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ILO Microinsurance Innovation Facility offers 3nd round of grants

Bnamericas Published: Friday, January 23, 2009
The International Labor Organization's (ILO) Microinsurance Innovation Facility has announced a third round of innovation grants to stimulate new ideas about providing better insurance products to low-income households, ILO said in a press release. The facility has two areas of emphasis in this round: small grants and consumer education, although it will accept applications for any project that meets its criteria. ILO said it hopes to provide several small grants under US$100,000 to help organizations start microinsurance activities or test targeted innovations that do not require significant investments as well as support 3-5 consumer education initiatives. Organizations eligible for grants include insurers, delivery channels and other insurance industry actors from different developing countries. The deadline for submissions is March 10. ILO's Microinsurance Innovation Facility - a partnership between ILO and the Bill & Melinda Gates Foundation - launched its two previous innovation grants in April and August 2008.

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