Regulating Mobile Insurance: Status and Regulatory Challenges

This document serves as a preliminary summary of a larger study commissioned by the Access to Insurance Initiative (A2ii) for 2017. The summary provides a review of supervisory approaches to mobile insurance (m-insurance) in various jurisdictions with the aim of providing inputs to the forthcoming IAIS1 -A2ii-CIMA2 Conference on Mobile Insurance Workshop in Douala, Cameroon from 23rd- 24th February 2017.

The study draws on various sources including online surveys, telephone interviews and desktop research. Online surveys were completed by insurance supervisors from 26 jurisdictions and follow-up in-depth telephone interviews were conducted with insurance supervisors from 9 jurisdictions between October 2016 and January 2017 (Brazil, CIMA, Ghana, Kenya, India, Indonesia, Philippines, South Africa and Tanzania). Furthermore, additional interviews were also conducted with key resource persons and stakeholders within the m-insurance sector. This study will also feed into the work of the IAIS Drafting Group on Digital Technology in Inclusive Insurance on an applications paper on digital insurance. The paper focuses on m-insurance, but also addresses some other aspects of digital insurance and technology.