The newly released A2ii Policy Note ‘Insurance and the Sustainable Development Goals  - why it matters and how data can help’ argues why insurance matters to achieving the Sustainable Development Goals (SDGs). It sets out the key KPIs that can be tracked to capture the link between insurance and the SDGs.

The project is a joint initiative of A2ii, Financial Sector Deepening Africa (FSDA), Cenfri and Sub Saharan African insurance supervisors. 

Insurance as a risk protection mechanism plays an important role in at least nine of the SDGs. As one of the world’s largest investors, the insurance sector holds the potential for boosting sustainable development. Its role can be that of an underwriter, as an investor or ‘corporate citizen’.

However, the conversations around this potential are still high level. Better understanding and recognition of the role of insurance in achieving the SDGs by all stakeholders, integrating insurance in development strategies and industry solutions that support the SDGs are necessary. To arrive at a joint vision and sustainable concrete solutions, data is crucial.

Insurance supervisors are a key stakeholder. This is not only through their regulatory initiatives that help ensure the insurance sector offers the necessary diversity of products and services that support the development goals, but also through supporting data efforts and paving the way to multi-stakeholder partnerships.

The Policy Note ‘Insurance and the Sustainable Development Goals – why it matters and how data can help’ sets out the KPIs in support of efforts to measure the contributions of the insurance sector to the SDGs, for setting aspirations, and as a basis for dialogue and alignment among the industry, supervisors, policymakers and development practitioners. 

Public Dialogue on Insurance and the Sustainable Development Goals

The SDGs represent the common language for setting aspirations and alignment among the insurance industry, supervisors and policymakers. More work, therefore, needs to be done to widen the insurance vocabulary and articulate how insurance can support sustainable development.

Join us in discussing these topics on 22 April 2021 at the A2ii-IAIS Public Dialogue on Insurance and the SDGs. 

To open the event, the keynote address will be given by a High-Level UN Representative. We will then hear from a panel of experts including representatives from the World Bank,  AXA Emerging Customers, ILO’s Impact Insurance Facility and the South-African Reserve Bank. 

You can register here.

To find out more about the role of insurance  in the efforts to achieve the Sustainable Development Goals, visit the SDGs pages on our website.