This call that took place on 24 May 2018, dealt with supervisory ratios in insurance supervision, particularly in relation to client value and product cost structures. A record number of 89 supervisors from 36 countries participated on this call.
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This Supervisory Dialogue event provided an overview of how informality is affecting insurance markets, examined the risks and focused on the challenges faced by insurance supervisors as a result.
The event also provided a platform for peer to peer information sharing on the topic. Presentations were made of the approaches taken by supervisors in different regions to encourage formalisation and greater financial inclusion.
Index-based insurances is defined as insurance contracts in which a claim is defined with reference to a pre-determined index (sometimes also referred to as parametric insurance). The paper, published on June 18th, focusses on the insurances usually directed at weather related or natural catastrophe event risks, primarily for insurance supervisors who are seeking to enhance financial inclusion in developing markets.
Despite its significant potential, there has been little regulatory and supervisory guidance on m-insurance. The Access to Insurance Initiative (A2ii) commissioned this study in order to address the gap and contribute to the preparation of an International Association of Insurance Supervisors (IAIS) Application Paper on the Use of Digital Technology in Inclusive Insurance (forthcoming 2018).
Digital technologies are rapidly changing the insurance landscape worldwide. In Africa currently, mobile insurance is prevalent, but other digital technologies are on the rise too, helping to provide a large number of households with coverage for the very first time.
What is the role of insurance regulators in dealing with consumer data protection risks arising from increased data availability and usage?
InsurTech developmental traits have been compared to those of a curious and imaginative toddler (!) who pushes the boundaries, a herald of the Fourth Industrial Rev