“Compassionate capitalism will be the way of the future” and is the only way that for-profit companies will be able to sustain themselves in developing markets, according to Asher Hasan, Founder and CEO of Naya Jeevan, a nonprofit social enterprise dedicated to providing health insurance to disadvantaged families.
Hasan told an audience here at the Asia Society that Naya Jeevan’s mission is to “alleviate poverty by providing affordable access to quality catastrophic health care” when catastrophic events render families either financially insolvent or heavily indebted.
/>Working with private sector and multinational corporations in Pakistan and with academic and non-profit institutions, Naya Jeevan provides health insurance coverage for domestic employees of people working for large multinationals, low-income participants in the supply chains and distribution networks of these companies, and to low-income employees of corporations.
/>This model is also being followed in other South Asian contexts, notably in Bangladesh and India. Citing the example of the Seva Foundation in India, Hasan noted that private providers often face criticism for supposedly usurping the state’s role as a provider of health services.
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