Past Consultation Calls
22.09.20161hWorldwide | Consultation Calls18th IAIS-A2ii Consultation Call on "How Supervisors Can Help Enable Access to Insurance for Migrants"
In many ways, migrants are more vulnerable than locals. They frequently work in high-risk, low-wage jobs, tend to be excluded from social protection and healthcare in the host country, and oftentimes lack the support of local communities. Moreover, their families in home countries often depend on them for financial support, especially in times of emergencies.
21.07.20161hWorldwide | Consultation Calls, Inclusive Insurance Regulation17th IAIS-A2ii Consultation Call on "Experiences in implementing regulatory frameworks for inclusive insurance"
With access to insurance high on the financial inclusion agenda, efforts are being undertaken to develop inclusive insurance regulatory frameworks in many jurisdictions. Effectively implementing such frameworks requires a multifaceted approach involving numerous stakeholders and proportionality considerations.
19.05.20161hWorldwide | Consultation Calls, Inclusive Insurance Regulation
A regulatory definition of microinsurance delineates this business line from other types of insurance such as traditional or mass. Distinguishing microinsurance is important to facilitate product and business model innovation; while at the same time protecting typically more vulnerable microinsurance consumers.
31.03.20161hWorldwide | Consultation Calls, Market Development
Innovative approaches to distribution are important to achieve scale and serve low-income groups that traditionally have not had access to insurance. Large client aggregators such as retailers with numerous sales agents and mobile network operators increasingly play an important role in distribution.
21.01.20161hWorldwide | Consultation Calls, Market Development
Regulatory incentives to foster the growth of inclusive insurance are important. Regulation needs to be proportionate to the nature, scale and complexity of risks inherent in individual insurance business and strike a balance between “motivating the industry” and “protecting the consumer” if it is going to achieve its intended objectives and expand access to insurance for low income consumers.
26.11.20151hWorldwide | Consultation Calls, Digital Technology, Consumer Protection
Mobile insurance has a huge potential in advancing inclusive insurance markets and has experienced rapid growth in recent years. However, it also brings with it new risks and challenges for insurance supervisors seeking to ensure policyholders are protected from abuse and fraud. Participants on the call will learn more about these risks and discuss potential supervisory responses. Additionally, different country examples will be shared with participants on the call.
24.09.20151hWorldwide | Consultation Calls, Financial Literacy
Participants on the call will discuss the role of insurance supervisory authorities in developing and implementing effective national financial literacy and consumer education strategies. The roles between relevant stakeholders in this process (supervisory authorities, policy-makers and market players) will also be discussed and different examples shared with the participants.
23.07.20151hWorldwide | Consultation Calls
Prudential supervision should be both risk-based and proportionate. These criteria are equally relevant when supervising insurers operating in the conventional insurance market and those providing insurance to the underserved. However, differences in the nature, size, and risk profiles of the insurers involved might mean that traditional prudential supervisory approaches would be inappropriate.
21.05.20151hWorldwide | Consultation Calls, Inclusive Insurance Regulation
Actuarial capacity is a challenge in most inclusive insurance markets. It is for this reason that the IAIS in close collaboration with the International Actuarial Association (IAA) will be developing a paper on "approaches to actuarial services in inclusive insurance markets". The paper will aim at providing general guidance on requirements and specific approaches for proportionate actuarial services in inclusive insurance markets that is applicable across jurisdictions.
26.03.20151hWorldwide | Consultation Calls, MCCOs9th IAIS-A2ii Consultation Call on "Mutuals, Cooperatives and other Community Based Organisations (MCCOs) in inclusive insurance"
At the request of the IAIS the 9th Consultation Call focused on "Mutuals, Cooperatives and Community Based Organisations (MCCOs) ". The IAIS is currently working on the development of an Application paper which will provide supervisory guidance regarding adherence to and implementation of the relevant Insurance Core Principles (ICPs) with respect to MCCOs in inclusive insurance markets.