SCIO designed and implemented a micro-insurance product for the microfinance institution Village Exchange Ghana. This product helped the MFI reduce the risk of default and its associated negative consequences. Should the breadwinner of the family pass away, the microinsurance payout enables its benefactors to fulfill loan repayment, have a graceful end to a graceful life, and provide welfare for their dependents to continue to meet education or business needs. In March 2011, six students from Tepper and Heinz School went to Ghana to visit the client and deliver the product.
Key Deliverables for the Micro-insurance Project:
SCIO worked with a host of organizations in Ghana to develop a microinsurance manual. The manual is a comprehensive resource that equipped fledgling microinsurance organizations with information on how to integrate microinsurance products into their portfolios. Towards the end of the year, SCIO also engaged Village Exchange Ghana (VEG), the client for the following year.
Milestones for the project throughout the year included:
SCIO aimed to improve employment and lack of tourism to Katapatthar, India by converting an abandoned King's Palace into a fully functioning traveler's lodge.
The "Panama Brigades" project was the seedling of SCIO. With this project, 80 students offered consulting services to four distinct businesses in the impoverished communities of Panama. The businesses included an orchid farm, a cobbler shop, a tourist shop, and an orphanage.
At the end of a year-long engagement, which included a one-week trek to Panama, the teams:
The solutions that were implemented were chosen and pursued due to their long-term sustainability and positive impact on the businesses and the community that each business supported.