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30.04.2021 | Carolyn Barsulai | Accounting standards, IFRS 17, Supervisory Dialogue
After almost 20 years in the making, the release of International Financial Reporting Standard (IFRS) 17 Insurance Contracts has been heralded as one of the most significant recent developments in the insurance industry.
23.03.2021 | A2ii Editorial Team | Index Insurance, Regulations
La publicación presenta los resultados y hallazgos de la encuesta sobre seguros basados en índices, también llamados de seguros paramétricos, realizada por la A2ii en el segundo semestre de 2020.
05.02.2021 | Rachelle Jung | Inclusive Insurance, Inclusive Insurance World Map, Index Insurance, Microinsurance, Regulations
It has been sixteen years since India enacted the first microinsurance regulation in 2005. Now, at least 30 authorities across 43 markets have implemented dedicated inclusive insurance regulation, and others have adopted other regulatory approaches that are supportive of inclusive insurance.
02.02.2021 | Dunja Latinovic | Covid-19, Health, Inclusive Insurance, SDGs, Supervisory Dialogue
Imagine if every year the population of an entire country the size of the Philippines fell into poverty because of out-of-pocket expenditures on health services. The WHO data on global health coverage presents a sombre picture. Every year 100 million people are pushed into poverty because of lack of health coverage; that without the burden of a global pandemic.
Delivering financial inclusion is a core principle of the Sustainable Development Goals (SDGs) given its role in eradicating poverty. Africa is particularly impacted, given that half of the population is without access to formal financial services. Access to bank accounts hovers at 40%, while insurance accounts for just 3% of GDP, against a global average of 7%. However, recent technological developments have led to the financial system becoming more accessible, to low-income populations than ever before. Across Sub-Saharan Africa, for example, the growth of mobile penetration rates has risen to over 43%, providing a crucial platform for the digital expansion of financial services.
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