When licensing and supervising insurance products, supervisors need to make judgements on the soundness, sustainability and ethics of the product proposed. This is particularly the case when products are designed as part of an initiative for increased financial inclusion, as those underserved segments often contain economically and socially vulnerable consumers with low familiarity with insurance products. This call will explore some of the approaches in evaluating this, the ratios involved (e.g. loss ratio, claims ratio, renewal ratio, and others) and some concrete examples of what considerations come into play. This call topic is a response to the discussions that took place in the IAIS Implementation Committee meetings in November 2017.
Save the date!
The IAIS-A2ii consultation calls are topic-focused webinars (via WebEx) for insurance supervisors.