Key Performance Indicators (KPIs) are a powerful tool for supervisors to regularly evaluate the development, soundness and appropriateness of the inclusive insurance sector. They contain valuable information on whether insurers are providing inclusive insurance products that are high-quality, accessible and valuable while being financially sustainable.
While data and KPI reporting may increase the regulatory burden on insurers, they enable insurers to be more responsive and dynamic.
This paper provides some insight into how some common KPIs can help supervisors critically evaluate their policy decisions and inform a review of inclusive insurance business. It summarises potential uses of inclusive insurance KPIs in insurance supervision, and describes the information they provide and how supervisors could interpret them from an inclusive insurance perspective. In conclusion, an overall approach for data collection, analysis and subsequent action is discussed.