Nanay, meaning “mother” in English, holds deep cultural significance in the Philippines, symbolizing unconditional love and care. This maternal spirit has extended into the microinsurance industry through CARD Pioneer Microinsurance Inc. (CPMI).
CPMI recently launched “Covering Nanay: The Philippine Microinsurance Journey,” showcasing the partnership between CARD MRI and Pioneer Insurance, and highlighting the Nanay agents’ pivotal role in transforming the industry.
The book, authored by CPMI founders Dr. Aristotle Alip, Lorenzo Chan Jr., and Pia Yupangco, details CPMI’s journey from inception to nearly 24 million enrollments.
Established in 2013, CPMI is a joint venture between CARD MRI and Pioneer Insurance, addressing health, accident, property, agriculture, and income loss issues for the low-income sector.
Chan, also the chair of the Microinsurance Network, was inspired to create microinsurance after seeing small sachet products in sari-sari stores. “Why not offer insurance in affordable chunks?” he thought. This led to the partnership with CARD MRI.
Alip, under whose leadership CARD MRI won the Ramon Magsaysay Award for Public Service in 2008, emphasized the importance of the 1-3-5 claims process (one day to pay the policyholder, three days to resolve issues, and five days to finalize the payout). This approach built trust among the Nanays and their clients.
Yupangco shared that writing the book gave her hope for the country, seeing persistent businessmen and empowered women changing lives through microinsurance. She highlighted the stories of Nanays Lota Siasat, Mary Jane Galleno, and Reynalyn Velasquez, who read excerpts at the book launch in Bonifacio Global City.
Siasat aims to inspire her Microinsurance Coordinators to progress in their roles. Galleno shared a story of a grateful client whose family benefited from a secret insurance policy. Velasquez recounted a story of respect earned from families who benefited from CPMI coverage after a tragic accident.
“Covering Nanay: The Philippine Microinsurance Journey” is now a bestseller and available at select Fully Booked outlets.
