What’s The ‘Why’ Of Microinsurance Master?

What’s The ‘Why’ Of Microinsurance Master?

In one of the most viewed TED talks ever, Simon Sinek makes a strong call that it is not what you do, but why you do it that matters most to your clients, employees, and partners.

His 2009 book, Start With Why: How Great Leaders Inspire Everyone to Take Action, went on to become an international bestseller.

Sinek argues that most organisations communicate first about their what – the product or service – which is an ‘outside-in’ approach.

The most inspiring business leaders, he argues, start with an ‘inside-out’ approach – the why precedes the what.

This is essentially your purpose for being in business, your values, and your beliefs that sit behind the products and services you provide. It’s what really connects to people: they relate to the why of your business more than the what.

Apple’s iPhone illustrates this well. What really grabs people is not so much the features of the iPhone, though they’re important. It’s the attitude of Apple in thinking differently and pushing the boundaries that people really love; the sense of exclusivity. And this is the ‘secret sauce’ behind their success.

The ‘why’ of Microinsurance Master

Pioneer Microinsurance staff in dialogue with a customer

Microinsurance in itself is a purpose-driven business. Providers strive to reduce the vulnerability of poor communities around the globe.

Developing a microinsurance business is no simple journey. Microinsurance challenges us to ‘rethink’ insurance and to build it from the ground up again – with products and partnerships that are new and might feel a little awkward at first. There are some unique challenges to solve too – such as achieving the fast claim settlements that are required to provide value for the insured.

Organisations without a strong purpose might pull aside from the sector as soon as they encounter the inevitable obstacles on the microinsurance road.

Because it is so challenging, it’s important to understand your why, so that when the going gets tough you remain aligned to your overall objective and don’t stray off-track. It’s been shown by the most successful microinsurers that having a long-term market development vision nurtures the patience to overcome the early obstacles and to persevere in the right direction.

Many organisations strive for the latter but are searching for effective approaches to uplift their activities.

At Microinsurance Master, we celebrate the heroes that have taken up this courageous challenge.

We’re serious about helping microinsurers to grow and reduce the vulnerability of low-income people around the world.

We want to inspire and strengthen microinsurance leaders. We believe that, by doing this, their organisations, the sector as a whole and, in particular, microinsurance beneficiaries will all thrive. That’s why we’ve teamed up with industry leaders like Pioneer Microinsurance, ILO’s Impact Insurance Facility and Microinsurance Centre, to create Microinsurance Master.

In our 10-week leadership programme, we focus on purpose-driven leadership and client-centric solutions that reduce the vulnerability of low-income people, making microinsurance businesses thrive.

What’s your why?

concept drawing on the whiteboard

So, what is your why? Do you have a clear north star that guides your steps on the microinsurance road?

The better you crystalize your vision, the easier it will be to make day-to-day decisions about the direction you want to take.

Is your vision clear and are you one of those microinsurance leaders that are on the lookout for further inspiration, insights, and tools to make your business thrive?

We would love to hear from you!

If you are serious about making your microinsurance activities thrive, join the Microinsurance Master programme.

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