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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 Eduration
Partnerships For The Goals
Reduced Inequalities

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.
Gender Equality

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
Good Health And Well-Being

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
Quality Eduration

QUALITY EDUCATION

  • Smart Living – education products and services
  • School Supplies
  • Free and fee-based education
Partnerships For The Goals

PARTNERSHIPS FOR THE GOALS

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


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 FINANCE BLACK MARKET 1
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

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

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“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

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GENDER EQUALITY

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

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.

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“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

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GOOD HEALTH & WELL BEING

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 employers over 5 million USD/year

over

20%

of female workers

have iron deficiency resulting in anemia and other diseases

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:

Pipeline projects

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

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QUALITY EDUCATION

“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

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
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“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

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PARTNERSHIPS FOR THE GOALS

"Togetheris 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.

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