A financially sound insurance sector contributes to economic growth and well-being by supporting the management of risk, allocation of resources, and mobilization of long-term savings. The Insurance Core Principles developed by the IAIS are key international standards relevant for sound financial systems. Effective implementation of the Insurance Core Principles requires skilled and knowledgeable insurance supervisors.
This document outlines the analytical framework and methodology for conducting a microinsurance country diagnostic study. It is designed to assist readers who wish to gain a deeper understanding of the development of microinsurance markets, as well as researchers, consultants, insurance practitioners, policy-makers regulators and supervisors tasked with the analysis of a national insurance market with a view to developing strategies and recommendations for the growth of microinsurance.
What is microinsurance? Why is it important? How do microinsurance markets typically develop? What are the benefits of a deliberate strategy or process to developmicroinsurance? What steps can be taken to develop the microinsurance market in aparticular country? What are the issues to consider in doing so and what are the possiblerisks involved?
The International Association of Insurance Supervisors (IAIS) and the Access to Insurance Initiative (A2ii) have launched the Self-Assessment and Peer Review (SAPR) on Regulation and Supervision supporting Inclusive Insurance Markets. This SAPR assesses the supportiveness of supervisors to the cause of enhancing inclusive insurance markets.
Toolkit IV concentrates on those parts of the process that deal with agreeing on and executing the action plan. Its purpose is to help the reader to grasp what it takes to get to the desired results or end-goal. It also outlines potential activities for doing so, and provides practical tips and lessons to take into account in operationalising the action plan.