Access to Insurance - An important strategy for reducing vulnerability
The inability to manage vulnerability can perpetuate poverty. Access to insurance services can play an important role in mitigating welfare losses. Regulation and supervision can facilitate insurance markets to become more accessible and inclusive for low-income households.
The Access to Insurance Initiative is a global partnership with the mission to inspire and support supervisors to promote inclusive and responsible insurance, thereby reducing vulnerability. The Initiative is the implementation partner of the Global Standard Setting Body for insurance, the International Association of Insurance Supervisors (IAIS) on access to insurance.
Our goal is to strengthen the capacity of policymakers, regulators, and supervisors seeking to advance inclusive insurance markets, particularly for low-income clients, by promoting sound, effective and proportionate regulation and supervision of insurance markets based on the IAIS standards.
The Initiative is a unique partnership between international development agencies/ donors and the IAIS. Our partnership triggers the reforms in regulation and supervision required for the development of inclusive insurance markets.
Financial Inclusion on the IAIS Annual Conference Agenda
The biggest event in the calendar of the International Association of Insurance Supervisors (IAIS), the 20th IAIS Annual Conference, took place from 16th to 18th October in Chinese Taipei.
The A2ii featured a panel discussion on the path towards increased access to insurance and the new strategic direction of the partnership between the IAIS and A2ii. The panel was moderated by Maria Victoria Saenz, Lead Project Specialist IDB-MIF. Panelists were Peter Braumüller, Chair of the IAIS Executive Committee, Jonathan Dixon, Chair of the IAIS Implementation Committee, Chair A2ii Governing Council and Sudhin Roy Chowdhury, Member (Life), IRDA India and A2ii Council member. More
Insurers and regulators discuss business models
The 1st “Consultative Forum on business models, distribution and their regulatory implications” was held in Jakarta back to back to the 9th International Microinsurance Conference. The forum was hosted by the International Association of Insurance Supervisors (IAIS) and the Microinsurance Network and in collaboration with the A2ii. The forum brought together representatives of the insurance industry and supervisors.
The A2ii presented emerging microinsurance business models from 25 jurisdictions around the globe, focusing on related risks and regulatory implications for supervisors. The presentation provided a snapshot of the A2ii synthesis note “Evolving Microinsurance Business Models and their Regulatory Implications” that will shortly be circulated for consultation with IAIS members. The synthesis note is based on an analysis of all A2ii country diagnostic studies undertaken so far and several other studies, globally.
Self-assessment and Peer Review on Regulation and Supervision supporting Inclusive Insurance Markets:
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.
If you would like to participate in or receive more information about the IAIS self-assessment, please contact the A2ii secretariat for assistance: secretariat[at]a2ii.org
Download more information on SAPR [pdf, 25kb]
Download SAPR questionnaire [pdf, 983 kb]
Inside the Initiative
Enhancing regulatory and supervisory capacity, growing financial inclusion and advancing insurance markets
This publication introduces the Initiative and presents our goal, aspirations
and activities to our partners and all interested parties.
The “Inside” also provides details on the Initiative’s four key activity areas:
1. Building knowledge and learning
2. Undertaking country projects
3. Contributing to IAIS standard-setting
4. Advocacy and engagement in international platforms