Access to Insurance Initiative Newsletter 1/2017

Bulletin | 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

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.