Privacy statement
Your privacy is important to us, and we believe it is important for you to know what personal data we, MIIH FOUNDATION (“MICROINSURANCE INNOVATION HUB” or “we”), collect from you (and third parties), why we collect it, how we use it and what rights you might be entitled to as a data subject or consumer.
Please note: all information in this privacy notice is applicable to you unless otherwise indicated based on your residency status. For the additional terms which may be applicable to you based on your residency status, please refer to your country-specific terms at the end of this notice. In this notice, term “personal data” is used to represent any information relating to an identified or identifiable person; country-specific notices might adopt a different terminology.
How we respect privacy when we deal with personal information collected by our organisation.
This Privacy Statement applies to data we, MIIH FOUNDATION (MICRONSURE INNOVATION HUB), collect about individuals who interact with our organisation. It explains what personal data we collect and how we use it. Personal data is defined as:
“any information relating to an identified or identifiable natural person ('data subject'); an identifiable natural person is one who can be identified, directly or indirectly, in particular by reference to an identifier such as a name, an identification number, location data, an online identifier or to one or more factors specific to the physical, physiological, genetic, mental, economic, cultural or social identity of that natural person”.
If you have any questions or comments about this notice, feel free to contact us at _________________________.
1. Personal data that we process
The following table explains the types of data we collect and the legal basis, under current data protection legislation, on which this data is processed.
| Purpose | Data (key elements) | Legal basis |
|---|---|---|
| Enquiring about our organisation and its work | Name, email, message | Legitimate interests – it is necessary for us to read and store your message so that we can respond in the way you would expect. |
| Subscribing to email updates about our work (e.g. newsletter) | Name, email | Consent – you have given your active consent. |
| Keeping members updated | Name, email | Consent – by becoming a member, you have given your active consent to receive email updates sent to members of the Network. |
| Receiving or making payments | Name, email, address, payment information | Legitimate interests – this information is necessary for us to process payments. |
| Signing up as a member | Name, email, address, organisation | Contract – by paying your membership fees you have entered into a contractual relationship with us as set out in our Articles of Association (Bylaws). |
| Website functionality | Website activity collected through cookies | Legitimate interests – it is necessary for us to store a small amount of information, usually through cookies, to deliver functionality that you would expect, such as remembering the contents of form submission before you have fully completed the process. |
2. How we use your data
We will only use your data in a manner that is appropriate considering the basis on which that data was collected, as set out in the table at the top of this privacy statement.
For example, we may use your personal information to:
- reply to enquiries you send to us;
- handle donations or other transactions that you initiate;
- where you have specifically agreed to this (e.g. by becoming a member), send you email updates and invitations to events relating to our work which we think may be of interest to you.
3. When we share your data
We will only pass your data to third parties in the following circumstances:
- you have provided your explicit consent for us to pass data to a named third party;
- we are using a third party purely for the purpose of processing data on our behalf and we have in place a data processing agreement with that third party that fulfils our legal obligations in relation to the use of the third party data processors; or
- we are required by law to share your data.
We may share your personal data with third parties where required by law, where it is necessary for one of the activities mentioned above or where we have another legitimate legal basis in doing so. We require third parties to respect the security of your data and to treat it in accordance with the law.
Please note, MIIH Foundation has not in the past, nor does it currently, under any circumstances sell your personal data to any third party. Further, MIIH does not share your personal data with third parties for any additional purpose (as stated above) unless required to fulfill a legal obligation or a legitimate business purpose where permitted by law.
4. How long we keep your data
We have put in place appropriate technical, organizational and security measures to prevent your personal data from being accidentally lost, used or accessed in an unauthorized way, altered or disclosed. In addition, we limit access to your personal data to those employees, agents, contractors and other third parties who have a business need to know. They will only process your personal data on our instructions and they are subject to a duty of confidentiality.
We have put in place procedures to deal with any suspected data security breach and will notify you and any applicable regulator of a suspected breach where we are legally required to do so.
5. Rights you have over your data
You have a range of rights over your data, which include the following:
- Where data processing is based on consent, you may revoke this consent at any time and we will make it as easy as possible for you to do this (for example by putting ‘unsubscribe’ links at the bottom of all our marketing emails).
- You have the right to ask for rectification and/or deletion of your information (“right to be forgotten”).
- You have the right of access to your information.
If you would like to access the rights listed above, or any other legal rights you have over your data under current legislation, please get in touch with us.
Please note that relying on some of these rights, such as the right to deleting your data, will make it impossible for us to continue to deliver some services to you. However, where possible we will always try to allow the maximum access to your rights while continuing to deliver as many services to you as possible.
6. Cookies & usage tracking
A cookie is a small file of letters and numbers that is downloaded on to your computer when you visit a website. Cookies are used by many websites and can do a number of things, eg remembering your preferences, recording what you have put in your shopping basket, and counting the number of people looking at a website
We may combine data from publicly available sources, and from our different e-mail, website, and personal interactions with you (this includes information collected across our different websites such as our careers and corporate sites and information collected when you sign-up or log on to our sites or connect to our sites using your social media credentials (such as LinkedIn). We combine this data to better assess your experience with MIIH Foundation and to perform the other activities described throughout our privacy policy.
Please bear in mind that deleting and blocking cookies may have an impact on your user experience
7. Modifications
We may modify this Privacy Statement from time to time and will publish the most current version on our website. If a modification meaningfully reduces your rights, we'll notify people whose personal data we hold and who are affected.
MIIH FOUNDATION Rules and Regulations
Acronym: MIIH (Microinsurance Innovation Hub)
Non-profit Foundation / Foundation
Registered office: H. No-1-98/21/B, Flat 5A, TR Square, Jai Hind Gandhi Road, Madhapur, Hyderabad, Madhapur Shaikpet Hyderabad TG 500081 IN
Title 1 – Denomination, Mission, Object, Principle, Registered Office, Duration
Article 1 – Denomination
The Foundation with the name “MIIH FOUNDATION,” a non-profit organisation (Foundation sans but Section 8 Company) whose acronym is “MIIH”. The Foundation is governed by the articles of association, concerning Section 8 company as per the Indian companies act 2013.
Article 2 – Mission
The Foundation’s mission is to promote 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.
It was established in 2024 as the SECTION 8 COMPANY Working Group on Microinsurance by donor
organisations, multilateral agencies and other interested parties that are involved in the
promotion and support of microinsurance mainly in developing countries.
To accommodate the expansion of interests and activities in microinsurance and the inclusion of
additional stakeholders, the Working Group evolved into the Foundation. The Foundation is
strengthening its membership, organisational and governance structure to better fulfil its role
as the key dialogue platform for microinsurance.
The Foundation seeks to remain a member-based network of insurance and social protection
providers, policymakers, funders and academics.
The Foundation is governed by a Board of Directors and a Chair and is managed by a Secretariat
with several working groups.
The Foundation works in partnership with industry organisations in various disciplines and keeps
low-income and poor people at the centre of all its activities.
The Foundation prioritises work and actions that meet clients’ needs and protects their
interests and well-being.
The Foundation facilitates information exchange and stakeholder coordination to increase the
availability and impact of microinsurance as a risk management tool for vulnerable populations
by creating information that is available to the public.
Article 3 – Objectives, Principles
The Foundation’s objectives are to:
In this regard, the Foundation will also be able to define partnerships on a national level and on an international level with any Foundation or organisation that may have a similar mission and objectives. The Foundation shall be able to pass any legal act in relation to its mission.
Members of the Foundation commit themselves to:
The Foundation may acquire or rent buildings and/or take on staff, for the purposes of its mission and objectives.
Article 4 – Registered office – Official Language
The Foundation has its registered office at H. No-1-98/21/B, Flat 5A, TR Square, Jai Hind Gandhi Road, Madhapur, Hyderabad, Madhapur Shaikpet Hyderabad TG 500081 IN. The official and working language of the Foundation is English and local language.
Title 2 – Members
Article 6 – Description
Any physical or legal person who is involved in the promotion of microinsurance and develops an activity in accordance with the Foundation’s mission and objectives can become a member.
The Foundation cannot have less than two (2) members.
Organisations and individuals can apply to become members of the Foundation. They can include funders, technical assistance providers, networks, researchers, providers, and others committed to contributing to the creation of public goods.
The membership is open to organisations and individuals who respond to the above mentioned criteria and who pay the annual fees. The Foundation is not allowed to discriminate and should respect this principle and provide the freedom of conscience for all its members.
There are two membership categories: Primary Membership, Affiliate Membership, Honorary Membership, Student Membership.
Organisations or individuals sponsored by an organisation wishing to become members should state their interest by completing the online application process.
Members shall not use the Foundation to pursue commercial or other interests for their own benefit or for that of their organisation. They should abstain from participating in the Foundation’s decisions or activities that may constitute an unfair advantage for competitively bid work or which represent an actual or possible conflict of interest. Any appearance of an actual or possible conflict of interest matter related to a specific member may be discussed by the Board of Directors’ in order to find a resolution.
Article 7 – Admission
The admission of members is subject to explicit confirmation of their commitment to the vision and mission of the MIIH Foundation. The process of admitting new members falls within the mandate of the Secretariat, who undertakes to inform the Board of membership changes at Board meetings and inform the general membership of membership changes at the General Meeting. New members are validated by the General Meeting once a year but enjoy the full benefits of membership services as soon as the Secretariat has approved their application.
Membership renewal is automatic by payment of the annual fee unless written notification has been received the previous year – see Article 9.
Article 8 –Contributions
The members are required to pay an annual fee of Rs 25,000(INR Twenty-Five Thousand Only) for Primary Membership and Rs 10,000(INR Ten Thousand Only) for Affiliate Membership
Amendments to the membership fee may be suggested by at least two (2) members of the Board of Directors and shall be Put in General Meeting after simple majority voting of the Board of Directors and finally approval in the General Meeting.
Article 9 – Termination of membership
Members intending to terminate their membership must give formal written notice of this intention to the Secretariat no later than 30 September of the previous year. Failing this, they will be liable for the full year of membership fees.
The Secretariat reserves the right to suspend any member’s access to member benefits should the annual fee not be settled in full within 90 days of the date the invoice is sent to the member.
The Board of Directors may propose to terminate the membership of members who refuse to adhere to the present statutes or to the decisions taken by the Foundation.
Once the Board of Directors has proposed to terminate a membership in this way, and once the General Meeting has approved such a proposal, the membership in question will be automatically terminated and the social functions of the member in question will be automatically suspended and the member will no longer be able to use the services of the Foundation.
Members whose membership has been terminated are not entitled to any part of the social assets, nor to any fee reimbursement.
The fees paid by individual members who, during the course of a membership year, choose to upgrade their membership to other grade of membership, may be offset against the fees due for institutional members.
Article 10 – Resignation
Members can resign at any time from the Foundation by notifying the Secretariat in writing; the Secretariat will in turn inform the Board of Directors.
The resigned member is not entitled to any part of the social assets, nor to any fee reimbursement.
Title 3 – Ordinary and Extraordinary General Meeting
Article 11 – Composition
The General Meeting is composed of all members of the Foundation.
It is presided over by the Chair of the Board of Directors or otherwise by the Vice-chair.
An ordinary General Meeting will be held once a year. Members will be notified in writing before the Meeting about the date, time, venue, and agenda. Although, organisations can have several members attending the General Meeting, only one member will represent the organisation and carry out the vote. It is left to the organisation to decide who will carry out the vote.
If different units or departments of the same organisation are members of the Foundation and have paid separate membership fees, the different units or departments will have a right to vote. Voting can also be carried out by proxy or electronic voting. The quorum of votes consists of 1/3rd or two of institutional members in good standing, "except for the amendment of the statutes or dissolution of the Foundation for which a quorum of 2/3 is needed".
Article 12 – Competences
The agenda of the annual General Meeting should include:
The ordinary General Meeting’s exclusive competences are:
Fall within the exclusive competence of the Extraordinary General Meeting:
Article 13 – Meeting and Notice
The General Meeting shall meet at least once a year, at a date and time fixed by the Board of Directors.
The notice shall be given at least fifteen (15) days prior to the fixed date, by post or email and shall include the agenda.
Article 14 – Agenda
Every written proposal to the agenda shall be signed by at least two (2) different members featured on the last annual list and on the agenda, and any proposal signed by at least one-twentieth (1/20) of the members, must be put on the agenda.
Article 15 – Notice
If necessary, the Board of Directors may convene at time an Extraordinary General Meeting. The Board of Directors may convene other meetings for the interest of the Foundation.
The Board of Directors is bound to convene an Extraordinary General Meeting upon the request of one-fifth (1/5) or 20% of the institutional members in good standing.
Article 16 – Decision-making process
The composition of a Meeting is valid if a majority of institutional members in good standing is present or represented.
Decisions are taken by simple majority vote by institutional members in good standing who are present or represented, except decisions regarding the exclusion of an Foundation member and amendments to the articles of incorporation, which requires a two-third (2/3) majority; this two-third majority applies to the institutional members in good standing who are present or represented at the General Meeting of members, along with the quorum specified in Article 11.
Institutional members in good standing who are unable to participate in a General Meeting can be represented via a written proxy given to a member of their choice. Members may participate in and/or vote during the General Meeting in person and/or via conference call, electronic medium or through a combination of these methods.
If the voting result is tied, the Chair or his/her substitute will have the casting vote.
Article 17 – Resolution
Members and third parties will be notified of the General Meeting’s resolutions by post or by email, in the form of minutes signed by the Chair and the Vice-chair and will be kept in a register at the registered office of the Foundation at the disposal of all members and third parties.
Title 4 – Board of Directors
Article 18 – Composition
The Foundation is administrated by a Board of Directors, consisting of at least Two (2) but no more than Fifteen (15) members, including the Chair. The Board members are elected for a term of Five (5) years and can be re-elected any number of times.
The Board of Directors has a Chair, elected by the General Meeting, and appoints a Vice chair. The secretarial functions of the Board are fulfilled by the Secretariat.
Board members serve on one of two sub-committees: the Finance, Risk, Audit and Governance (FRAG) sub-committee and the Human Resources (HR) sub-committee.
The Board appoints the Treasurer, who serves as the Chair of the Finance, Risk, Audit and Governance sub-committee, and the Chair of the Human Resources Committee.
Article 19 - Election of the Board of Directors
Board of Director shall be appointed per the Indian companies act 2013 and minimum of 2 Director shall be appointed at any point of time. And changes required will be made as per the rules and regulation mentioned in Indian companies act 2013.
Article 20 - Resignation of a Board member
A member of the Board of Directors can resign by notifying the Board of Directors in writing if s/he wishes to resign or ceases to be an Foundation member. A member of the Board of Directors can be removed by a simple majority vote of the General Meeting.
The Board of Directors shall appoint a member of the Foundation to fill a vacancy until the next planned elections.
Article 21 – Competences
The Board of Directors is vested with the most extended powers concerning the administration and the management of the Foundation.
All acts expressly reserved by law or by the present statutes to the General Meeting are excluded from its competence.
The Board of Directors is hence entitled to conclude all contracts or engagements regarding the Foundation or its movable or immovable property and plead as plaintiff or defendant before any jurisdiction. The legal actions as plaintiff or defendant are to be initiated or sustained, in the name of the Foundation, by the Board of Directors, represented by its Chair.
The Board of Directors deals with the recruitment and the management of the Executive Director.
The Foundation is validly bound towards third parties, by the joint signature of the Board of Directors’ Chair and Vice-Chair.
The Board of Directors’ main role is to oversee the Foundation and to share in the responsibility of and accountability for carrying out the Foundation’s mission and activities.
The Board of Directors has the following responsibilities:
Article 22 – Meetings
The Board of Directors shall meet each time the interest of the Foundation requires it. It shall as well meet following the request of one-fifth (1/5) of the members of the Board. A written notice of fifteen (15) days shall be given to the members of the Board of Directors prior to the meeting’s date. However, if the situation requires it, said notice may be waived by all Board members without having any implication on the validity of the decisions made.
The Board of Directors may deliberate on and take valid resolutions only if at least two thirds of the Board members are present. The resolutions of the Board of Directors shall be passed by a simple majority vote of the present Board members. The Board members who abstain from voting are not taken into account in the determination of the required majority for the adoption of a resolution. If the voting result is tied, the Chair or his statutory alternate has the deciding vote.
The Board of Directors meets at least four times a year, either in person or via electronic medium (e.g. video conferences). These four meetings (or any additional ones as deemed necessary) are called by the Chair or can be requested by the Secretariat through the Chair. The minutes are taken by the Secretary, circulated to the Board of Directors members for approval, and will be made available to Foundation members upon request.
Article 23 - Compensation of a Board member
Boards of Directors’ Members, including the Chair, receive no sitting fees or other compensation, only reimbursement of necessary and reasonable expenses that facilitate the accomplishment of the Board of Directors’ responsibilities (travel expenses and accommodation).
Article 24 – Appointment of the Executive Director
The Board of Directors appoints an Executive Director in charge of running and coordinating the action of the Foundation. The Executive Director can be invited by the Board of Directors to take part in its deliberations concerning the action of the Foundation.
The Board of Directors is allowed to delegate the day-to-day management of the Foundation, to the Executive Director. The Board of Directors will establish the duties and powers of the Executive Director.
The Board of Directors is allowed to delegate special powers, either to one of its members, to the Executive Director or a third party.
The Board of Directors will have a supervisory role in the accomplishment of the Foundation’s objectives. It will supervise the Executive Director and evaluate his or her performance. The Executive Director will suggest investment or strategic decisions, and which require the approval of the Board of Directors.
The Executive Director shall be in charge of implementing the strategy, proposing new actions and initiatives when necessary and to assure the day-to-day management of the Foundation as to the assigned duties and responsibilities. Dictated by circumstantial necessities and in concordance with the Executive Director, the Board of Directors assumes, co-assumes or delegates the representation of the Foundation at a national and international level.
The Foundation’s Board of Directors comply with and are responsible for upholding the Foundation’s Conflict of Interest Policy.
Title 5 – Accounts
Article 25 – Accounting year
The accounting year begins the first of April and terminates the thirty-first of March of each year.
Article 26 – Auditor
The financial accounts of the preceding year must be audited by an external auditor who is appointed by the Board of Directors and validated by the General Meeting.
This certified company auditor is in charge of controlling the accounts elaborated by the Board of Directors and verifying whether the accounting documents reflect a trustworthy image of the result and operations of the past exercise, as well as of the financial situation and the all-encompassing financial situation of the Foundation at the end of the exercise. Auditor should submit a report thereof to the General Meeting, which shall approve the annual accounts.
The term of the auditor office may not exceed five years.
Article 27 – Annual Accounts
The Board of Directors submits the balance of the past exercise as well as a projected budget for the following exercise annually to the General Meeting, with a calendar of the proposed events.
Title 6 – Amendment of the Statutes, Dissolution and Liquidat
Article 28 – Mode of Deliberations
The General Meeting may validly deliberate on statute amendments only if the content of the amendments is specified on the agenda notice and if the quorum of two-thirds of the members are present or represented is attained.
Amendment adoption requires a two-third majority vote.
If the required quorum (present or represented) is not attained at the first Meeting, a second Meeting shall be convened notwithstanding the necessary quorum. In this case, the adopted motion must be submitted to the Ministry of Corporate affairs for regulatory purpose if required by law.
However, if the amendment concerns either the initial mission or objectives of the Foundation, deliberation rules for the second Meeting shall be modified as followed:
a. The second Meeting is validly constituted only if at least 1/2 of the members are present or represented.
b. If, in the second Meeting, less than two-third of the members are present or represented, the member in present shall take the decision which shall be binding on upon others.
c. The first and the second Meeting requires a simple majority vote.
Article 29 – Dissolution
The dissolution of the Foundation can only be pronounced by the General Meeting if at least two-third of the members are present or represented. If the quorum is not reached, a second Meeting may be convened, which can validly pass a resolution disregarding the number of members present or represented. The decision to dissolve will only be valid if it is voted by two-thirds of present or represented members. In the case of the dissolution of the Foundation, the Board of Directors shall act as the Foundation’s liquidator. After all liabilities have been cleared, the surplus must be dedicated to another tax-exempt organisation with a same or similar purpose named by the General Meeting.
Title 7 – Resources
Article 30
The resources of the Foundation are constituted by:
a. Member contributions
b. Donations, collections and specific appeals
c. Grants and legacy, sponsoring and sponsorship
d. Self-financing, sales and incomes derived from its products
Title 8 – Final Provisions
Article 31
Any matter not specifically provided for in the present statutes shall be governed by the provisions of the Indian laws and regulations as and when applicable to the situation.