Access to Insurance Initiative Newsletter 11/2015
Welcome to our newsletter, where we update insurance regulators and supervisors on the work of the Initiative and inform you about events and publications.
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One-day Action Session on Operational Microinsurance Definition
|2 October 2015| Washington, DC
The A2ii presented on regulatory approaches to defining microinsurance at this session, which was jointly organised by the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH and Allianz SE.
The objective of the meeting was to draft an operational definition for microinsurance from the private sector’s perspective to achieve greater transparency in reporting and data comparability at a global level. The meeting was mainly attended by industry representatives; however representatives from the IAIS, A2ii, World Bank and Inter-American Development Bank (IADB) were also present.
Following several input presentations discussion focused on (1) the core parameters to include in an operational definition, (2) the approach to take in defining these core parameters and (3) microinsurance related Key Performance Indicators to measure and publicly report on the definition.
If enough companies commit to using the definition it is hoped that it will be used for public reporting. However, further clarification is still needed on some of the parameters before this can occur.
IAIS Drafting Group meeting on index-insurance
|6-8 October 2015| Washington DC
The IAIS Subgroup on index-based insurance had its first meeting in Washington, co-organised by the Worldbank. During the 2.5-day meeting, supervisory issues arising when considering index-based insurance were discussed, supplemented by case studies from Kenya and the CIMA region. A2ii presented a paper it is working on with the German Federal Ministry for Economic Cooperation and Development (BMZ) on regulatory issues in agricultural insurance.
IAIS ICP Review taskforce
|15-16 October| Basel
The A2ii participated in the first physical meeting of this taskforce on 15-16 October in Basel. Revisions to the introduction of the ICPs as well as the text covering assessment methodology were discussed by participants. It was agreed that the text introducing the concept of proportionality in practice would be redrafted to clarify how the principle applies throughout the IAIS’s supervisory material and to aid its consistent application. Revisions to ICPs 9, 10 and 11 were also discussed.
The A2ii was selected earlier in the year to participate in this taskforce which is charged with overseeing the review of the ICPs and ensuring consistency between the different working groups making revisions to the ICPs.
Out now: A2ii Annual Report October 2014 - September 2015
Find out how the A2ii inspired and supported insurance supervisors during the last 12 months!
Learn more about inclusive insurance and the current regulatory landscape and how the A2ii worked with the IAIS in supporting implementation of the ICPs and supervisory capacity building at a regional level.
Click here to download the report.
If you are interested in receiving a hard copy of the report, please send us an email with your address details to email@example.com.
Report of the IAIS-A2ii Consultation Call on “Risk-based Supervision”
Please follow the link to access the report summarising presentations and discussions from the 11th Consultation Call which took place on 23 July.
Report of the IAIS-A2ii Consultation Call on “Financial Consumer Education”
Please follow the link to access the report summarising presentations and discussions from the 12th Consultation Call which took place on 24 September.
IAIS-A2ii Consultation Call on “Supervisory responses to consumer risks in mobile insurance”
|26 November 2015|
The next Consultation Call will take place on 26 November. Please register here if you are interested in learning more about consumer risks related to mobile insurance services and potential supervisory responses.
If you are not currently on our mailing list and would like to receive the invitation for the next call in November please send an email to: consultation.call[at]a2ii.org.
AIO Life Insurance Seminar
|25 - 27 November 2015| Lome, Togo
The A2ii will be speaking on two panels at this regional West African conference on the topics of (1) financial literacy building of the population and consumer protection and (2) regulatory changes and perspectives for positive growth.
For full agenda for the event, please follow the link.
ASSAL Regional Training Seminar for Insurance supervisors
|1-3 December 2015| Santiago de Chile
The A2ii will moderate a panel on the subject “objectives, powers and responsibilities of the supervisor on inclusive insurance”. Supervisors from Brazil, Columbia and Peru will participate in the panel and share their experiences and the challenges they face when developing responsible inclusive insurance in their countries.