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IRIS+ and Microinsurance Network (MIN)

Original alignment date: 2012

Metrics focused on social and financial impact of microinsurance products, with market-based feedback provided by LeapFrog Investments, through their FIIRM framework.

Individual IRIS metrics have been mapped to the Microinsurance Network Social and Financial Performance Indicators, with market-based feedback provided by LeapFrog Investments through their FIIRM framework.

The Microinsurance Network promotes the development and delivery of effective insurance services for low-income people by encouraging shared learning, facilitating knowledge generation and dissemination, and providing a multi-stakeholder platform. The Network has over 70 institutional members representing over 200 microinsurance experts in 12 different working and discussion groups.

The Microinsurance Network’s Performance Working Group defined a set of financial key performance indicators in 2006, complemented in 2012 by a set of social performance indicators. The key performance indicators (KPIs) were established by a diverse group of microinsurance practitioners, and are applicable to microinsurance providers, irrespective of legal structure, environment, organizational setup and type of microinsurance product offered, although there may be some differences in performance and interpretation.