Product Design at Uplift is a stage wise process.It designs product based on historical data from its MIS (done and validated by Actuaries) and designs two to three contribution and benefit options for the community in question.
These options are then taken to members and discussed with them extensively before finalizing the most voted option.
Uplift has designed various prototypes for the Health Mutual product keeping in mind the operational design of its partner MIU's.
Loan Length based Health Mutual Product: Offered through micro credit, this product period matches the loan length thereby giving the option to the MFI to manage its operations concurrently.
Health Loan financed Mutual Product : To manage the cashless issue not offered under Mutuals, Uplift has designed a Health Loan financed Mutual product where a member is provided with an immediate loan at the time of admission. The product works as Mutual if the claim of the patient is passed by the Benefits committee otherwise it serves as a normal loan to be repaid.
Thrift financed Health Mutual Product: Uplift is currently in the process of designing thrift financed Health Mutual product to allow Non MFI's and MFI's not willing to bundle it with micro credit offer the Health Mutual product to their Members.
This component is supported by a competitive grant received from the ILO Micro Insurance Innovation Facility.