CARD Pioneer’s Covering Nanay wins ‘Best Book on Business’ at 43rd National Book Awards
Covering Nanay: The Philippine Microinsurance Journeythe growth story of CARD Pioneer Microinsurance, Inc. (CPMI), was awarded Best Business Book of 43rd National Book Awards, highlighting partnerships that have extended insurance coverage to millions of underserved and underserved Filipinos.
This award was given on March 14 at the Megatrade Hall, SM Megamall, under the auspices of the National Book Development Board and the Philippine Critics Circle.
It is now 43rd The program, the National Book Awards remains one of the country’s most prestigious awards for writing and publishing, recognizing outstanding books in both literary and non-literary categories, including business.
Covering Nanay stands out among the five finalists in the Business Book category, which shows the growing importance of financial inclusion and microinsurance in the country’s development discussions.
Written by Dr. Jaime Aristotle Alip, Lorenzo Chan, Jr., and Pia Yupangco, this book provides a transparent, behind-the-scenes account of how CARD and Pioneer Insurance built CPMI into a model studied by world leaders in microfinance and inclusive insurance.
Dr. Alip shared, “This book tells a story bigger than us. It is the story of how two mission-driven organizations – CARD MRI and Pioneer Group – worked together, overcame challenges, and boldly innovated to bring microinsurance to millions of underprivileged Filipinos. We asked a simple yet transformative question: how exactly should insurance be brought to those who need it most?”
The narrative traces the early days of the partnership – marked by heated negotiations, product duplication, market skepticism, and heavy financial losses following major disasters that required CPMI to pay out millions of claims. Despite these challenges, CPMI remained focused on its mission to help low-income Filipinos who are most vulnerable to illness, accidents, natural disasters, and unexpected losses.
CPMI had 700,000 subscribers in its first year. Twelve years later, in 2025, it recorded 28.7 million registrations, which shows how inclusive insurance can grow if it is based on trust, ethics and strong institutional partnerships.
CARD has brought to the partnership its grassroots reach and nationwide network nanays — microfinance clients maintain a 99% loan repayment rate and build sustainable livelihoods. Complementing these strengths, Pioneer Insurance has dedicated decades of life and non-life insurance expertise, financial stability, and a genuine desire to insure the underserved and underserved Filipinos.
The book also captures the international validation of the Philippine microinsurance model. Rob Wesseling, President and CEO of Co-operators, shared, “The Philippine microinsurance market is a beacon to the world, not only in emerging markets but also in the developed world. If we are going to build a safer and stronger world, we need to actively spread the CARD journey in the Philippines and use its technology to reach more people around the world and they deserve the protection they need.”
Michael McCord, Managing Director of the Microinsurance Center at Milliman, added that “I tell everyone that CARD Pioneer is the best example of what microinsurance should be globally.”
Since it was first published in April 2024, Covering Nanay it was presented to the world in Nepal at the International Cooperative Insurance Conference, in Buenos Aires at the International Cooperative and Mutual Insurance Federation, in Japan as an example at the FALIA (Federation for the Advancement of Life and Insurance Around the World) conference, and in Kenya at the Microinsurance Master study program attended by global practitioners.
Available worldwide on Amazon and locally at select Fully Booked locations, the book has sold more than 10,000 copies and is now in its third printing, showing strong interest from the business, insurance, and development communities.
In addition to a business account, Covering Nanay affirms a shared desire: that when given the right opportunity and the right support systems, Filipino families can build resilience and secure a better future. With this latest recognition, the call to expand universal insurance is growing stronger, ensuring that coverage is accessible to more communities across the country and beyond.
Chan shared, “The pursuit of financial inclusion is never-ending. There are endless concerns to be addressed and millions to be worked on. May our journey and lessons learned from nanays we are a reminder that although it is not without challenges, it is possible!”
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