InsurTech developmental traits have been compared to those of a curious and imaginative toddler (!) who pushes the boundaries, a herald of the Fourth Industrial Revolution that brings innovations to the value chain. But what about its impact on inclusive insurance in developing countries?
Mobile insurance continues to be the most common tech deployment in developing and emerging markets while InsurTech holds 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 also presents risks which must be addressed. To support safe growth and facilitate innovation, regulators need to be able to anticipate change and guide it - rather than merely survive it.
The 13th Consultative Forum on Mobile Insurance and InsurTech: rising to the regulatory challenge due to take place in Accra, Ghana on 9 and 10 May is set to break existing silos. Hosted jointly by the Microinsurance Network (MIN), the Access to Insurance Initiative (A2ii) and the International Association of Insurance Supervisors (IAIS), the forum will explore salient topics that face the industry and regulators alike, offering a bird’s-eye view of the African insurance landscape. For more information about the 13th Consultative Forum, the agenda and the registration form, please click here.