The supervisory KPIs Lexicon is an interactive, searchable directory of KPIs for insurance supervisors.
We welcome insurance supervisors to use this as a reference on KPIs for measuring insurance sector performance and the state of the insurance market in line with their respective supervisory mandates, priorities or ongoing assessments. The KPIs span four ‘pillars’: prudential soundness, market conduct, insurance market development and the link between insurance and the Sustainable Development Goals.
KPIs under each pillar are categorised according to the relevant conceptual frameworks and drawn from established global best practices, supervisory experience, as well as ongoing research. These are explained on the respective pages of each pillar.
The Lexicon is part of an ongoing project of the A2ii, FSD Africa, Cenfri and a Steering Group of insurance supervisors from Ghana, Kenya, Malawi, Mauritius, Uganda and West and Central Africa (CIMA), chaired by South Africa. We would like to invite all supervisors and experts to share your comments or questions in the form below as we continue to build on the work. We welcome technical input as well as the sharing of your experience applying the KPIs.
The list is intended to be an exhaustive list rather than a minimum or recommended list. It covers all possible areas that supervisors may wish to assess and corresponding KPIs under each area. Some of these KPIs are relevant for regular reporting by insurers. Others may only be needed for thematic reviews, supplementary analysis or one-off assessments for policy formulation purposes, depending on specific priorities and resources considerations. It is not necessary to collect all KPIs. Many supervisors only use a fraction of the list of theoretically possible KPIs.
About the KPI Reporting Project
The KPI Lexicon is one part of a project by the A2ii, FSD Africa, and Cenfri together with a Steering Group comprising of insurance supervisors from Ghana, Kenya, Malawi, Mauritius, Uganda and West and Central Africa (CIMA), chaired by South Africa.
The project was initiated to support SSA insurance supervisors with obtaining the necessary information to conduct effective supervision and evaluate the insurance market, in line with ICP 9 and evolving mandates. The project comprises three main outputs: (i) The background paper, available here, (ii) the Supervisory KPIs Lexicon, and (iii) the implementation guide, which will provide practical guidance on applying the KPIs and is due to be completed at end-2021.