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Welcome! In this newsletter, we provide you with updates on the work of the A2ii, events and publications, and experiences and learning on inclusive insurance regulation and supervision across jurisdictions over the past month.

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iii-Lab 4 Update | Recent Events |  Staffing Update | Trainings | Useful Tools on Our Website

iii-Lab 4 Update 

The fourth iii-lab process is kicking off with the selected country teams from Armenia, Nepal and Senegal. On Thursday, 8 February, the teams will meet virtually for the first time during the onboarding session organised by the hosting team.
The national kick-off workshops will take place in Dakar, Senegal, on 14-15 February, in Kupondole, Nepal, on 28-29 February, and in Yerevan, Armenia, on 13-14 March. Details of the events will be organised by each country's insurance supervisors.
The agenda will include mapping the country's insurance landscape and identifying priority areas, exploring the objectives and procedures of the iii-lab, and sharing individual expectations and aspirations. Building strong and trusting relationships within teams is a key focus of the national workshops.
A2ii will be accompanied by facilitators from Reos Partners on this innovation journey. For more about the lab, see our website.

Recent events

GCAF Meeting | 30 January - 01 February

The Groupe des Contrôleurs d'Assurance Francophones (GCAF), chaired by the ACAPS of Morocco, vice-chaired by the AMF of Quebec and by the Direction Nationale des Assurances of Togo, held their annual meeting from 30 January – 1 February in Paris.  Supervisors from across eighteen countries participated. The meeting consisted of three main themes: 

• Risk-based supervision, with presentations by ACAPS Morocco, ACPR, BNB Belgium, FINMA Switzerland;
• Digitalisation in insurance, with presentations by A2ii, ACPR France, AMF Quebec, ARCA DRC, DNA Côte d'Ivoire, DNA Senegal; 
• Protection gaps, with presentations by ACAPS, ACPR, BNB.  

The meeting was also an opportunity for the IAIS Roadmap 2024-2025 to be presented and for participation in the IAIS Global Sector Monitoring (GSM) to be encouraged.  Further information including the seminar program and presentations are available here. 
 

Virtual Workshop on Risk Modelling 

In November and December 2023, the Insurance Development Forum (IDF) and the Access to Insurance Initiative (A2ii) co-convened a workshop series for insurance supervisors from emerging markets and developing economies, responding to the International Association of Insurance Supervisors' (IAIS) agenda outlined in their report 'A call to action: the role of insurance supervisors in addressing natural catastrophe protection gaps' published on 2 November 2023. 

The series followed up on the A2ii-IDF-MIN-IAIS 18th Consultative Forum in Ghana on 23 October 2023. The first workshop on 29 November 2023 focused on climate and disaster risk, introducing catastrophe risk models. Ekhosuehi Iyahen, Secretary General of the Insurance Development Forum, and Janina Voss, Interim Head of the A2ii Secretariat, delivered welcoming remarks. Miroslav Petkov, Senior Policy Advisor at the IAIS, and Bill Marcoux, Co-Chair of the IDF Law, Regulation and Resilience Policies Working Group, presented on the importance of understanding climate and disaster risk. Tomás Soley, from the Superintendencia General de Seguros de Costa Rica (SUGESE), shared Costa Rica's efforts in integrating climate risk analytics into supervisory practices. Emma Watkins, Head of Exposure Management at Lloyds, and Marie Scholer, Expert on Policy Sustainable Finance at the European Insurance and Occupational Pensions Authority (EIOPA), presented examples of risk analytics in developed markets. 

On 7 December, the second part of the workshop delved deeper into climate and disaster risk analytics. Hannah Grant, Senior Advisor at the Global Shield Secretariat and Co-chair of the IDF Law, Regulation and Resilience Policies Working Group, and Janina Voss opened the session. Stuart Fraser, Technical Lead of the IDF Risk Modelling Steering Group (RMSG), introduced risk analytic principles. Examples of risk modelingmodelling were presented by Dickie Whitaker, Chief Executive of the Oasis Loss Modelling Framework, Andrew Dhesi, Group Head of Property Modelling at RenaissanceRe, and Nihar Jangle, Advisor in Climate Risk Insurance at GIZ. Pascale Lamb, Advisor at A2ii, and Miroslav Petkov, Senior Policy Advisor at IAIS, moderated an open forum, facilitating a discussion on participants' experiences and challenges in climate risk modelingmodelling, identifying opportunities for further collaboration between A2ii and IDF on future knowledge sharing and capacity building activities. 

Read the full summary report here. 

IDF Operational Committee Meeting | 31 January, London

A2ii attended the recent Operational Committee meeting of the IDF on 31 January in London. Attendees discussed that the recent COP discussion on Loss and Damage offers promising opportunities for engagement on disaster risk management and insurance solutions. The Resilient Planet data hub was also launched at COP 28, which, among its initiatives, uses data to compare risks arising from multiple hazards at a global scale. Additionally, the Global Shield secretariat has recently sent out country-level invitations to apply for support.

Regulatory frameworks were highlighted; there are more collaboration requests to connect data and supervisors. Engaging with regulators and supervisors, and defining their role within the Global Shield, are key areas of focus. As "hidden heroes" who effectively communicate the need for products and modelling to other stakeholders, supervisors and regulators have a crucial role.
 

Staffing Updates

We welcome Letizia Fezzi to the A2ii team as a intern. She supports the organisation and preparation of online and in-person events related to the iii-lab and assists in the promotion of A2ii gender-focused initiatives. She holds a joint Master's degree in European Studies from the University of Strasbourg and the University of Deusto and completed a post-graduate specialisation course in International Relations, Marketing and Communication. Before starting her internship at A2ii, Letizia worked in the humanitarian field for the Red Cross in Brussels, Belgium. She speaks English, French, Spanish and Italian.

Trainings

Self-directed training

Supervision of climate-related risks in the insurance sector

Applying a gender lens to inclusive insurance

How to conduct a rapid gender diversity assessment

Index Insurance Training for All Stakeholders
 

Are you an insurance supervisor? Then join Connect.A2ii - our learning platform restricted to supervisors offering free and certified courses and an opportunity to learn from peers.

Useful Tools on Our Website

Inclusive Insurance Regulations Map

The interactive map incorporates data about existing inclusive insurance regulation and regulation which supports inclusive insurance sourced through A2ii's research, work and interaction with supervisory authorities worldwide. 

ICP Self-assessment Tool

The tool is intended to help supervisors assess the level of observance of the Insurance Core Principles (ICPs).

 Supervisory KPIs Lexicon

Interactive, searchable directory of KPIs for insurance supervisors across four pillars: prudential soundness, market conduct, insurance market development and the Sustainable Development Goals.

Insurance and the Sustainable Development Goals (SDGs)

The SDG pages include resources on the importance and the role of insurance across nine SDGs: 01 No Poverty, 10 Reduced Inequalities, 02 Zero Hunger, 03 Good Health and Well-being, 05 Gender Equality, 08 Decent Work and Economic Growth, 09 Industry Innovation and Infrastructure, 13 Climate Change and 17 Partnerships for the Goals.