A2ii Newsletter

Access to Insurance Initiative Newsletter 10/2017

Welcome to our monthly newsletter, where we update you on the work of the Initiative, inform you about events and publications, and share experiences and learning on inclusive insurance regulation and supervision across jurisdictions.

Visit us at www.a2ii.org.

 

A2ii welcomes new Chair and Governing Council members

The A2ii is delighted to announce Peter Braumüller as the new Chair of its Governing Council and Executive Committee. This follows Jonathan Dixon, the A2iis former Chair’s, departure from the South African Financial Services Board to take up a new position as Secretary General of the IAIS. Peter Braumüller, is the Managing Director, Insurance and Pensions Supervision at the Austrian Supervisory Authority, and brings with him a passion for greater access to insurance and a wealth of experience in senior positions including serving for six years as IAIS Executive Committee Chair. 

We are also delighted to announce three new members of our Governing Council - Mr Ibrahim Kaddunabbi Lubega from the Ugandan Insurance Regulatory Authority, Ms Li Tang from the Chinese Insurance and Regulatory Commission (CIRC) who is also vice-chair of the IAIS’s Implementation Committee and Mr José Gerardo López Hoyo from the Insurance and Surety National Commission of Mexico (CNSF). Along with each bringing considerable expertise, we are also delighted by the breadth of their geographical representation.

 

Recent Events

 

IAIS-A2ii Peer Learning Workshop on Risk-based Solvency and the Use of Early Warning Indicators to Identify Emerging Solvency Risks

16 October, Windhoek, Namibia

This peer learning workshop gave participants an opportunity to share their experiences in assessing and monitoring solvency using a risk-based approach. Case studies were provided by representatives from the National Insurance Commission in Ghana and the Financial Services Board of South Africa. This was followed by a Tour de Table where participants from other supervisors shared their experiences in moving to more risk-based approach in assessing and monitoring the solvency of the insurers in their countries. Supervisors shared:

  • Key factors for successful implementation of a more risk-based approach to solvency assessment and monitoring
  • Challenges in implementing solvency requirements and in the monitoring processes
  • The benefits of moving to a more risk-based approach to solvency assessment and monitoring

Examples of possible interventions when  addressing emerging risks at an early stage
Lessons learnt from implementation

Thirteen representatives from insurance supervisors from six countries across Sub-Saharan Africa attended the workshop. The workshop was held along-side the Financial Stability Institute training seminar on risk-based supervisory practices, risk management and governance and was hosted by the Namibia Financial Institutions Supervisory Authority and was organised by the A2ii and supported by the IAIS. 

 

IAIS Drafting Group on Actuarial Services and its draft paper ‘Proportionate Prudential Requirements in Inclusive Insurance Markets’

The A2ii participated in the IAIS drafting group on Actuarial Services in Inclusive Insurance Markets teleconference on 20 October 2017. Possible country case studies to be included in the application paper were discussed. It is planned for these case studies to be included in the next version of the paper to be discussed at the Round Table Discussions in London on 21 and 22 November.

 

Meeting of the G20 Global Partnership for Financial Inclusion (GPFI), Washington DC, 12 October 2017

A2ii participated in the last meeting of the G20 Global Partnership for Financial Inclusion (GPFI) under the German G20 Presidency. A key topic addressed during the meeting was data protection in digital financial services in the light of the G20 High-Level Principles for Digital Financial Inclusion. Members also discussed the financial inclusion of forcibly displaced persons (FDPs). The incoming Argentine Presidency introduced its priorities for 2018 and discussed these with the GPFI members.

A2ii is an Affiliated Member of the GPFI’s Regulation and Standard-Setting Bodies Subgroup. More information on the GPFI is available here.

 

 

A2ii on regulatory panel at 25th FAIR conference

10 October 2017

Manama, Kingdom of Bahrain

The participants at the panel on regulatory affairs at the 25th conference of the Federation of Afro-Asian Insurers & Reinsurers (FAIR) discussed the supervisor’s role in deepening insurance penetration, and how to balance the opportunities and threats associated with innovative technologies.

The panel was moderated by Dr Kai-Uwe Schanz, Member of the Board of Directors of Trust Re and it included the following participants: Mr Hassan Boubrik, Supervisory Authority of Insurance and Social Welfare, Kingdom of Morocco, Mr P.J. Joseph, Insurance Regulatory and Development Authority of India, Ms Grace Mohamed, Namibia Financial Institutions Supervisory Authority, Mr Arup Chatterjee, Principal Financial Sector Specialist, Asian Development Bank, Philippines and Oscar Verlinden,  Advisor with the A2ii.

 

Insurance Development Forum Microinsurance Working Group Seminar, London, October 16th

The A2ii participated in the first meeting of the Insurance Development Forum (IDF) Microinsurance Working Group which was co-chaired by BlueMarble and the International Cooperative and Mutual Insurance Federation (ICMIF).

The seminar provided an opportunity for members to share case studies of efforts underway to cover more low income people against climate change related risks. All these efforts together are intended to contribute to the target set under the German G7 presidency of insuring 400 million more low income people between 2015-2020 covered against climate change risks.

 The A2ii welcomed reference made by both DFID (Department for International Development) and BMZ (German Ministry for Economic Development and Cooperation) on the need for the group to also give its support, and provide space, for discussions on the development of an enabling regulatory environment. It was emphasised that , without an enabling environment new policies to protect individuals and businesses against climate related risks, might not be feasible or even possible in some markets.

 

Global Action Network Meeting (GAN)

17 and 18 October, Geneva Switzerland

On 17 and 18 October, the A2ii participated in an event organized by the Global Action Network (GAN), and hosted by the International Labor Organization (ILO) to discuss the way forward in achieving greater scale and impact with agriculture insurance. About 30 participants took part including academics, researchers, consultants, donor community, development agencies and industry practitioners. Preliminary discussions centred on how assessment tools created under Global Action Network (GAN) can address challenges inherent to agriculture insurance.  The participants expressed the need for research and data collection in support of the development of agriculture insurance.  The transition of schemes out of pilot phase and sustainability of index based insurance were some of the main topics discussed along with the need for continuous improvement in cooperation between government agencies and regulators.

 

Recent Publications

A2ii Annual Report: Empowering Regulators – Developing Communities (in English, Spanish and French)

On 30 October the A2ii published its Annual Report covering the period from October 2016 – September 2017. In the report, the A2ii identifies the key trends that have marked the reporting period: digital financial inclusion, mass distribution channels, insurance as a tool to support disaster recovery relief and the role of insurance in helping countries implement the 2030 Agenda for Sustainable Development.

 

The report is available here

 

 

Regulatory Impact Assessments: Microinsurance Regulations in Peru and the Philippines

The A2ii and the International Labour Organization (ILO) through its Impact Insurance Facility (IIF) have commissioned this study to assess the impact of microinsurance regulatory frameworks on developing inclusive insurance markets by way of a Regulatory Impact Assessment. The Philippines and Peru have been selected as early pioneers of measures to develop microinsurance via supportive policy and regulatory approaches and considering their unique approaches, policy objectives and local market contexts. The Regulatory Impact Assessments and the accompanying Technical note are available at this link.

 

 

Consultation Call Reports:

  • English summary of the 24th consultation call report

On this call, entitiled “Supervising InsurTech” the participants explored emerging technologies and the implications for insurance supervisors, market and consumers.

The report is available here

  • French and Spanish summary of 23rd consultation call report

The A2ii has published the Spanish and French-language versions of its 23rd consultation call on "Proportionate approaches to disclosure of information". This report, entitled "Approche proportionnée de la divulgation d’informations" (FR) / "Enfoques proporicionales para la divulgación de información", is a translation of the English report which was published previously.

All A2ii consultation call reports can be found on the A2ii website.

 

Spanish versions of the Proportionality in Practice: Disclosure of Information and Distribution now available

On 18 October, the A2ii published Spanish translations of the Proportionality in Practice reports on Disclosure of Information and on Distribution, respectively.

Proportionality in practice: Disclosure of information draws on the experiences of Brazil, Pakistan, Peru and El Salvador and examines the practical aspects of disclosure in which supervisors adopt proportionate regulation to encourage the industry to offer inclusive insurance while ensuring consumer protection.

Proportionality in practice: Distribution examines the practical aspects of distribution where insurance supervisors are flexible and adjust certain supervisory requirements to encourage the insurance industry to offer insurance to the underserved or those excluded from insurance services while protecting consumers. It draws on the experience of Ghana, Mexico and the Philippines. 

Knowledge category: 

Access to Insurance Initiative Newsletter 9/2017

Welcome to our monthly newsletter, where we update you on the work of the Initiative, inform you about events and publications, and share experiences and learning on inclusive insurance regulation and supervision across jurisdictions.

Visit us at www.a2ii.org.

 

Recent Events

Inclusive Insurance Training Programme for Supervisors in Sub-Saharan Africa

4-8 September 2017, Dar es Salaam, Tanzania

This training programme exposed insurance supervisors to how sound supervisory principles can be applied in a manner that encourages the development of an inclusive insurance market. The participants learned about the role of the supervisor and prudential and market conduct issues in overseeing inclusive insurance markets.

The training was based on the IAIS Application paper on the regulation and supervision of inclusive insurance markets and IAIS-A2ii Core Curriculum for Insurance Supervisors: Regulation and Supervision Supporting Inclusive Insurance Markets.

Throughout the interactive sessions, the participants shared their experiences in group discussions and activities. Practical examples to supervising inclusive insurance included:

  • Case studies and presentations from Ghana and Tanzania on their experiences in developing a supervisory approach to support inclusive insurance;

  • Supervisory approaches to mobile insurance in Ghana;

  • Index-based agricultural insurance in Kenya.

The participants worked on action plans to tackle specific challenges in supporting inclusive insurance markets in their home countries. These action plans are aimed to ensure that participants put lessons learned during the training into practice upon return home to their supervisory authorities.  

34 representatives from insurance supervisors from 11 countries across Sub-Saharan Africa attended the programme hosted by the Tanzanian Insurance Regulatory Authority (TIRA), and jointly organised by the Toronto Centre and the Access to Insurance Initiative (A2ii) and supported by the International Association of Insurance Supervisors (IAIS). 

 

24th A2ii-IAIS Consultation Call on 'Supervising InsurTech'

21 September 2017

On this call, emerging technologies and how they affect the insurance market, consumers and supervisors were discussed. Stefan Claus, Bank of England, Didier Warzee, ACPR and Denise Garcia, CNSF, Mexico on the English, French and Spanish call, respectively, presented the results of an IAIS stocktaking study on FinTech Developments in the Insurance Industry concluded earlier in the year. 

Emerging technological innovations in the insurance value chain are confronting supervisors with new questions. Consumers’ needs have evolved, distribution channels have digitalised, the Internet of Things is affecting how risk is underwritten and predicted, and Peer-to-Peer technology is set to affect claims management.

All these aspects hold great promise for extending access to insurance for those previously underserved by more traditional business models. However, extending the reach of insurance coverage more widely and the complexity of some of the business models used also presents a number of risks which must be addressed.

On the calls, additional country case studies were provided by UK Financial Conduct Authority and BaFin (German supervisory authority). Fifty-eight insurance supervisors from 25 countries participated.

For the presentations in English, French or Spanish click here.

A report summarising the discussions from all 4 calls will be published later in the year.

 

A2ii hosts a regulatory panel discussion on Micro, Small and Medium Enterpreises

21-22 September 2017, Ulaanbaatar, Mongolia

On 21 September, the A2ii hosted a panel discussion at the two-day Asia Learning Session and Public Private Dialogue (PPD3) for Asian regulators on the topic of Inclusive Insurance for MSMEs (Micro, Small and Medium Enterprises) in Ulaanbaatar, Mongolia. The A2ii panel at this event focused on regulatory aspects that can enable insurance for micro and small enterprises, and was an exchange between participants from Indonesia, the Philippines, and the SECP of Pakistan. 123 attendees were present.

The session focused on ways in which proportionate approaches to regulation can help stimulate insurers to offer products for small businesses, and what kind of framework conditions regulators can set up to unlock the potential of a well-insured entrepreneurial sector. Panellists noted how important it is to have strong inter-institutional cooperation, led from a high level of government, which can align all stakeholders behind a single vision of inclusion. A close, enabling relationship between regulator and industry is also a key to exploring the potential of this market.

The PPD3 meeting was co-organised by the Mutual Exchange Forum on Inclusive Insurance (MEFIN), GIZ RFPI, GIZ Mongolia, and the Financial Regulatory Commission of Mongolia. 

Find out more about the event and access Oscar Verlinden's (@Oscar_A2ii) presentation at the panel by clicking here.

 

IAIS Implementation Committee Meeting

27 September 2017

On September 27th the A2ii participated in the IAIS implementation committee conference call. The committee discussed its draft roadmap for 2018-2019 and an updated draft of the strategic review of the IAIS’s Coordinated Implementation Framework.  The Coordination Framework outlines the IAIS’s strategic approach to implementation and was last published in 2013.

This update does not replace the original version, which endorses a regional approach to implementation and working through partners, but supplements it.

 

Recent Publications

IAIS Application Paper on the Regulation and Supervision of Mutuals, Cooperatives and Community-Based Organisations (MCCOs)

20 September 2017

This paper, published on September 20th, provides guidance to supervisors on how the ICPs can be implemented in a proportionate manner to support the involvement of MCCOs in providing inclusive insurance. The Access to Insurance Initiative (A2ii), as the IAIS´s implementation partner on financial inclusion, was a member of the drafting group.

The paper highlights the dual role that MCCOs can play in an insurance market both as an underwriter of the risk as well as providing administrative, educational and distribution services. The A2iis on the ground experiences working with supervisors as well as a supervisor only WebEx call organised by the A2ii on the topic as part of its Consultation Call series were key inputs to the drafting process. 

To access the Paper click here.

 

Announcements

 

Staffing Update

We are very happy to welcome Mohammed Rieaz Khan as Junior Advisor and Dunja Latinovic as Communications Advisor to our team.

Dunja brings to the A2ii years of experience in communications, film production and media development. She hopes to strengthen the A2ii with innovative communications practices that drive engagement, interaction and dialogue.

Mohammed is on secondment from the Central bank of Fiji for a period of 12 months. As an experienced supervisor with years of supervision experience in the insurance sector, Mohammed hopes to strengthen the A2ii’s knowledge base, as well as build capacity for the Asian region.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Knowledge category: 

Access to Insurance Initiative Newsletter 8/2017

Welcome to our monthly newsletter, where we update insurance regulators and supervisors on the work of the Initiative, inform you about events and publications, and share experiences and learning across jurisdictions.

Visit us at www.a2ii.org.

 

Recent Events

Regional Learning Sessions: Inclusive Insurance Business Models for Africa
29-30 August, Kigali Rwanda

Around 80 representatives from the insurance industry, insurance supervisors and development agencies from Eastern and Southern Africa and further afield gathered in Kigali to share insights on inclusive insurance business models serving low-income market segments in Africa.

The first panel focused on the landscape of microinsurance in Africa where the Munich Re foundation gave an overview of microinsurance in Africa, Access to Finance Rwanda provided insights into the microinsurance market in Rwanda and the A2ii gave an overview of inclusive insurance regulatory frameworks in Sub-Saharan Africa.

The A2ii also moderated a panel on inclusive insurance regulation. On the panel insurance supervisors from Kenya and Zimbabwe shared their experiences around supporting the development of inclusive insurance markets. Cenfri also presented an overview of different regulatory approaches to supporting responsible innovation. The discussion focused on:

  • Different approaches to formalisation of informal insurance providers

  • Supervising life and non-life business and the possibility of issuing composite microinsurance products

  • The challenge of keeping exclusions for microinsurance policies minimal whilst at the same time using exclusions to manage product risks during the product approval process.

  • Going beyond regulatory frameworks to develop tools for the supervision of microinsurance business

  • The role of the supervisor in supporting innovation and developing the market whilst at the same time protecting consumers in the context of mobile insurance when products reach a large number of consumers in a short time but can be quickly withdrawn from the market.

A key message from the learning sessions for insurance supervisors is that supervisors need to create the framework in which the industry operates but they must leave the industry to fill in the rest of the picture.

The learning sessions also covered a number of other topical issues in inclusive insurance including: strategy and business modelling, health insurance, agricultural insurance, using data to gain insights on client value and business viability, distribution and technology, consumer education.

The event was organized and hosted by Access to Finance Rwanda, Munich Re Foundation and Rwanda Insurers Association (ASSAR) with support from ILO’s Impact Insurance Facility, Centre for Financial Regulation and Inclusion (Cenfri) and Financial Sector Deepening Africa (FSDA), Microinsurance Network and Access to Insurance Initiative (A2ii).

IAIS Product Oversight Drafting Group Meeting 
28 and 29 August 2017, Hyderabad, India

The drafting group for the IAIS Application Paper on Product Oversight in Inclusive Insurance met in Hyderabad, India. The working group, including the A2ii who participated remotely, discussed the comments received during the public consultation and proposed resolution of the comments. The revised draft will be shared with the IAIS Financial Inclusion Working Group and Market Conduct Working group. A stakeholder feedback session on the proposed resolution of feedback from the public consultation will also be held before finalising the paper.

FSD Insurance Community of Practice Workshop on InsurTech and Innovation in Developing Insurance Markets
31 August, Kigali Rwanda

The A2ii Regional Coordinator for Sub-Saharan Africa was invited to attend the Financial Sector Deepening (FSD) Africa workshop on insurtech and innovation which was held along-side the learning sessions on inclusive insurance in Kigali, Rwanda coordinated by Cenfri.

This workshop explored how emerging insurtech models can address challenges to developing inclusive insurance markets.  FSD representatives from Kenya, Mozambique, Rwanda, Tanzania, Uganda and Zambia gave input on innovative insurance products that they are supporting in the market. Representatives also shared their needs around research and data gathering to support the development of inclusive insurance their markets. The need for more research around inclusive insurance regulatory frameworks across Africa to support inclusive insurance market development was highlighted.

 

Recent publications

Spanish version of A2ii publication of Proportionate Regulatory Frameworks in Inclusive Insurance

The A2ii has just published a Spanish translation of its milestone publication 'Proportionate Regulatory Frameworks in Inclusive Insurance: Lessons from a Decade of Microinsurance Regulation'. In this publication, the A2ii looks back at what supervisory approaches have been undertaken since the first microinsurance regulations were put in place then, and draws lessons from the past, as well as looks forward and new trends in inclusive insurance markets and supervisory challenges. The Spanish translation can be found here.

23rd Consultation Call Report published

The report summarises the discussion on the 23rd consultation call on "Proportionate approaches to disclosure of information", the report can be found here.. On the 23rd consultation call we examined the practical aspects of proportionate disclosure regulation, which can encourage the industry to offer inclusive insurance while ensuring consumer protection. The call also leveraged the lessons learned from the recent A2ii study, which was commissioned by the IAIS, entitled “Proportionality in practice: Disclosure of information” which can be downloaded for free here.

 

Other News

Countries from Asia, East and West Africa and Eastern Europe to participate in the Inclusive Insurance Innovation Lab

The selection process for countries to participate in the Inclusive Insurance Innovation Lab has come to an end, with Ghana (West Africa), Kenya (East Africa), Mongolia (Asia) and Albania (Eastern Europe) being offered a space in the Lab.

The call for applications generated an overwhelming response from supervisors and all applicants were invited to participate in a selection call. The final composition of the group had to balance a wide variety of factors, including regional diversity and diversity of experience with inclusive insurance. The insurance supervisors of the four selected countries will now be supported in putting together their country teams for the Lab process. These teams will consist of around eight senior insurance stakeholders each. In addition to the insurance supervisors, country teams will include the main supply- and demand-side stakeholders in a country.

The Inclusive Insurance Innovation Lab is scheduled to begin in November. Guided by experienced change facilitators, the four country teams will initially explore what the barriers are to greater inclusive insurance market growth in their countries. In a second step, the teams will develop innovative solutions that can increase the uptake of insurance by vulnerable people and businesses.

For more information on the Inclusive Insurance Innovation Lab, please click here or contact anke.green@a2ii.org.

Knowledge category: 

Access to Insurance Initiative Newsletter 7/2017

Welcome to our monthly newsletter, where we update insurance regulators and supervisors on the work of the Initiative, inform you about events and publications, and share experiences and learning across jurisdictions.

Visit us at www.a2ii.org.
 

A2ii establishes regional hub in Latin America

On 1st July 2017, the A2ii opened a new regional office for Latin America in Rio de Janeiro, Brazil. The office is kindly being hosted by the Brazilian Superintendence of Private Insurance (SUSEP). This Latin American hub is another key milestone in bringing the A2iis regional implementation strategy to life, following on from the success of the A2ii’s first regional hub launched in Sub-Saharan Africa in September 2016. It also responds to requests from supervisors in the Latin American region for increased capacity building support and will enable the A2ii to better tailor the support it provides to regional needs and local market realities. In developing its work plan for the region the A2ii will be working very closely with the IAIS and the ASSAL (Asociación de Supervisores de Seguros de América Latina) thus bringing to life the MOU signed by the three organisations back in 2015.

Ms. Regina Simões, formerly SUSEP and an active member of a number of IAIS working groups, has taken up the position as A2ii regional coordinator and will be based in Rio Janeiro, Brazil.
 

Recent Events

AAISA/ IAIS/A2ii Meeting for Insurance Supervisors in Africa
|26-27 July 2017|


The A2ii’s Sub-Saharan African regional coordinator Janice Angove supported the General Assembly meeting of the Association of Africa Insurance Supervisors (AAISA) in Pretoria, South Africa hosted by The Financial Services Board. Representatives of the secretariat of the AAISA and twenty-three delegates from supervisors across Sub-Saharan Africa participated in this meeting.

The participants discussed the articles in the proposed constitution of the AAISA, the work plan and budget for 2017-2018. The General Assembly adopted the Constitution of the AAISA and the budget for membership fees of the association. The General Assembly also expressed appreciation to the Government of Cameroon for its support in setting up the headquarters of the AAISA in Yaoundé.

The A2ii provided supervisors with an overview of the draft regional implementation plan and in particular the results of its work to identify capacity building needs and priorities. Participants were given an opportunity to give input on the overall objectives of the regional implementation plan and priority themes and topics for capacity building activities for the A2ii in Sub-Saharan Africa in 2018.

Conor Donaldson of the International Association of Insurance Supervisors (IAIS) gave an update on upcoming IAIS papers and assessment and implementation activities, including the upcoming self-assessment review on inclusive insurance. The importance of the involvement of supervisors in Sub-Saharan Africa in the activities supported by the IAIS was emphasised during the discussion as was the continued commitment of the IAIS and A2ii to support supervisors in Sub-Saharan Africa in developing capacity.
 

23rd A2ii-IAIS Consultation Call on "Proportionate approaches to disclosure of information”
|20 July 2017|

Fifty three supervisors from Latin America, Asia Pacific, and African countries participated in the 23rd A2ii-IAIS Consultation Call on Proportionate approaches to disclosure of information held on 20 July 2017. The call examined practical aspects of proportional disclosure regulation and how the goal of an approach which both encourages the industry to offer inclusive insurance whilst protecting the more vulnerable inclusive insurance consumer can be achieved.Furthermore, this topic leveraged the lessons learned from the recent A2ii study, which was commissioned by the IAIS, titled “Proportionality in practice: Disclosure of information”.To download the presentations, please click here and the report will be available on our website soon.
 

Recent Publications

Report of the 22nd A2ii – IAIS Consultation Call “The Importance of Insurance Regulation in Disaster Resilience" is now available in Spanish

The 22nd Consultation Call, held on 18 May 2017, addressed the topic of the importance of insurance regulation in disaster resilience. This report explored key questions around disaster resilience, such as the scale and nature of disaster risk exposure, specific laws and regulations facilitating resilience and existing good practices from various jurisdictions.

The report is available in English and Spanish. The report in French will be available soon.

Videos of the 10th Consultative Forum on Microinsurance Regulation, Uganda is now available in French

The A2ii, African Insurance Organisation, IAIS, and the Microinsurance Network held its 10th Consultative Forum on “Scaling up agricultural index insurance in Africa: Building disaster resilience of smallholder farmers” on 24 -25 May 2017 in Kampala, Uganda.

The videos of the 10th Consultative Forum are available in English and French, please visit A2ii Youtube’s channel for more videos and please subscribe.

Knowledge category: 

Access to Insurance Initiative Newsletter 6/2017

Welcome to our monthly newsletter, where we update insurance regulators and supervisors on the work of the Initiative, inform you about events and publications, and share experiences and learning across jurisdictions.

Visit us at www.a2ii.org.

Recent Events

MiN’s Annual Member meeting
|27-28 June 2017, Luxemburg|

The A2ii’s Anke Green presented an interactive session on the role of insurance supervisors in market development at the Microinsurance Network’s annual June Member Meeting in Luxembourg. During this session, attendees were asked to come up with answers to a number of questions, including what market participants see as the supervisor’s role in market development.

MiN members presented to approximately 70 attendees on the role of inclusive insurance in risk reduction, including several first-hand accounts of local initiatives and their experiences in improving insurance coverage in underserved segments of the population.

More information on the MiN June Member Meeting can be found here.

10th Annual IAIS Global Seminar
|29-30 June 2017, Old Windsor, London|

Around 280 IAIS members and stakeholders came together for this two day event in Old Windsor, London. Panel discussions ranged from systemic risk and International Capital Standards to conduct of business supervision and sustainable insurance.

Hannah Grant, A2ii took part in a panel moderated by Jonathan Dixon, South African FSB discussing the role of insurance supervisors in market development. Following a brief input presentation by the A2ii, panellists from the Bank of England, Financial Stability Institute, MicroEnsure and the Chinese Insurance and Regulatory Commission (CIRC) discussed the important role that insurance supervisors can play in developing their markets. All panellists agreed the insurance supervisor has an important and lead role in market development. However, the type of intervention or support required is heavily dependent on the local market context with supervisors from more developed countries playing an important role in fostering and enabling competition; whereas supervisors from developing and emerging countries instead needing to focus their efforts on encouraging industry to enter the market through enabling market access and building consumer confidence.

More information on IAIS global seminar can be found here and videos of each of the sessions will be available from mid-July.

Selection calls with applicants to the Inclusive Insurance Innovation Lab have started     
The call for application for A2ii’s new capacity-building tool, the Inclusive Insurance Innovation Lab, generated an overwhelming response from supervisors. Applications were received from insurance supervisory authorities in Africa, Asia, Central and Eastern Europe, the Gulf region, Latin America and the Pacific. The A2ii and its partner on this project, the Global Leadership Academy, are in the process of conducting selection calls with all applicants. A final selection will be made before the end of July.

The insurance supervisors of the four selected countries will then be supported in putting together their country teams for the Lab process. These teams will consist of around eight senior insurance stakeholders each. In addition to the insurance supervisors, country teams will include the main supply- and demand-side stakeholders in a country.

The Inclusive Insurance Innovation Lab is scheduled to begin in November. Guided by experienced change facilitators, the four country teams will initially explore what the barriers are to greater inclusive insurance market growth in their countries. In a second step, the teams will develop innovative solutions that can increase the uptake of insurance by vulnerable people and businesses.

For more information on the Inclusive Insurance Innovation Lab, please click here or contact Anke Green: anke.green@a2ii.org.

 

Recent Publications

A2ii releases two reports showing practical examples and lessons on proportionate application of the Insurance Core Principles
The first report “Proportionality in practice: Distribution" draws on the experiences of Ghana, Mexico and the Philippines. It examines the practical aspects in which insurance supervisors are flexible and adjust certain supervisory requirements in order to encourage the insurance industry to offer insurance to the underserved or those excluded from insurance services while protecting consumers.

The second report “Proportionality in practice: Disclosure of information” draws on the experiences of Brazil, Pakistan, Peru and El Salvador. It examines the practical aspects of disclosure in which supervisors adopt proportionate regulation in order to encourage the industry to offer inclusive insurance while ensuring consumer protection.

Download the reports here.

Report of the 22ndA2ii-IAIS Consultation Call “The Importance of Insurance Regulation in Disaster Resilience”
The report from the 22nd Consultation on “The Importance of Insurance Regulation in Disaster Resilience”, which took place on 23 May 2017, is now available in English. The Spanish and French version will be available on our website soon.

Download the report here.

Report of the IAIS-A2ii-CIMA Mobile Insurance Conference
In February 2017, the A2ii in partnership with the Inter-African Conference on Insurance Markets (CIMA) hosted a workshop in Abidjan, Côte d'Ivoire. It was supported by BMZ, DGIS, Financial Sector Deepening Africa (FSD Africa), UK Aid and Munich Re Foundation.

The conference brought together 100 participants from 26 countries across the African continent for two days of intensive discussions on how to overcome barriers and enhance access to insurance for low-income populations through the use of mobile technologies. Representatives from insurance, telecommunications and payment systems regulatory authorities, as well as insurers, mobile network operators, technical service providers and development organisations actively considered the roles, activities, current regulatory provisions and future regulatory needs in mobile insurance, as well as innovation and the use of digital technology more broadly.

Read the conference outcomes in this report here.

Videos of 10th Consultative Forum on Microinsurance Regulation, Uganda
The A2ii, African Insurance Organisation, IAIS, and the Microinsurance Network held its 10th Consultative Forum on “Scaling up agricultural index insurance in Africa: Building disaster resilience of smallholder farmers” on 24 -25 May 2017 in Kampala, Uganda.

The videos of the 10th Consultative Forum are available in English, please visit A2ii Youtube’s channel:
https://www.youtube.com/playlist?list=PLvRCyfN5sW3iReIfKGKVqXwEVGmbzuDqm

Knowledge category: 

Access to Insurance Initiative Newsletter 5/2017

Welcome to our monthly newsletter, where we update insurance regulators and supervisors on the work of the Initiative, inform you about events and publications, and share experiences and learning across jurisdictions.

Visit us at www.a2ii.org.

 

Announcements

A2ii launches the Inclusive Insurance Innovation Lab – Applications now being accepted

Applications are now open for insurance supervisors to apply for participation in the Inclusive Insurance Innovation Lab (‘Lab’). This unique new A2ii capacity building tool has been developed in partnership with the Global Leadership Academy (GLAC). The Lab is a sequence of national and international workshops for insurance supervisors and other key insurance stakeholders in a country. It aims to promote multi-stakeholder collaboration, learning from international peers and the development of innovative solutions that will increase uptake of insurance in participating countries.

The Lab will bring together four country teams from different world regions, consisting of around eight senior insurance stakeholders each. In addition to insurance supervisors, country teams will include the main supply- and demand-side stakeholders in a country.

Guided by experienced change facilitators, the four country teams will initially explore what the barriers are to greater inclusive insurance market growth in a particular country. In a second step, the process will support the country teams to develop innovative solutions that can increase the uptake of insurance by vulnerable people and businesses.

Insurance supervisors will take the lead in applying for the Lab. The deadline for applications is 20 June 2017. Once selected, with support from the A2ii and GLAC, the supervisors will coordinate the selection of the country team.

Interested in finding out more? For more details on the Inclusive Insurance Innovation Lab, please click here or contact anke.green@a2ii.org (Tel: +49 6196 792612).

 

Recent Events

Global Partnership for Financial Inclusion (GPFI) Forum and Plenary

2-4 May 2017, Berlin, Germany

Approximately 250 participants came together to discuss the topic of ‘digital financial inclusion’ at the Global Partnership for Financial Inclusion (GPFI) Forum on May 2nd and 3rd in Berlin. The GPFI, established in 2010, is the G20’s implementation arm on financial inclusion. The meeting was hosted by the German G20 Presidency and welcomed delegates from government authorities, development agencies as well as a number of academics from around the world. The conference explored they key priorities of the German GPFI presidency, namely: Africa, excluded groups (women, youth and forcibly displaced persons), SMEs, de-risking and digital financial inclusion.

The A2ii presented on a panel entitled ‘Balancing Innovation and Risk to Achieve Digital Financial Inclusion – New Business Models, New Risks’. The panel discussed the results of the recent Responsible Finance Forum (see April A2ii newsletter) on data protection challenges of digital financial inclusion and also a draft report on ‘Alternative Data Transforming SME Finance’. As the only representative of the insurance sector on the panel, the A2ii highlighted the more recent growth of InsurTech relative to longer established digital innovations in the banking sector with the majority of inclusive insurance initiatives occurring around mobile insurance. With respect to potential data protection concerns, the A2ii highlighted the risk of financial exclusion arising through the greater availability of data, which could result in more granular risk pooling and thus low income consumers being priced out of the market. Added to this, the potential for data being used to micro-target potential insurance consumers with products only being offered to ‘more profitable’ target groups was also mentioned.

Overall, the key recurring themes of the Forum were the incredible potential of digital financial inclusion, the need to act on this potential now and the need for capacity building for all key stakeholders, particularly supervisors, to ensure these digital innovations happen in a safe and sustainable manner to the benefit of all.

The Forum was then followed by the GPFI Plenary on May 4th. This meeting was restricted to delegates from G20 government authorities, the GPFI, implementing partners and affiliated members such as the A2ii, and welcomed around 60 participants. The considerable amount of progress made under the German GPFI G20 Presidency in such a short period of time was highly commended, with a number of papers including an updated GPFI Financial Inclusion Action Plan tabled for endorsement. Importantly, the Forum also provided an opportunity for the GPFI to exchange with other key G20 work streams, including Sherpas Track, Finance Track and Business 20, thus enabling the GPFI to ensure its work is well coordinated and has a maximum impact on the overall G20 agenda.

 

IAIS Product Oversight Drafting Group Meeting 

15 May 2017, Ljubljana, Slovenia

This IAIS drafting group met to discuss the feedback from other IAIS working groups on their draft applications paper on product oversight. This paper intends to provide guidance to supervisors, regulators and policymakers when considering, designing and implementing regulations and supervisory practices on product oversight in inclusive insurance markets.

It is hoped that the paper should be ready to be publically consulted over the summer. As a member of the drafting group the A2ii has drafted chapter on ‘Use of standardised products and product features’ and ‘Ongoing oversight’ as well as provide a number of case study examples.

 

IAIS Financial Inclusion Working Group (FIWG) Meeting

16 May 2017, Ljubljana, Slovenia

Supervisors at the meeting discussed and compared recent developments in inclusive insurance supervision in their jurisdictions. The draft IAIS Applications Paper on Product Oversight and Digital Financial Inclusion were also discussed. The A2ii updated participants on its recent activities and also those upcoming later in 2017. Initial discussions also took place on the Financial Inclusion Working Group workplan in 2018 with financial consumer education proposed as a potential new topic for the group.

The next meeting of the IAIS Financial Inclusion Working Group will take place in Lima, Peru on November 10th alongside the next Consultative Forum (November 6th) and the Microinsurance Conference (November 7th to 9th).

 

Inclusive Insurance and Microinsurance Conference

17 May 2017, Ljubljana, Slovenia

This Inclusive Insurance and Microinsurance Conference was brought together under the leadership of the Slovenian Insurance Agency with the aim of stimulating discussion on the potential for inclusive insurance in the Central and Eastern Europe and the Transcaucasian (CEET) region. About 100 representatives from supervisory authorities, the industry and others involved in inclusive insurance debated whether the business models and supervisory approaches applied in microinsurance in Africa, Asia and Latin America could help increase the very low insurance penetration rates currently seen across the CEET region.  In particular, the significant uninsured exposure to national catastrophes was cited by a number of speakers as a key area that needed to be addressed.

Peter Braumuller, Austrian Financial Markets Authority and member of A2iis Governing Council in his key note address highlighted the need for all stakeholders to work together in addressing the insurance protection gap in the region. In particular, with reference to natural catastrophes he highlighted the need for policymakers to carefully reflect on the impact of their disaster recovery relief efforts so as not to undermine individuals’ incentives to take out policies and potentially hinder private market growth. 

As part of the introductory panel, the A2ii shared its research on differences in regulatory and supervisory approach taken by supervisors aiming to make their markets more inclusive. Of the 20 countries that have implemented a different approach for microinsurance, with a similar number working on it, it was noted that none are located in the CEET region. However, from the ensuing discussion the general feeling was that low demand, rather than regulatory barriers or affordability is currently the main challenge for increasing insurance penetration in the region. 

For more information on the conference including the presentations, please go to the conference website: http://inclusiveinsurance.eu/

 

IAIS Digital Financial Inclusion Working Group Meeting

18 May 2017, Ljubljana, Slovenia

This IAIS drafting group met to discuss their draft applications paper on digital financial inclusion. This Application Paper intends to provide guidance to supervisors, regulators and policymakers when considering, designing and implementing regulations and supervisory practices in respect of the use of digital technology. At the drafting group meeting final edits were discussed to prepare the paper for internal consultation with relevant IAIS working groups at the end of May.

 

22nd A2ii-IAIS Consultation Call: “The Importance of Insurance Regulation in Disaster Resilience”

18 May 2017

On the 22nd Consultation Call, technical experts stressed the important role insurance can play in enhancing resilience against natural disasters at the (sub) sovereign level. They furthermore stated the need for sound and effective insurance regulation in order to facilitate the deployment of insurance sector capacities including insurance laws and regulations, tax laws and disaster prevention and response policies, among others. In addition, possibilities for coordination between the various stakeholders to develop access to insurance coverage and risk resilience were discussed. In this regard, participants were informed about the establishment of the Insurance Development Forum (IDF) as a platform to exchange knowledge and build cooperation for governments, industries and civil societies to enhance resiliency (and sustainable development).

Representatives from the Moroccan and Mexican supervisory authorities shared their experiences with insurance against natural catastrophes on a sovereign level and the important role regulation plays in this field. In Mexico, for example, a software was developed to calculate the probable maximum losses (PML) from earthquakes and the insurance premium. Based on this information the capital requirements and reserves for catastrophic risks can be calculated. In Morocco, a mechanism to cover the consequences of catastrophic events was established in 2016.

Over the course of 4 calls held in English, French and Spanish, a total of 48 insurance supervisors from 26 countries participated and discussed important questions around the topic, such as why supervisors should consider sub-sovereign and sovereign insurance and what the benefits are compared to insurance on the household level.

The presentations can be found here and a full report summarising the call will be available soon.

 

10th Consultative Forum on ‘Scaling up agricultural index insurance in Africa: building disaster resilience of smallholder farmers’

24-25 May 2017, Kampala, Uganda

During the afternoon of 24 May and the morning of 25 May, over 90 supervisors, insurance industry representatives and other stakeholders from 30 countries across Africa gathered in Kampala Uganda to discuss achieving scale, sustainability and ensuring client value in agricultural insurance for small scale farmers.

The first day saw panellists from the Insurance Regulatory Authority Uganda, Acre Africa and Swiss Re share their experiences around overcoming the challenges in achieving scale, product affordability and managing basis risk for agricultural index insurance. This was then followed by a lively fish bowl discussion on the same topic.

The second day featured a workshop on product design and the product approval process. To help inform the discussions consultant Agrotosh Mookerjee shared his technical expertise from his work in the African and Asian regions helping structure and design agricultural index based products. A case study on product approval was also provided by Joseph Ownor from the Kenyan Insurance Regulatory Authority based on the Kenyan draft index based insurance regulations. It was noted that their product approval guidelines cover both the financial viability and management of basis risk, fair product features and disclosures to customers.

It was evident from the Forum that there is growing interest in agricultural and in particular index insurance in the region; however despite recent innovations there is still a way to go before schemes achieve scale and become sustainable. More also needs to be done to ensure that insurance products better meet the needs of small scale farmers. A number of practical suggestions were made on ways some of these challenges can be overcome including:

  • Establishing public-private partnerships
  • Leveraging off new technologies in both product design and distribution
  • Using trusted distribution channels like agricultural input providers
  • Developing clear policy and regulatory frameworks which permits a broad range of distribution channels including agricultural input providers such as seed suppliers
  • Balancing the objectives of the wide range of stakeholders in the value chain and ensuring that all get ‘value’ from their involvement
  • Bundling insurance with other value added services such as health and life products to meet a wider range of small holder farmers’ needs
  • Integrating insurance with other risk management techniques to increase farmers’ overall resilience
  • Avoiding the use of jargon when explaining products to farmers and instead use language that farmers understand focusing on the ‘output’ or cover provided.

The forum was jointly organised by the African Insurance Organisation (AIO), A2ii, IAIS and Microinsurance Network. All event materials are available on the A2ii website and a conference report will be available in June.

The 10th Consultative Forum took place alongside the 44th Conference of the AIO. The theme of the AIO conference was “Furthering the Financial Inclusion Agenda if African Nations through Insurance” and a number of perspectives on expanding insurance markets and using innovative approaches to reach unserved customers were discussed. Jonathan Dixon, Deputy Executive Officer South African Financial Services Board and Chair of A2iis Governing Council spoke on panel examining regional harmonisation of regulation. The A2ii also attended the Association of African Insurance Supervisory Authorities (AAISA) meeting and gave an update on upcoming IAIS-A2ii activities for Sub-Saharan Africa for 2017.

Participate in our Events!

IAIS Global Seminar

29-30 June 2017, London, United Kingdom

The 10th IAIS annual Global Seminar will take place on 29-30 June in Old Windsor, UK. This two-day event serves as an opportunity for IAIS Members and stakeholders to receive updates and exchange views on IAIS activities and initiatives, as well as discuss global insurance trends. Topics will include ComFrame as a comprehensive framework and structure, an activities-based approach to systemic risk, promoting good conduct of business in insurance distribution, digitalisation in the insurance sector and sustainable insurance, among others. More information on the event can be found here.

23rd A2ii-IAIS Consultation Call

20 July 2017

Our next Consultation Call will be held on 20 July with the topic still to be determined. We are always keen to hear preferred topics from supervisors and encourage you to submit any requests for future calls either to consultation.call@a2ii.org or through our website.

Microinsurance Learning Session

29-30 August 2017, Kigali, Rwanda

At the end of August, the A2ii will co-host a multi-stakeholder Microinsurance Learning Session with the Munich Re Foundation, Access to Finance Rwanda, FSD Africa, Cenfri and the International Labour Organisation in Kigali, Rwanda. More information on how to register for the event will be available on our website soon.

 

Knowledge category: 

Access to Insurance Initiative Newsletter 4/2017

Welcome to our monthly newsletter, where we update insurance regulators and supervisors on the work of the Initiative, inform you about events and publications, and share experiences and learning across jurisdictions.

Visit us at www.a2ii.org.

 

Recent Events

Responsible Finance Forum VIII on "Opportunities and Risks in Digital Financial Services - How do we best Protect Consumers and their Privacy?"

27 - 28 April, Berlin, Germany

Last week A2ii attended the 8th Responsible Finance Forum, which discussed the Opportunities and Risks in Digital Financial Services and how to protect consumer data and privacy. This year’s Forum was hosted by the German Federal Ministry for Economic Cooperation and Development (BMZ), preceding the Forum and Plenary of the G20 Global Partnership for Financial Inclusion (GPFI) on 2-4 May 2017 in Berlin. The Forum is co-organized by The Better Than Cash Alliance, Consultative Group to Assist the Poor (CGAP), Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH, International Finance Cooperation (IFC), United Nations Capital Development Fund (UNCDF) and the World Bank.

Digital Financial Services hold enormous potential for financial inclusion, having enabled 700 million adults access to financial services between 2011 and 2014 alone. At the same time, digitization in the financial sector raises new challenges related to data protection and privacy. These specific challenges are particularly related to the usage and (often automated) processing of alternative data or big data for decision-making processes in the financial services. The event sought to identify areas for action and investment to advance responsible finance.

Jonathan Dixon, Chair of the IAIS Implementation Committee and Chair of A2ii and Deputy Registrar at the Financial Services Board South Africa, spoke about the opportunities for insurance, how having more risk information can support underwriting and how efficiency can be improved and that Digital Financial Services allow creating incentives for consumers to change their behavior, but also talked about the consumer protection risks and the risk of financial exclusion for vulnerable customers and the new players that emerge in the market. Supervisors need to ensure the fair treatment of customers and concluded that supervisors need to better understand the risks and emphasized that public-private cooperation between the regulator and the industry is important.

Peter van den Broeke from the IAIS Secretariat highlighted the need for cooperation between the insurance supervisor, the data protection regulator and other regulators. Insurance supervisors need to look at what data is collected and how it is used to calculate premiums. To support insurance supervisors the IAIS recently published a report on FinTech Developments in the Insurance Industry and is currently developing an Application Paper on the Use of Digital Technology in Inclusive Insurance. As member of the IAIS drafting group on the Use of Digital Technology in Inclusive Insurance, the A2ii supports the development of this Application Paper.

 

ASSAL Conference on “Pension System: Challenges and Perspectives” and ASSAL-FSI-IAIS High-Level Meeting on “Global Insurance Standards and Supervisory Priorities in the Americas”

17-20 April 2017, Santiago, Chile

On 17-18 April, the A2ii attended a conference on “Pension System: Challenges and Perspectives. The role of Pension Fund Managers and Insurance Companies”, which was jointly organised by the Association of Latin American Insurance Supervisors (ASSAL), the International Association of Pension Fund Supervision Agencies (AIOS) and the International Association of Insurance Supervisors (IAIS) in Santiago, Chile. The event looked at challenges and perspectives relating to pension systems, such as mechanisms for mitigating the longevity risk and adjustments to current parameters of pension systems, among other topics.

In the context of the ASSAL Conference, the Financial Stability Institute (FSI), jointly with ASSAL and the IAIS, organised a “High-Level Meeting on Global Insurance Standards and Supervisory Priorities in the Americas” on 20 April. Besides presenting and discussing insurance regulatory reforms and implementation in the region, the seminar tackled specific topics of particular relevance for Latin American countries such as insurance capital standards for internationally active insurance, reinsurance supervision and InsurTech. The seminar was attended by almost 50 insurance supervisors from Latin America.

 

Increasing Women’s Financial Protection: What Can Insurance Do?

20 April 2017, Washington D.C.

At a side event to the 2017 World Bank Group-IMF Spring Meetings on “Increasing Women's Financial Protection-What Can Insurance Do?” insurance supervisors, industry representatives, development partners and civil society organisations discussed the role of the insurance industry and its stakeholders in increasing financial protection for women through targeted approaches. The event marked the launch of ''Mainstreaming Gender and Targeting Women in Inclusive Insurance: Perspectives and Emerging Lessons ", which was prepared by GIZ on behalf of the German Federal Ministry for Economic Cooperation and Development (BMZ), IFC, Women’s World Banking and A2ii (see below). During the event, these organisations committed to continue their collaboration, under the umbrella of the G20 Global Partnership for Financial Inclusion (GPFI), to build evidence for the business case, engage stakeholders and enhance knowledge sharing to stimulate the market development of women-targeted inclusive insurance.

More information on the event, including a link to the recording, can be found here.

Download the compendium “Mainstreaming Gender and Targeting Women in Inclusive Insurance” in the Recent Publications section below.

 

Participate in our Events!

22nd A2ii-IAIS Consultation Call on “The Importance of Insurance Regulation in Disaster Resilience”

18 May 2017

Our next Consultation Call will be held on 18 May on the topic of “The Importance of Insurance Regulation in Disaster Resilience”. This call will explore the important role that insurance regulation plays in facilitating the deployment of insurance sector resources at the macro, meso and micro level in a given country or region to enhance resilience to natural catastrophes. In the call, we will discuss the scale and nature of the exposure, specific laws and regulations that could facilitate – or impede – deployment of insurance sector resources.

Four calls will be held, two in English at 10am and 3pm CEST, one in French at 12am CEST and one in Spanish at 5pm CEST.

To register or for more information, please click here.

We are always keen to hear preferred topics from supervisors and encourage you to submit any requests for future calls either to consultation.call@a2ii.org or through our website.

10th Consultative Forum on ‘Scaling up agricultural index insurance in Africa: building disaster resilience of smallholder farmers’

24-25 May 2017, Kampala, Uganda

The African Insurance Organisation, IAIS, the Microinsurance Network and the A2ii will hold its 10th Consultative Forum on “Scaling up agricultural index insurance in Africa: Building disaster resilience of smallholder farmers” on the afternoon of Wednesday, 24th May and morning of Thursday, 25th May 2017 in Kampala, Uganda.

This Forum will focus on the challenges and opportunities of agricultural index-based insurance and explore how the various stakeholders – insurance supervisors, the industry, policymakers and donors – can cooperate and align their respective roles to achieve sustainability and scale while ensuring fair treatment of smallholder farmers.

The Consultative Forum takes place alongside the 44th AIO Conference and General Assembly. Supervisors, policymakers and industry players are highly welcome to attend.

Further information and the draft agenda are available here. To register, please click here.

For queries please contact A2ii Sub-Saharan Africa regional coordinator Janice Angove (janice.angove@fsb.co.za).

Recent Publications

Mainstreaming Gender and Targeting Women in Inclusive Insurance: Perspectives and Emerging Lessons

The collection of notes and case studies, “Mainstreaming Gender and Targeting Women in Inclusive Insurance: Perspectives and Emerging Lessons”, covers a number of themes related to the demand and supply of insurance products for women, with a focus on the inclusive insurance market. The publication highlights how the insurance needs of women are different from those of men: women are more at risk of losing their income because of pregnancy, divorce or separation, as well as constraints imposed by society and laws. The insurance industry can play a major role in increasing financial protection for women—including those from low-income levels—through approaches that target their specific needs. Insurance companies can design coverage for their illness, pregnancy, and assets, while protecting their savings to cope with financial challenges.

The compendium also emphasises the role of insurance industry stakeholders in bringing a women-oriented focus to inclusive insurance. In particular, insurance regulators and supervisors can play an important role in promoting inclusive insurance for women by removing regulatory barriers that hinder women’s access to insurance, gathering and analysing sex-disaggregated industry data on access and usage of insurance by diverse product types, and adapting complaint infrastructure to ensure it is accessible and responsive to women’s needs in order to address consumer protection concerns for women.

This publication was developed as part of a collaborative effort between GIZ’s Sector Initiatives Social Protection and Global Initiative for Access to Insurance on behalf of the German Federal Ministry for Economic Cooperation and Development (BMZ), International Finance Corporation, Women’s World Banking, the Access to Insurance Initiative, and the Self-Employed Women’s Association.

Download the complete Compendium here. The A2ii’s contribution on “The Role of Insurance Regulation in Promoting Inclusive Insurance for Women” is available in English, French and Spanish.

Spanish reports of the 17th, 18th and 19th A2ii-IAIS Consultation Calls

The Spanish reports from Consultation Calls 17-20 are now available. Please see below for details on each report.

17th A2ii-IAIS Consultation Call on “Experiences in implementing regulatory frameworks for inclusive insurance” held on 21 July 2016. Available here.

18th A2ii-IAIS Consultation Call on “How supervisors can help enable access to insurance for migrants” held on 22 September 2016. Available here.

19th A2ii-IAIS Consultation Call on “Data protection challenges in mobile insurance” held on 24 November 2016. Available here.

Report of 20th A2ii-IAIS Consultation Call on ‘Reinsurance’

The report from the 20th Consultation on ‘Reinsurance’, which took place on 26 January 2017, is now available in French and Spanish. The topic of the call was selected in response to requests from the IAIS Executive Committee as well as Latin American supervisors and welcomed a record number of participants. To read more about discussions and content please click here.

 

Announcements

Staffing Update

We are very happy to welcome Benjamin A. Antwi-Boasiako to our team. Amongst other activities, Benjamin will be supporting A2ii’s knowledge generation work, in particular in the area of agricultural insurance and disaster resilience, our capacity building activities as well as our communication activities. 

He has ten years of insurance industry experience, including index-based insurance product development. A Chartered Insurer and an Associate of the Chartered Insurance Institute of London (CII), Benjamin is currently finalising his PhD at Technische Universität Dresden, Germany, which focuses on the insurance of extreme natural events in developing countries.

Knowledge category: 

Access to Insurance Initiative Newsletter 3/2017

Welcome to our monthly newsletter, where we update insurance regulators and supervisors on the work of the Initiative, inform you about events and publications, and share experiences and learning across jurisdictions.

Visit us at www.a2ii.org.

 

Recent Events

21st A2ii-IAIS Consultation Call on ‘Measuring insurance development: beyond the insurance penetration rate’

23 March 2017

In response to a survey issued to supervisors on Consultation Call topics, the 21st Consultation Call explored the topic of measuring insurance development with tools beyond the traditional insurance penetration rate. During the call experts stressed the need to look deeper than the penetration rate to measure both market development and client value and examined indicators as well as data collection practices for doing so. Insights and knowledge on the topic were shared by supervisors from Ghana and Malaysia. A total of 80 supervisors from 32 jurisdictions participated on the call.

Discussion evolved around the following points:

  • Indicators and benchmarks used to measure market development and client value, such as the claims ratio, combined ratio, retention rate, growth ratio and product variety indicators
  • The need to have a clear definition of microinsurance/inclusive insurance before commencing data collection
  • The step-wise nature of data collection and need to have segregated data, and the need to be pragmatic and begin with data that is most easily collectible
  • The need to set realistic targets in financial inclusion strategies and to have evidence-based policy and regulation in the context of risk-based supervision

The presentations can be found here and a full report summarising the call will be available soon.

 

9th Consultative Forum on agricultural insurance for smallholder farmers and 12th Annual Conference of the Asian Forum of Insurance Regulators

14-15 March 2017, Singapore:

On the afternoon of 14 March 2017, 50 supervisors, policymakers and insurance industry representatives from 14 countries gathered at the Monetary Authority of Singapore (MAS) to discuss the challenges and potential of insurance as a tool to reduce the vulnerability of smallholder farmers against disaster risks.

The Forum noted that while there is now greater recognition and political support, both nationally and internationally, many challenges remain in terms of scaling up. Panellists from India, Kenya, Sri Lanka, Thailand and the Philippines shared their experiences with both indemnity and index-based agricultural insurance. It was underlined from the African Risk Capacity’s experience with sovereign risk financing that efficient risk-sharing arrangements between individuals, communities, regional government and sovereign levels are increasingly possible given developments in digital technologies, technical knowledge and global risk markets. Participants also discussed considerations that should go into regulatory approval of an index insurance product.

Implementation challenges discussed at the Forum included:  

  • Product customisation to farmers’ needs and linking to the agricultural value chain, given the volatility and diversity of the agricultural sector.
  • Availability and quality of data, which often rests with government agencies and is not publicly available or recorded in a form that is suitable for insurance purposes. 
  • Effective delivery, where processes such as claims and enrolment are done in a timely manner, given the reliance on community or local organisations. 
  • The appropriate role of long-term state subsidies in providing sustainable agricultural insurance for smallholder farmers.
  • Increase in the use of technology – such as satellite data and mobile insurance – to make index insurance more cost-effective and scalable in the long run.

The IAIS, the Microinsurance Network and the A2ii jointly organised the 9th Consultative Forum, which was kindly hosted by the MAS. All event materials are on the A2ii website and a conference report will be available in April.

The 12th Annual Conference of the Asian Forum of Insurance Regulators took place two days after the 9th Consultative Forum from 16-17 March 2017, also at the MAS. Chaired by the China Insurance Regulatory Commission and attended by regulators from 21 countries, the theme for 2017 was ‘Regulation and Supervision in a Disruptive Landscape’. Regulators shared updates on regulatory priorities for the year and exchanged perspectives on coping with disaster risks as well as innovations in the insurance sector. Participants also heard updates from the IAIS, A2ii, Organisation for Economic Co-operation and Development and Asian Development Bank. The A2ii participated in a panel and spoke on its observations on the innovations that have been happening in the inclusive insurance space, highlighting the arising risks to the industry.

 

IAIS Implementation Committee Meeting

1 March 2017, Basel, Switzerland

The A2ii provided a short report to the Implementation Committee on its recent activities and workplan for 2017. A draft of the report summarising the results of the survey on supervisory development needs conducted jointly by the IAIS and A2ii was also presented at the meeting. The report will now be finalised and then used to inform the A2iis work plan going forward as well as the IAIS’s implementation activities more broadly.

In addition, the A2ii joined other IAIS members in discussing the IAIS’s draft emerging market strategy – a paper examining ways the IAIS can better engage and support its broader membership. Discussions were also held on the IAIS’s assessment and implementation monitoring.

 

UK to help businesses and governments get better access to insurance against natural disasters

16 March, London, UK

In a joint event with the World Bank and the International Finance Corporation (IFC), the UK’s Department for International Development (DFID) announced that they will step up efforts to help businesses and governments in emerging economies get better access to insurance against natural disasters so that they can prepare for potential emergencies and recover more quickly. The event “Transforming investment risk” brought together the private sector, NGOs and policymakers to explore what will make it easier for companies to invest in emerging economies in order to help developing nations create jobs and speed economic growth.

One part of the event was dedicated to identifying the main opportunities and challenges relating to insurance market development and to discuss with industry players what is needed to fundamentally shift the market and increase coverage. It was highlighted that regulation and supervision is often an impediment to building robust insurance markets in many emerging economies. It was also highlighted that policymakers need to make insurance a policy priority. Conor Donaldson from the IAIS Secretariat represented the IAIS and A2ii in this event.

More information on the event can be found here on DFID’s website.

 

 

Participate in our Events!

Increasing Women’s Financial Protection: What Can Insurance Do?

20 April 2017, Washington D.C.

'Increasing women's financial protection: What can insurance do?' will be held on 20 April as a side event the World Bank Group Spring Meetings in Washington DC from 10- 11:15 am. The event is being co-hosted by the IFC Gender Secretariat, Finance & Markets, and the Financial Institutions Group, GIZ’s Sector Initiatives Social Protection and Global Initiative for Access to Insurance on behalf of the German Federal Ministry for Economic Cooperation and Development (BMZ) and Women’s World Banking. ''Mainstreaming Gender and Targeting Women in Inclusive Insurance: Perspectives and Emerging Lessons: A Compendium of Technical Notes and Case Studies" featured at the event, was further developed in collaboration with the A2ii and the Self-Employed Women’s Association. 

 

22nd A2ii-IAIS Consultation Call

18 May 2017

Our next Consultation Call will be held on 18 May with the topic still to be determined. We are always keen to hear preferred topics from supervisors and encourage you to submit any requests for future calls either to consultation.call@a2ii.org or through our website.

 

10th Consultative Forum on ‘Scaling up agricultural index insurance in Africa: building disaster resilience of smallholder farmers’

24-25 May 2017, Kampala, Uganda

The African Insurance Organisation, IAIS, the Microinsurance Network and the A2ii will hold its 10th Consultative Forum on “Scaling up agricultural index insurance in Africa: Building disaster resilience of smallholder farmers” on the afternoon of Wednesday, 24th May and morning of Thursday, 25th May 2017 in Kampala, Uganda.

This Forum will focus on the challenges and opportunities of agricultural index-based insurance and explore how the various stakeholders – insurance supervisors, the industry, policymakers and donors – can cooperate and align their respective roles to achieve sustainability and scale while ensuring fair treatment of smallholder farmers.

The Consultative Forum takes place alongside the 44th AIO Conference and General Assembly. Supervisors, policymakers and industry players are highly welcome to attend.

Further information and registration forms are available here. For queries please contact A2ii Sub-Saharan Africa regional coordinator Janice Angove (janice.angove@fsb.co.za).

 

Recent Publications

 

Report on the 8th Consultative Forum

The summary report from the 8th Consultative Forum is available on our website in both English and Spanish. The Forum took place on 1 December 2016 in San Juan, Costa Rica and focused on the topic of ‘Challenges and opportunities presented by alternative distribution channels’.

 

Report of 20th A2ii-IAIS Consultation Call on ‘Reinsurance’

The report from the 20th Consultation on ‘Reinsurance’, which took place on 26 January 2017, is now available in English. The topic of the call was selected in response to requests from the IAIS Executive Committee as well as Latin American supervisors and welcomed a record number of participants. To read more about discussions and content please click here. French and Spanish versions will be available shortly.

 

 

Announcements

Job Vacancy: Communications Manager

We are looking for a communications manager who will be responsible for communicating the work of the A2ii to global audiences, manage A2ii’s web and social media channels, oversee the production of PR and knowledge products and liaise with key stakeholders to amplify A2ii’s messages. To find out more information about the position and how to apply, please click here.

Applications close on 21 April 2017.

Knowledge category: 

A2ii Newsletter 2/2017 Special Edition: First Mobile Insurance Conference Outcomes

Welcome to this special edition of our monthly newsletter. In this edition, we will highlight the emerging theme of mobile insurance, report on the recently concluded Mobile Insurance Conference and feature related newly launched publications. Happy reading!

First Mobile Insurance Conference closes with a call for increased cooperation among supervisors, industries and policy makers

 

The first Mobile Insurance Conference closed after two days of intensive discussions on how to overcome barriers and seize opportunities of using mobile technologies to enhance access to insurance of low-income populations. One hundred participants from 26 countries attended the conference.  

Issofa Nchare, General Secretary of the Inter-African Conference on Insurance Markets (CIMA), closed the conference stating that mobile insurance (m-insurance) provides a top opportunity for insurance market development. He also called upon insurance regulators to facilitate innovation whilst ensuring consumer protection.

Hannah Grant, Head of Secretariat of the Access to Insurance Initiative (A2ii), reiterated the need for strengthened cooperation and coordination among supervisors, industries and policy makers, and stressed the importance of flexibility in regulatory frameworks to allow the growth of new business models. 

M-insurance has been a strong driver for the increase of retail insurance penetration in regions with very low insurance uptake. The conference highlighted the need for insurance supervisors to balance the objectives of market development and consumer protection. 

The discussions revealed that creating flexibility in regulation to allow space for innovation is vital. This applied not only to m-insurance, but the broader leaps being taken in the application of Insurtech to develop markets. To achieve this, capacity building amongst all stakeholders, public and private, will be an important foundation. A common theme in the discussions was that, throughout the insurance delivery process, building consumer awareness and understanding is required for an optimal insurance experience. 

Digital technology is changing the insurance landscape by paving the way for new players and business models with the potential to rapidly expand coverage. The discussions during the conference made it clear that there are still many open questions to resolve in this space.

M-insurance cuts across multiple laws, regulations and authorities that extend beyond the insurance sector among them, payments systems and telecommunications. This overlap creates the need for cooperation across these industries, the models of which are still new and growing. The advent of technology has introduced a range of new players, notably technical service providers, and the question remains how to effectively include these new players, while keeping the consumer experience positive.  

One of the highlights of the conference is the launch of the new Access to Insurance Initiative (A2ii) report, “Regulating Mobile Insurance: Status and Regulatory Challenges.’ The report explored the risks and opportunities of mobile insurance, drawing on the experiences of 26 jurisdictions. (Download the report here: https://a2ii.org/sites/default/files/reports/20170214_mobile_insurance_c... )

Kofi Andoh, an insurance supervisor from Ghana, shared his country’s experiences with mobile insurance, remarking that “Insurance is a promise which one cannot simply discontinue that in the next month”, referring to some initial short-term loyalty products that were introduced in some markets  Andoh also stressed that it is important for regulations to support more than one method of purchasing cover. He further recommended that the most helpful regulatory environment is where the edges of the playing field are clearly marked out and the regulator does not become a player setting premiums and commissions. 

Luc Noubissi, chair of the IAIS Drafting Group on the Digital Inclusive Insurance, reporting the work of his team gathered ahead of the conference, stated that: “ Digital technology can help solve inclusive insurance challenges, but gives rise to particular risks and regulatory considerations to which supervisors should respond through a proportionate application of the principles for insurance regulation”. Noubissi invited supervisors to actively contribute to the IAIS Application Paper on the topic, by providing illustrations, recommendations or examples of good practices on how supervisory material may be implemented. “The Application paper is planned to be adopted by the end of 2017 and will provide additional material to mitigate the risks raised by digital technologies in various stages of product life cycle and in value chain”, he concluded. 

A conference report will become available in April.

The conference was organised by the A2ii, the IAIS, and CIMA. It is supported by BMZ, DGIS, UK Aid, FSD Africa and Munich Re Foundation.

The presentations are available at: https://a2ii.org/en/event/save-date-iais-a2ii-cima-mobile-insurance-conference    

 

Recent Publications

Regulating Mobile Insurance: Status and Regulatory Challenges

This document serves as a preliminary summary of a larger study commissioned by the Access to Insurance Initiative (A2ii) for 2017. The summary provides a review of supervisory approaches to mobile insurance (m-insurance) in various jurisdictions with the aim of providing inputs to the forthcoming IAIS1 -A2ii-CIMA2 Conference on Mobile Insurance Workshop in Douala, Cameroon from 23rd- 24th February 2017. The study draws on various sources including online surveys, telephone interviews and desktop research. Online surveys were completed by insurance supervisors from 26 jurisdictions and follow-up in-depth telephone interviews were conducted with insurance supervisors from 9 jurisdictions between October 2016 and January 2017 (Brazil, CIMA, Ghana, Kenya, India, Indonesia, Philippines, South Africa and Tanzania). Furthermore, additional interviews were also conducted with key resource persons and stakeholders within the m-insurance sector. This study will also feed into the work of the IAIS Drafting Group on Digital Technology in Inclusive Insurance on an applications paper on digital insurance. The paper focuses on m-insurance, but also addresses some other aspects of digital insurance and technology. 

Download the report here: https://a2ii.org/en/report/thematical/regulating-mobile-insurance-status-and-regulatory-challenges  

 

Report on 19th A2ii-IAIS Consultation Call on "data protection challenges in mobile insurance” 

The 19th Consultation Call, held on 24 November 2016, focused on exploring data protection challenges arising from mobile insurance business models. Four calls were held: two in English, one in French and one in Spanish.

Technical experts Dr Nicola Jentzsch (Consultant) and Andrea Camargo (Director of Regulation and Consumer Protection at the Microinsurance Catastrophe Risk Organisation, MiCRO) explored important privacy and data protection risks introduced by applying Big Data analytics to the provisioning of insurance, as well as corresponding regulatory considerations for supervisors. Country experts Eugene Du Toit from the South African Financial Services Board and Ranferi Gómez from the Mexican National Commission of Insurance and Finance shared their jurisdictions’ experience with data protection in mobile insurance.

Download the report here: 

EN: https://a2ii.org/sites/default/files/field/uploads/19.20consultation_call_engl_web.pdf

FR: https://a2ii.org/sites/default/files/field/uploads/19.20consultation_call_fr_web.pdf

 

 

Report of the CIMA-A2ii Workshop “Regulating Mobile Insurance”

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. 

The main objective of the workshop was to provide inputs to assist CIMA in developing regulations to deal with mobile insurance that protect the policyholder and ensure financial stability. The workshop was also intended to create a framework for cooperation and information exchange between the supervisors and regulators involved in mobile insurance in the CIMA zone. 

Read the conference outcomes in this report: https://a2ii.org/en/report/regulation-and-supervision-cima/report-cima-a...

 

 

 

 

Announcements:

Mobile Insurance Conference generates record-breaking Twitter stats

During the two-day conference, the conference hashtag #MIC2017 has been tweeted 184 times by 35 contributors, reaching a total of 34,405 accounts. The top contributors are: @CGAP, @CENFRI and MIN. 

The top six tweets include:

1)  cenfri @cenfri_org

How is #InsurTech addressing key challenges in #microinsurance? Our MD @DoubellC shares our research at #MIC2017

2) Access to Insurance @A2ii_org

Download the new A2ii study on Regulating #MobileInsurance: Status and Regulatory Challenges #MIC2017

3) Cat Denoon-Stevens @CatDStevens

Love triangle of insurers, MNOs & TSPs has been very important to make m-insurance work, but also complex #MIC2017 https://t.co/22cigmxa0D

4) CGAP @CGAP 

RT @A2ii_org: Peter Wrede of .@CGAP : Digital financial inclusion is not just limited to #mobileinsurance #MIC2017 https://t.co/BzwwTkLF9O

5) Craig Thorburn@ThorburnCraig  

Craig Thorburn hat Access to Insurance retweetet

There is more to #Mobileinsurance than there first appears. This conference is a very rich discussion.

RT: Access to Insurance@A2ii_org: Kofi Andoh: Insurance is a promise. You cannot simply discontinue that in the next month #MIC2017 #mobileinsurance

6) MicroinsuranceNetwk@NetworkFlash

 Time to ask feedback from peers researching best practices on #mobileinsurances worldwide. H. Grant @A2ii_org #MIC2017 #microinsurance

 

Upcoming Events:

9th Consultative Forum on Insurance for Smallholder farmers, 14 March 2017, Singapore

The IAIS, the Microinsurance Network and the A2ii will hold its 9th Consultative Forum on ‘Exploring challenges in scaling up insurance as a disaster resilience strategy for smallholder farmers’ on 14 March 2017 in Singapore. 

Hosted by the Monetary Authority of Singapore (MAS), the dialogue will focus on challenges in scaling up agricultural index-based insurance, and how insurance supervisors, policymakers and the industry can cooperate in addressing them. 

Supervisors, policymakers and industry players are highly welcome to attend.

Check out the programme and relevant information: https://a2ii.org/en/event/save-date-9th-consultative-forum-topic-explori...

To register, email: info@microinsurancenetwork.org

Knowledge category: 

Access to Insurance Initiative Newsletter 1/2017

Welcome to our monthly newsletter, where we update insurance regulators and supervisors on the work of the Initiative, inform you about events and publications, and share experiences and learning across jurisdictions.

Visit us at www.a2ii.org.

Download the pdf version of this newsletter.

 

 

 

 

Recent Events

 

Now happening: Inclusive Insurance Training for Supervisors in the Caribbean region

30 January - 3 February 2017, Kingston, Jamaica: The training, happening this week in Kingston, Jamaica, welcomes 60 delegates and highlights the importance of innovation and sound supervisory principles in promoting financial inclusion and the growth of inclusive insurance markets. Throughout the training, participants are being guided by the Toronto Centre’s action planning for dealing with challenges faced at the workplace as well as stakeholder communication concepts in introducing inclusive insurance in their jurisdictions. This is to enable participants to develop their own action plans to implement in their home agencies when they return.

Get regular updates on the training by following @A2ii_org #inclusiveinsurance on Twitter

For more information, visit: https://a2ii.org/en/event/save-date-inclusive-insurance-training-program-supervisors-caribbean-region

 

A2ii and IAIS hold 20th Consultation Call on Reinsurance

26 January 2017: In response to requests from the IAIS Executive Committee as well as Latin American supervisors, A2ii and IAIS held the 20th Consultation Call on the topic of reinsurance. 

During the call, supervisors shared their experiences, insights and knowledge on the legal frameworks of reinsurance in Canada, France, India, Kenya and Chile.  On the call questions around the enforcement of contracts, the direct and indirect supervision of reinsurers and contract oversight among other issues were examined.  A  total of 88 supervisors representing 32 countries participated in the call. 

To view the reports and presentations, visit: https://a2ii.org/en/consultation-calls/20th-a2ii-iais-consultation-call-...

 

A2ii-IAIS Sub-Saharan Africa regional supervisors meeting

30-31 January 2017, Johannesburg, South Africa: The Financial Services Board hosted the IAIS-A2ii Regional Meeting for Sub-Saharan Africa in Pretoria, South Africa. Twenty-five delegates from supervisors across Sub-Saharan Africa attended the meeting, including representatives from the sub-regional committees for East Africa, French-speaking West and Central Africa and Southern Africa.

The chair of the IAIS regional committee emphasised the continued commitment of the IAIS and A2ii to support supervisors in Sub-Saharan Africa in developing capacity. The supervisors welcomed the growing commitment of the IAIS to consider the needs of emerging economies.

Participants reported on recent developments in insurance supervision in their countries and shared experiences around data collection and analysis and solvency requirements. The main focus of the meeting was to discuss the gaps in the implementation of the Insurance Core Principles (ICPs) in the region, as identified by the Analytic Review of ICP assessments. Supervisors were given the opportunity to prioritise areas where support is needed in the supervision activities and the implementation of these principles. These priorities will form the basis of an implementation plan for knowledge and capacity building activities for the region.  

 

A2ii attends G20 Global Partnership for Financial Inclusion (GPFI) Workshop and Meeting

23-24 January 2017, Wiesbaden, Germany: G20 member countries, implementing and affiliated partners of the Global Partnership for Financial Inclusion (GPFI) met in the German city of Wiesbaden to discuss priorities for 2017. The meeting was preceded by a one-day workshop to update the Financial Inclusion Action Plan (FIAP), which outlines the GPFI’s areas of work.

For 2017, the German Presidency has identified four priority areas, namely (a) review and update of the FIAP to include the UN 2030 Agenda for Sustainable Development and the issue of digitization; (b) implementation of the G20 High Level Principles for Digital Financial Inclusion, which were endorsed by G20 Finance Ministers and Central Bank Governors last year; (c) implementation of the G20 Action Plan on SME Financing; and (d) development of a work stream on financial inclusion of vulnerable groups, in particular of forcibly displaced persons.

As an affiliated partner of the GPFI, the A2ii helps ensure that insurance is part of the G20 agenda on financial inclusion. In Wiesbaden, the A2ii participated in both the workshop and the meeting as well as in meetings of the Subgroup on Regulation and Standard-Setting Bodies. Through its interventions, the A2ii sought to ensure that insurance was given appropriate attention in the 2017 GPFI work plans.

 

 
 

Participate in our Events!

 

Mobile Insurance Conference

23 - 24 February 2017

Doula, Cameroon

This conference will delve into the unique regulatory challenges and opportunities of using mobile insurance to make inclusive insurance at scale a reality. It will shine a light on the rising trends in digital technologies and mobile insurance, prudential and market conduct risks arising from mobile insurance, current regulatory approaches and take a deeper look at key regulatory considerations: cooperation across different regulatory authorities, data protection and building consumer awareness.

Check out the programme and practical information:  https://a2ii.org/en/event/save-date-iais-a2ii-cima-mobile-insurance-conference  

Register until 7 February: https://a2ii.org/en/form/pre-register-iais-a2ii-cima-mobile-insurance-conference 

 

9th Consultative Forum on Insurance for Smallholder farmers

14 March 2017
Singapore

The IAIS, the Microinsurance Network and the A2ii will hold its 9th Consultative Forum on ‘Exploring challenges in scaling up insurance as a disaster resilience strategy for smallholder farmers’ on 14 March 2017 in Singapore. 

Hosted by the Monetary Authority of Singapore (MAS), the dialogue will focus on challenges in scaling up agricultural index-based insurance, and how insurance supervisors, policymakers and the industry can cooperate in addressing them. 

Supervisors, policymakers and industry players are highly welcome to attend.

Check out the programme and relevant information: https://a2ii.org/en/event/save-date-9th-consultative-forum-topic-exploring-challenges-scaling-insurance-disaster 

To register, email: info@microinsurancenetwork.org 

 

 

Hot off the press!

 

Summary note on A2ii-IADB Project: Implementation of Regulatory and Supervisory Standards for Access to Insurance in Latin America and the Caribbean

The project managed by the A2ii, which ran for 46 months concluding in May 2016, contributed to the growth of the inclusive insurance market in Latin America and the Caribbean, It also helped increase the availability of sustainable insurance products tailored to the needs of low-income populations by supporting the partner countries in developing a policy and regulatory environment that supports inclusive insurance. 

Read more about the project outcomes here: https://a2ii.org/en/report/country-diagnostics-and-synthesis-notes/summa...   

 

 

 

 

Announcements

Out now: Videos from the 8th Consultative Forum on Alternative Distribution Channels

The videos from the 8th Consultative Forum on “Opportunities and challenges presented by alternative distribution channels” held on 1 December 2016 in San Jose, Costa Rica, are now online. The event was livestreamed in both English and Spanish and was viewed by approximately 400 people from more than 10 countries.

To watch the videos, click on the playlist below or visit: https://www.youtube.com/playlist?list=PLvRCyfN5sW3j-UQpZ4JGFzR7xgoVT32Pg  Please note that you will have to use your earphones to hear the simultaneous translations. 

 

 Take the A2ii Survey on Supervisory Approaches to Index Insurance!

Insurance supervisors are invited to take the survey on 'Supervisory Approaches to Index Insurance’. The survey will help us better understand the current regulatory practices relating to index insurance, and support the development of insurance for smallholder farmers. 

Take the survey now: https://www.surveymonkey.de/r/3VC5JTP 

 

A2ii is now on Twitter!

A2ii has recently launched its Twitter channel. Follow us at  @A2ii_org, #inclusiveinsurance to catch the latest news, events, insights and other exciting activities in the inclusive insurance front. 

Knowledge category: 

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