iCARE BENEFITS ADOPTS

iCare Benefits improves quality of life for workers' families by addressing the Sustainable Development Goals most related to their realities. We chose the 5 goals below as the main focus- Learn more about the SDGs. - Learn more about the SDG

Reduced Inequalities

GENDER EQUALITY

GOOD HEALTH AND WELL-BEING

QUALITY EDUCATION

PARTNERSHIPS FOR THE GOALS

Reduced Inequalities

  • iCB serves workers at the base of economic pyramid who are over 85% of all our customers
  • Promotes economic and social inclusion, especially for female and migrant workers.
read more

GENDER EQUALITY

  • 85% of iCare members are women
  • Generating savings of 220 USD and 80 working hours per year for an average iCare member
  • Empower financial resilience of the household
read more

GOOD HEALTH AND WELL-BEING

  • Healthy Living – healthcare products and services
  • Programs in partnership with health expert organizations
  • Awareness raising about health issues for workers and their families
read more

QUALITY EDUCATION

  • Smart Living – education products and services
  • School Supplies
  • Free and fee-based education
read more

PARTNERSHIPS FOR THE GOALS

  • Public-private sector alliance to Improve Quality of Life for 100 million workers’ families
read more

ReduceD Inequalities

Challenges

Workers with wages between 100-400 USD per month often find it very difficult to pay in cash for essential products and services and need to pay 20%-90% higher cost including usurious interest to lenders
Consumer financeBlack Market1
Target audience At least mid-income Everyone We serve workers
Interest 1-3% a month Overwhelmingly high, 10-20% a month
  • 0% interest
  • No fees & charges
Disadvantage
  • Burdensome documentation
  • Credit card fee
  • Late payment penalties, etc..
  • Collateral required (ATM card, motorcycle keys)
  • Physical threats
  • Violence
  • Easy to apply
  • Only need to fill
  • Registration form and copy ID
Education provided None None Workshop provided

Our solutions

Eliminate the reliance on informal lending

With access to iCare Benefits platform, workers stop using services of informal lenders who often charge usurious interest rates and may employ violence in debt collection.
how do you usually pay for things you want to buy?

93%

of workers

say iCare Benefits helped them to save time and money

iCare BENEFITS is easier, safer & cheaper

Extends 0% interest installment plan to all members
  • NO collateral
  • NO registration & administration fee
  • NO financial risk & asset loss
Having more time and money in hand, 77% iCB survey respondents admitted they feel more engaged and productive at work
Leading to a better quality of life

92%

said they have a better quality of life
Cultivating satisfied, happy employees…

81%

said they were more satisfied at work.
…influencing productivity

77%

said they were more productive at work

Result

“Without iCare Benefits, it’s really hard for workers to save enough cash to buy essential products.”

- Mr. Minh, Vice Chairman of Labor Union in a factory

Gender Equality

Challenges

According to CEDAW, in developing countries, women have to work more hours than men, with household chores taking up a significant portion of time.
On average, women in the labour market still earn 24 percent less than men globally

Our solutions

Generated savings per year for an average member

*Real numbers based on surveys about the amount of money and time saved by average active user defined as someone who in one year made more than 1 physical purchase, more than 1 cash advance, and more than 2 mobile airtime top ups.

85% of iCB members are women

Women are empowered to be primary purchasers of their household. Generated savings and deferred payment options with no interest help the households to be resilient to economic shocks and stress.

Result

“We are trying to save, bit by bit, so that we can have a better life in the future. I signed up for iCare Benefits and was able to buy mattress, washing machine, and even a smartphone, paying through a zero interest installment payment plan. If I bought from another store with a similar installment payment option, I would be charged high interest.”

- Duong Thi Thai- Freetrend- HCMC

Good Health & Well Being

Challenges

Only

50%

women

in developing regions receive the recommended amount of healthcare they need

24.7%

of workers in Vietnam

take sick leave which costs employersover 5 million USD/year

over

20%

of female workers

have iron deficiency resulting in anemia and other diseases

Our solutions

WHAT WE DO:

iCare Benefits works with local and international NGOs to define the most burning health needs and address them through free preventive education and offerings of healthcare services and products

WHAT WE DO:

HPV preventive education and vaccinations program

for female workers and their daughters

WHAT WE DO:

Implemented

folic acid

and

iron supplements

into iCB offerings to address the iron deficiency problem among female workers.

WHAT WE DO:

Health check-up packages

with

deferred payment option

WHAT WE DO:

Pipeline projects

breastfeeding, hand washing campaigns providing awareness raising and access to essential products and services

Result

“We knew about HPV from the media but we haven’t managed to take our daughter to the hospital for the vaccination yet since my wife and I are busy with our work while my daughter goes to school during the weekdays. It is great that iCare Benefits helps to coordinate the vaccination program right at my factory during the weekend. This is very convenient for both my daughter and I, and we registered without any worries.”

– Anh Thuận, Factory worker in South Vietnam

Quality Education

Challenges

“In September, typically half the factory workers in Vietnam who are parents go into debt to buy children's school supplies and pay tuition, and they borrow with significant interest rates. With our program, they pay at a price equivalent to the cash price with no interest.”
- Mr Trung Dung, Founder and Chief Executive Officer, iCare Benefits

80%

of workers
to use a computer to acquire knowledge

88%

of workers
are non skilled

5%

of workers
are qualified

Our solutions

WHAT WE DO:

School supplies

with deferred payment option

WHAT WE DO:

Delivery to homes

Migrants who work away from their homes can order school supplies for their children, and iCare Benefits will deliver the goods directly to their home base.

WHAT WE DO:

courses for children

Deferred payments for extra-curricular courses for workers’ children

WHAT WE DO:

Pipeline projects

Financial literacy, digital literacy, health education

Result

“My name is Khanh Nhat. My mother is Dong, she is a worker in a factory. I dream to get a Master Degree to make my parents proud.”

- Tran Hoang Khanh Nhat, son of Mrs Dong, a factory worker in Binh Duong

PartnershipS for the Goals

"Together" is an invitation for potential partners to join us in the effort to impact lives of workers’ families. iCare Benefits won’t reach the 100 million goal alone, it can only be a result of effort and collaboration of an alliance of partners.