P&D Network sends combined mission to Georgian MFI Crystal.

14-Oct-2010    Between August 30 and September 3, a combined delegation of the Pension & Development Network and the Micro Insurance Association Netherlands (MIAN), visited the headquarters of the MFI Crystal in Georgia.

The origin of this visit lies in the initial contact between the P&D Network and Crystal, in which Crystal requested assistance from the P&D Network and MIAN in the process of developing and implementing a micro-insurance product. The goal of this combined delegation’s visit was to provide a quick-scan on Crystal’s possibilities for entering the Georgian insurance market by offering their clients a micro insurance product which would combine excellent risk coverage with low premium installment and contain a savings and / or pension element.

During the 5 days visit, besides meeting with Crystal representatives, Mr. Boudewijn Sterk (P&D Network) and Mr. Ton Merks (MIAN) held interviews with the Georgian Insurance Association, an extensive list of professionals and executives from the insurance sector, government officials, professionals from different micro finance organizations, representatives of international development organizations, the Dutch ambassador, the First Lady of Georgia and several of Crystal’s clients, in order to get a clear view of the Georgian economy, society, culture and insurance market. 
During the second half of the visit, the delegation was joined by Ms. Lisa Beichl, who represented the Micro Insurance Innovation Facility of the International Labour Organization. Together with Ms. Beichl, an analysis of the operational and technical capacity of Crystal was made. As an expert in health insurance and healthcare strategies, Ms. Beichl provided valuable insights into the Georgian health insurance market.
Based on the gathered information, the delegation concluded there is strong demand amongst Crystal’s clients for a health and/or agriculture insurance product in Georgia. The P&D Network and MIAN have designed a strategy for Crystal on how to enter the Georgian insurance market.
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