insurance for it includes both health risks and property risks.
Some of this include crop insurance, cattle insurance, fire, death and all other which
is very beneficial. Also, it allow you to avoid paying the full cost of replacing,
repairing, rebuilding or restoring valuable things if they are lost, stolen, damaged or
destroyed. I also means that we could avoid paying large amounts and ending up
with huge debts. These are basically the important roles of Micro-insurance.
Application Activity: “CARD MRI is a great example of a Social Business or Social
Enterprise”
1. Strongly Agree
2. Agree
3. Strongly Disagree

Answer: I strongly agree because social enterprise models as client-partners are

exemplified in CARD MRI by providing financial and social protection services. Based
merely from its mission, it aims to provide social and financial services to
economically and socially-challenged individuals and households. CARD MRI had
outreached poor women and co-manage their enterprises and it will continue to
outreach and help more poor women.

ESSAY: How to ensure that a Microfinance Institution such as CARD MRI can
maintain its status as a SOCIAL BUSINESS or Social Enterprise.

Answer: According to Inquirer.net, most of the social enterprises face the same
problems in terms of viability and sustainability as SMEs, such as access to financing
and markets. In addition , they face more difficult challenge of ensuring that they
resolve these through creative strategies in pursuit of their social mission. However,
social enterprises succeed by pursuing innovative business models as exemplified by
CARD MRI. Social Enterprises must be updated to the changing economy and
markets today. As the financial sector adopts to modernization and technology, they
should innovate their services too to still be on track.