Background: Informal approaches to risk management is a common coping mechanism especially for underserved and unserved segments of the population. In the absence of appropriate formal insurance coverage, various informal insurance-like models and schemes develop particularly in emerging and developing markets. However, such informal schemes can create uncertain risks such as those related to consumer protection and prudential risks among others. It also raises regulatory considerations for supervisors on how to create an enabling environment for informal providers. There is currently a limited range of licenses available to most regulators creating a situation whereby these entities operate without licenses or in a regulatory grey area.
This webinar will explore the topic of formalisation and its various pathways as well as how to incentivise commercial insurers to broaden their reach to underserved segments. Participants on the webinar will hear from Andrea Camargo (director of Inspowering and technical expert of the A2ii) and The Centre for Financial Regulation & Inclusion (Cenfri) who will present their report on cell captives as a possible licensing solution.
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