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Providing self-employed people in Ulaanbaatar with microinsurance product

About the Project
Project start date: 
Dic 2009
20 months (product launched in December 2010)
País de operaciones: 
Project Thematic Focus: 
Insitutional models and business processes


Project Basics

TENGER INSURANCE (‘Tenger’), formerly known as Prime Daatgal insurance and established in 2001, is owned by Tenger Group. Tenger is one of the largest insurance companies in the country. Since 2006 it has pioneered microinsurance to serve low-income families by leveraging its commercial insurance expertise.

Tenger plans to expand its services to low-income herders and microentrepreneurs who are underserved by mainstream financial institutions throughout the country. The project aims to widen the availability and scope of health and accident microinsurance products for this population. The target population comprise of approximately 12,000 urban and rural low-income households, herders and self-employed people dispersed throughout the country who suffer from financial difficulty due to a variety of factors such as lack of education or extreme weather conditions. The project will start with clients living in densely populated areas and then extend to herders in the countryside.

The first phase of pilot project will operate only in Ulaanbaatar, the capital of Mongolia, where about half of the population lives. Although banking and other financial services have become more affordable and accessible for low-income people, appropriate insurance services remain scarce.

Tenger will start by conducting market research to understand the underserved markets. Based on the research results, and with the help of technical advisors from ILO, Tenger will design demand-driven products and build in-house capacity. Tenger will train XB's customer officers to effectively market and distribute microinsurance products. A professional institute will conduct an objective project evaluation after the project has been launched.

Learn more about the "Happy Nation" microinsurance product description 

Date of last Learning Journey update: September 2011