Issues Papers provide background on particular topics, describe current practices, actual examples or case studies pertaining to a particular topic and/or identify related regulatory and supervisory issues and challenges.
Latest Knowledge Products
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.
On the topic: 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.
Incentives for insurers and examples of a proportionate approach include:
In May 2016, the Inter-African Conference on Insurance Markets (CIMA) in partnership with the Access to Insurance Initiative (A2ii) hosted a workshop in Abidjan, Côte d'Ivoire.
2016 has been a productive year for the Access to Insurance initiative (A2ii). We have organised and participated in more events than ever before, pioneered our outreach into new regions as well as strengthened our partnerships with supervisors on the ground through the establishment of our first ever regional hub in South Africa.
The A2ii published an article in the new annual Microinsurance Network publication ‘The state of Microinsurance 2016’. In the article the A2ii gives an overview of its work in Peru, Columbia and Jamaica helping microinsurance market development though supporting the supervisory authorities in establishing an enabling regulatory environment.