The Lebanese Micro Finance Association, in collaboration with USAID, and SANAD technical assistance facility, held a two-days conference about “Micro Insurance Product Development in Lebanon, on July 3rd, at Monroe Hotel Beirut, in which Makhzoumi Foundation’s Micro Credit program participated, along with many other micro crediting associations.
The conference aimed to have concrete action plans for implementing the next steps of product development: prototype testing.
The participants engaged in detailed conversation around potential micro insurance products, received training on capacity building on key micro insurance product development, and gathered additional information and industry perspectives to finalize the prototype testing
Different sessions were conducted, including discussions and explanations about micro insurance products, and the enhancement of the potential successful products, following the SUAVE Checklist (Simple, Understood, Accessible, Valuable, Efficient).
The sessions were conducted by the moderator Michael McCord, from Micro Insurance Center at Milliman, a consulting firm dedicated to generating access to valuable micro insurance products.