Mumbai Jesuits design insurance for migrants
Dec. 1, 2013
The Xavier Institute of Management and Research, (XIMR) in Mumbai has designed a unique financial solution to help migrant tribal people in Mumbai, India's financial capital.
The scheme, designed in collaboration with the Chotanagpur Migrant Tribal Development (CMTD) Network and Mumbai-based Jesuit social center Seva Niketan, is expected to help over. 20,000 migrant tribal people from Jharkhand, Chhattisgarh, Orissa and West Bengal live in Mumbai.
"It is running a pilot project to encourage monthly savings, incentivizing them with medical and health insurance for their family members," said press release from XIMR director Father Paul Vaz. The post–pilot ecosystem will consist of banks, insurance and healthcare companies, it said.
"The business solution is built on the premise that the livelihood of people at the bottom of the pyramid improves when they get access to finance," Father Vaz explained.
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