23.03.20171hWorldwide | Consultation Calls, Market Development21st A2ii-IAIS Consultation Call on "Measuring insurance development: beyond the insurance penetration rate"
The insurance penetration rate is traditionally calculated based on total premiums as a percentage of Gross Domestic Product (GDP). This has served as a useful high-level measure of insurance development, while providing a good basis for international comparison. However, supervisors pursuing more specific policy goals, such as financial inclusion or client value, may find that this measure on its own does not provide enough meaningful information to guide policy strategies.
01.12.20161 daySan José, Costa Rica | Workshops and Seminars, Event Reports, Inclusive Insurance Regulation, Market Development8th Consultative Forum on the topic of “Challenges and opportunities presented by alternative distribution channels”
This event gathered 60 participants from Latin American and Caribbean insurance supervisory authorities and industries. It elaborated how client aggregators have changed the landscape of the microinsurance industry.
11.05.2016 to 12.05.20162 daysMarrakesh, Morocco | Workshops and Seminars, Event Reports, Digital Technology, Market Development
Over 70 representatives from supervisory authorities, the insurance industry and intermediary bodies came together at the 6th Consultative Forum on “innovative products for the emerging consumer” in Marrakesh, Morocco.
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.
02.12.2014 to 03.12.20142 daysWashington DC | Workshops and Seminars, Inclusive Insurance Regulation, Consumer Protection, Market DevelopmentExpert Symposium “Proportional regulatory approaches in inclusive insurance markets – Capturing what we learnt for the future”
The Access to Insurance Initiative (A2ii), the International Association of Insurance Supervisors (IAIS) and the Consultative Group to Assist the Poor (CGAP) hosted an expert symposium on “Proportional regulatory approaches in inclusive insurance markets.
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.