Past Consultation Calls
22.01.20151hWorldwide | Consultation Calls, Inclusive Insurance Regulation
Some countries had, or still have a significant magnitude of informal insurance activity, in particular in areas such as funeral and health insurance, or credit life insurance provided by mutuals or microfinance organisations. Government schemes and pilot programs are also often outside of the purview of supervisors.
Formalisation has been recognised as a considerable challenge by many insurance supervisors.
20.11.20141hWorldwide | Consultation Calls
The development of the A2ii and IAIS activity plans on inclusive insurance is proceeding largely in parallel. Several rounds of discussion among A2ii and IAIS Committees have taken place to better align our activities to strengthen our mutual roles and responsibilities. We would like to take the opportunity to seek your input during the Consultation Call in order to facilitate a bottom up approach.
25.09.20141hWorldwide | Consultation Calls, Market Development
Given the typically low margins on low value policies, most successful microinsurance business models innovate distribution channels in order to minimise distribution costs and scale up the number of policies sold, either by leveraging groups or the infrastructure and reach of aggregators. These new ways to sell insurance typically result in long distribution chains involving a variety of entities and their employees, some of which may not traditionally be regulated by the insurance supervisor. Therefore some microinsurance business models entail a greater degree of separation between the insurer and the client than under the traditional individual sales model. This leads to the emergence of consumer protection risks that are particularly prevalent in microinsurance.
28.08.20141hWorldwide | Consultation Calls, Inclusive Insurance Regulation
Inclusive insurance markets require a proportionate approach to product oversight including product standards. Supervisors have different options for product oversight before and after product launch. The overall objective of such steps is to discourage products and services that may cause consumer detriment from reaching the market. Some insurance supervisors require the pre-approval of insurance products, in both life- and general lines or in one of the two. Others have opted for a file-and-use process.
26.06.20141hWorldwide | Consultation Calls, Agricultural and Disaster Risk Insurance
The fourth consultation call focused on agriculture insurance, an issue that has hardly been discussed when considering inclusive insurance markets. It was attended by almost 30 supervisors from various jurisdictions across Asia, Africa, Latin America and the Caribbean.
22.05.20141hWorldwide | Consultation Calls, Consumer Protection
“This is the third call I’ve participated on and I can say that in terms of the quality of the outputs and the conversations taking place between supervisors, it’s shown to be immensely beneficial and I think that’s consistent with the feedback that has been returned to the A2ii and IAIS from IAIS members.”
These were the opening remarks made by IAIS Secretariat staff Conor Donaldson for the third Consultation Call held on 22 May.
24.04.20141hWorldwide | Consultation Calls, Inclusive Insurance Regulation, Digital Technology2nd Consultation Call on "Technical innovations in insurance distribution and regulatory implications"
"Technical innovations are a key issue, not only for financial inclusion, but for the future development of the (insurance) regulatory approach." These were the opening remarks of IAIS Secretary General Yoshihiro Kawai in the A2ii’s second Consultation Call on 24 April.
27.03.20141hWorldwide | Consultation Calls, Inclusive Insurance Regulation
"Setting guidelines does not mean anything without implementation." These were the opening remarks of IAIS Secretary General Yoshihiro Kawai in the A2ii’s first Consultation Hour call on 27 March. The first call focused on the definition of microinsurance. It was attended by 35 participants from across Asia, Africa and Latin America.