Skip to main content
Retour à Ateliers et séminaires

Policy Seminar - Consultative Forum on Microinsurance Regulation for Insurance Supervisory Authorities & Insurance Practitioners

The 4th Consultative Forum brought together 60 participants, representing regulatory authorities and insurance industry participants from 24 countries from the Sub-Sahara Africa and Middle East and North Africa (MENA) regions.

Through two interactive plenary sessions participants deliberated on ‘What are the essential elements of an enabling regulatory framework which fosters inclusive insurance markets?’ and ‘How to develop an enabling regulatory framework for inclusive insurance?’.

The discussions identified that the regulatory framework for inclusive/microinsurance needs to be proportionate, i.e. while regulation is important to ensure consumer protection through offering effective and valuable products and services to low income populations, they should not burden the industry with undue costs and must allow for innovations that reduce costs and offer better value. The discussions also highlighted the need to strike the right balance, through consultations between the industry and the regulators, to develop regulations that encourage the insurance industry to offer inclusive insurance solutions.

Exploring further the expectations that regulators have of industry in the region, and vice versa, two key points of consensus emerged. There was unanimous agreement that regulators and the industry need to work together for better client awareness and education. This was identified as a prerequisite if insurance penetration levels are to improve in the Africa and MENA regions. There was also strong consensus that the use of technology will enable the industry to offer better services at lower costs. The regulators were of the opinion that as long as clients’ interests are well-served and protected, they are very willing to support the embracing of technology by the industry at each step of the insurance value chain.

The need for market development was also identified in these discussions, with the industry suggesting that they would like regulators to take steps to assist them in getting more information and insights from more developed microinsurance markets, while the regulators encouraged the industry players to be more involved in market research and diagnostic studies aimed at gathering actionable knowledge for the industry.

In addition to the above, Insurance Supervisors and Insurers agreed on the importance of improving client value and satisfactory claims handling as a means of improving the public image of insurance and building trust by the public, the need for improved literacy so that clients can appreciate the value of insurance products offered and introduction of insurance products that meet the real needs of low income households, especially those in the rural areas who have thusfar been significantly unserved.

The next Consultative Forum will take place in November this year in Casablanca, Morocco on the side lines of the 11th International Microinsurance Conference.

 

Date:
Wednesday, 27. Mai 2015 9:00 AM
Durée:
2 jours
Lieu:
Tunis, Tunisia
Catégorie de connaissances:
Ateliers et séminaires

Également dans Ateliers et séminaires

1 jour

A2ii-ASSAL webinar on "Insurance for MSMEs: The Protection Gap exposed by Covid-19"

plus
3 jours

FSI-AMF Regional Seminar on Pillar 2 and Risk-based Supervision

plus
2 jours

A2ii-SARB-IAIS Regional meeting for insurance supervisors from Sub-Saharan Africa

plus
1 jour

17th Consultative Forum on Climate and Disaster Risk for insurance supervisory authorities, insurance practitioners and policymakers “Climate and disaster risk: building resilience, bridging the protection gap in Asia”

plus
2 jours

Global Insurance Supervision Conference

plus
2 jours

A2ii 10-Year Anniversary Conference

plus
2 jours

Africa 3.0 - Using Tech to Seal the Insurance Gap

plus
1 jour

Roundtable on “Insurance for women: specific needs and inclusion”

plus
2 jours

16e Forum consultatif sur le climat et les risques de catastrophe - Climat et risques de catastrophes : renforcer la résilience, combler le manque de protection

plus
1 jour

15th Consultative Forum on Inclusive Insurance - Climate and disaster risk: building resilience, bridging the protection gap

plus
1 jour

14th Consultative Forum on InsurTech in Latin America

plus
1 jour

Supervisory Dialogue on the impact of informality on insurance markets - what supervisors can do

plus
2 jours

13th Consultative Forum on Mobile Insurance and InsurTech: rising to the regulatory challenge

plus
1 jour

12th Consultative Forum on InsurTech

plus
1 jour

11th Consultative Forum on microinsurance regulation “Scaling up insurance as a disaster resilience strategy for smallholder farmers in Latin America”

plus
2 jours

10th Consultative Forum on the topic of “Scaling up agricultural index insurance in Africa: Building disaster resilience of smallholder farmers”

plus
1 jour

9th Consultative Forum on the topic of “Exploring challenges in scaling up insurance as a disaster resilience strategy for smallholder farmers”

plus
2 jours

IAIS - A2ii-CIMA Mobile Insurance Conference

plus
1 jour

8th Consultative Forum on the topic of “Challenges and opportunities presented by alternative distribution channels”

plus
1 jour

7th Consultative Forum on the topic of “The role of mutuals, cooperatives and community-based organisations in inclusive insurance markets”

plus
2 jours

CIMA-A2ii Workshop on mobile insurance regulation

plus
2 jours

6th Consultative Forum in Marrakesh on the topic of "Innovative products for the emerging consumer"

plus
1 jour

5th Consultative Forum in Casablanca on the topic of "Consumer Education: Old questions, new thinking"

plus
2 jours

Expert Symposium “Proportional regulatory approaches in inclusive insurance markets – Capturing what we learnt for the future”

plus
2 jours

Stakeholder workshops to present the findings of the Colombia diagnostic

plus
2 jours

Stakeholder workshops to present and discuss the Jamaica microinsurance country diagnostic findings

plus
1 jour

Challenges and opportunities in enhancing client value in insurance - the African experience with new technologies - 2nd Consultative Forum

plus
2 jours

Stakeholder workshops to present the findings of the Peru diagnostic

plus
1 jour

Microinsurance Regulation for Insurance Supervisory Authorities & Insurance Practitioners - Consultative Forum on "Business models, distribution and their regulatory"

plus
1 jour

Kick-off workshop for country mission in Jamaica, November 4, 2013, Kingston

plus
2 jours

Kick-off workshops for country mission in Colombia, October 17-18, 2013, Bogotá

plus
2 jours

Responsible Finance Forum IV – Consumer Protection in Emerging Insurance Markets

plus
2 jours

Seminar on Microinsurance Regulation for Supervisory Authorities

plus
2 jours

Regional Workshop for Supervisors from Latin America and the Caribbean

plus
1 jour

Policy Seminar on Access to Insurance, Tanzania

plus
1 jour

Workshop for regional regulators to make insurance work for the poor, Fiji

plus
2 jours

High – Level seminar on Micro-insurance Regulation for Supervisory Authorities

plus
3 jours

Policy Seminar on Access to Insurance for Supervisors, Regulators and Policy Makers

plus
1 jour

Regulators’ Workshop on Microinsurance

plus
1 jour

Policy Seminar on Access to Insurance for Regulators and Supervisors

plus
3 jours

Meeting on Microinsurance - Promoting Successful Regulatory and Supervisory Approaches for Increased Access to Insurance

plus
1 jour

Expert Round Table on the “G20 Financial Financial Inclusion Process"

plus
2 jours

International Conference: Enabling Microinsurance Markets "Overcoming the challenges for the insurance industry, regulators and supervisors"

plus