CIF-VIE is a microinsurance company that has rapidly developed into a solid organisation with more than 200,000 customers since its inception in 2013. At that time, BRS had been closely involved in preparing for the launch of this insurance company for five years. The organisation adapts its various products optimally to the needs of customers and wants to offer people with a limited income better social protection. For example, CIF-VIE has a savings product with a school insurance, which provides for payment of the school costs in case of long-term illness or death of the parents.
CIF-VIE falls under CIF (Confédération des Institutions Financières), an umbrella organisation of six cooperative savings and credit institutions and five insurance institutions in five West African countries (Burkina Faso, Togo, Benin, Senegal and Mali). Thanks to the close cooperation with the RCPB (Réseau des Caisses Populaires du Burkina), CIF Vie can offer its products through 800 points of sale to almost 4 million members in rural areas.
What does BRS do?
BRS has supported CIF-VIE Burkina since 2008 through training and coaching in various fields. After the official start in 2013, the emphasis is on practical support in the areas of internal control, marketing and communication and actuarial calculations. One important point of attention is to help to improve the social impact of this company.