On the topic: On this call we explored emerging technologies and how they affect the market and consumers. We also took a look at some regulatory approaches which have been taken, such as setting restrictions, or facilitating some technologies.
Consultaton Call Reports
On the topic: On this call we examined the practical aspects of proportional disclosure regulation, which can encourage the industry to offer inclusive insurance while ensuring consumer protection.
On the topic: There is growing awareness of the exposure of countries, private and public sector entities and individuals to potentially crushing economic loss as the result of natural disasters. There is also a recognition that the insurance sector has an important role to play in helping to assess risk, promoting loss prevention and mitigation and in risk financing for sovereigns, sub-sovereigns and others. This call explored the important role that insurance regulation plays in facilitating the deployment of insurance sector resources at the ma
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.
In response to requests from the IAIS Executive Committee as well as Latin American supervisors the next A2ii-IAIS Consultation Call will be on the topic of reinsurance. The call focused on reinsurance from a host jurisdictions perspective and will examine questions around enforcement of contracts, direct and indirect supervision of reinsurers and contract oversight among other issues.
On the topic: there has been a rapid growth in mobile insurance, especially over the past 5 years. Yet for a domain where so much is happening and where more players (e.g. Mobile Network Operators, technical service providers) and regulators are getting involved, there is still little information about potential risks and corresponding solutions. In particular, the topic of data protection – the regulatory measures taken to protect personal data – has not received much attention.
On the topic: 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.
On the topic: 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.
On the topic: 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.
On the topic: 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.