Salient Features

Micro Insurance Service

To ensure on-time and quality Insurance Services of its members, Asasah has insurance product for Borrower and spouse.

In the start of Asasah only borrowed insured for credit. Credit Insurance gives coverage on death and disability of Borrower.
2011 Asasah Start Health Insurance for borrower Asasah is serving caters to health needs of clients.
To provide the Asasah client a clear benefit to protect them and provide them and provide them quality treatment in case of sickness and accident.

Following distinct features of the product make it deal for a poor household:

Features:-

i) Health Insurance Cards:-

A Health Insurance card will be issued to each couple.

ii) 24 Hour Emergency helpline:

Insured can directly call on these numbers for help in medical emergency or in case of any problem

iii) Cashless Facility

A huge network of prefaced provider network hospital (PPN) all over Asasah Area’s.

iv) Health Camp

Medical camps are arranged on quarterly basis

v) Reimbursement

In case of use Non-panel Hospital Expenses will be reimbursement

Benefit

Borrow and spouse

Inpatient benefit would be covered up to a minimum limited of Rs. 50,000/- for each per annum.

Life Insurance

Death coverage

Covered Outstanding loan balance

Funeral Expense

PKR, 5000/-

Permanent Total Disability

Insured borrower is classified as being totally disable, the full amount of loan outstanding loan will be paid.

Updates Start to till February, 2013

Insured	Credit	Health
	92,183	15,154
Received No of Claims	940	181
Claimed Amount	10,201,166	31,88,258
Staff Trained Insurance		100 percent
Awareness Session Conducted		70
Participants of Awareness Session		1300
Free Health Camps Organized		5 (Lahore, Kasur, Mutlan, Vehari)

Poverty Targeting

Capitalizing opportunity provided by plan Pakistan, Asasah had conducted a survey to measure the likelihood of poverty among its existing members by employing a poverty measurement tool, Progress Out of Poverty Index (PPI). Learning of this exercise convinced us to institutionalize the PPI as a 'Targeting Tool' despite using it as a 'Measurement' tool. This helps us determining and suggesting the applicant household the suitable financial and non-financial product/service.

Microfinance on the Principles of Islam

Islam emphasized on a financial system that is free from exploitation, promotes equitable distribution of wealth and clean source of income, for example. Experimenting the principles of Islamic Financial system, Asasah has ventured to pilot test Islamic mode of Microfinance in one of its branches. The products and he service delivery mechanism of Asasah's Islamic Microfinance is based on Shariah Compliance, certified by Islamic Scholars as well.

Branchless Microfinance

Asasah has launched Branchless Banking with the support of the State Bank of Pakistan's Institutional Strengthening Fund. The objectives of Asasah's Initiative on Branchless Microfinance for the Poor Household are to reduce transaction costs of the poor borrowers, decrease time and costs of service delivery and to educate the poor in using technology in financial sector.