Agenda

Hosted by GIZ, MCII and the ILO

This workshop, a collaboration between GIZ, MCII and the ILO, was an opportunity for information exchange and for open discussions on the role of insurance, both its weaknesses and strengths. It included country case studies and discussions on implementation of policies and lessons learned from recent experiences. This helped to facilitate the open exchange of information and provided real-life examples of the challenges and rewards of using insurance as a tool for adaptation. Brought together various stakeholders, the workshop will discuss the success factors, challenges and lessons being learned in building resilience in vulnerable communities and enterprises.

Hosted by the IAA

The session was of value to supervisors, insurance practitioners who are involved in the development of products and/or the management of the product provider’s risk and suppliers of actuarial skills. Participants learned about the key drivers of risk for inclusive insurance products and providers of such products. Participants also equipped to apply the risk assessment tool in different contexts and determine appropriate business decisions in response to the identified risks. Ultimately, participants  equipped with a flexible set of tools that they can use to solve their own risk management problems, rather a set of rigid risk management instructions.

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Hosted by MEFIN

MEFIN or the Mutual Exchange Forum for Inclusive Insurance is a Network of insurance regulators and supervisors in Asia working for a peer-to-peer exchange of knowledge and experiences with the insurance industry. MEFIN currently has seven (7) member-countries who are the insurance supervisors from Indonesia Otoritas Jasa Keuangan (OJK), Mongolia Financial Regulatory Commission (FRC), Nepal Beema Samiti, Philippines Insurance Commission (IC), Securities and Exchange Commission of Pakistan (SECP), Vietnam Insurance Supervisory Authority (ISA) and Insurance Regulatory Commission of Sri Lanka (IRCSL). The Network implement programs that provide mutual benefit to the members in advancing inclusive insurance solutions especially targeted for the low income and the informal sectors. MEFIN started as a knowledge exchange platform in 2013 and has transformed into a Network in 2016.

Hosted by the ILO´s Impact Insurance Facility

The ILO’s Impact Insurance Facility is celebrating its 10-year anniversary in 2018. Over the last ten years, we have grown and changed with the industry. Together, we are proud of the decade-long journey to claim a new place for insurance as a vital element of social and economic development. This year’s forum was an opportunity to take stock of where we are, what we have learnt over the past ten years and how these lessons will shape the next years of impact insurance. Do not miss the chance to join us and some of our partners in sharing lessons and experiences, examining current trends, and presenting ideas for the future.

Hosted by IPA and CGIAR

IPA and CGIAR convened a half-day research development workshop to explore opportunities for innovation with our network of researchers. The goal of the workshop was to generate dialogue between researchers and microinsurance providers to learn how they can work together to design, implement, and evaluate innovative, evidence-driven insurance products that have business potential and show promise for social impacts. This was also by the launch of a CGIAR learning platform on agricultural insurance, but they explored research questions for all types of insurance products, including those covering health, funeral, and weather events.

Geoffrey Chirwa
Chairman, TAG
Zambia

Thomas Loster
Chairman, Munich Re Foundation
Germany

Martin Libinga
Registrar, Pensions and Insurance Authority (PIA)
Zambia

Emmanuel Pamu
Permanent Secretary for Budget and Economic Affairs, Ministry of Finance
Zambia

The landscape of microinsurance in Africa

Katherine Pulvermacher
Executive Director, Microinsurance Network
Luxembourg

Keynote: How do low income people need to protect their present and their future?

Daryl Collins
CEO, Bankable Frontier Associates
United States
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Hosted by the Microinsurance Network

For many years, the insurance sector’s contribution to development has been a working hypothesis. The development agenda, as articulated through the UN’s Sustainable Development Goals (SDGs), has brought a focused framework through which this hypothesis can be tested. In this session, we set the stage by reviewing how insurance can contribute to the achievement of specific SDGs, referencing the impact of projects described in the 2018 State of Microinsurance. Renowned experts representing multilateral organisations, global insurers, governments and civil society will then share their insights into the contribution that the insurance sector is making to development, and why it matters: for the sector and for the development agenda.

Rowan Douglas
CEO Capital Science & Policy Practice, IDF/Willis Towers Watson
United Kingdom

Mathieu Dubreuil
Microinsurance Consultant, World Food Programme
Italy
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Shilpi Shastri
Microinsurance specialist, Women’s World Banking
United States

Peter Wrede
Senior Insurance Specialist, World Bank
United States

Facilitator

Craig Churchill
Head, ILO's Impact Insurance Facility
Switzerland
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Hosted by Cenfri

Platforms are emerging across the world to facilitate digital ecosystems that connect buyers and sellers and payers and payees of goods and services. In many countries across emerging markets, superplatforms from Silicon Valley and China are responding to the rise in smartphone penetration, data connectivity and digital payments to expand their business operations. These markets vary significantly in terms of their existing platforms, digital infrastructure and regulation, impacting on the potential gains that can be made from the entrance of these superplatforms for inclusive insurance. This session will seek to compare the conditions for superplatforms across different emerging market regions and what national and regional stakeholders can do to create the right incentives for them to support inclusive insurance market development.

Richard Leftley
CEO, MicroEnsure
United Kingdom

Amolo Ng'weno
East Africa Regional Director for Bankable Frontier Associates
Kenya

Adrien Lebegue
Business Development Director, Zhong An
China

Facilitator

Doubell Chamberlain
Managing Director, Cenfri
South Africa

Hosted by the TAG

Over the last 10 years the microinsurance landscape has evolved rapidly in Zambia. In 2009, microinsurance was dominantly credit life policies distributed by microfinance institutions and covering around 100,000 low-income borrowers. The microinsurance landscape for 2016 conducted by FSDZ for the Microinsurance Technical Advisory Group (TAG) revealed that 1.6 million low-income Zambians are covered by at least one microinsurance product. Zambia is a testament of progress that can be gained from effective engagement and participation of all key stakeholders to accelerate the development of an inclusive insurance sector. The session unpacks Zambia’s road map, intervention strategy and achievements towards the creation of a vibrant inclusive insurance sector. The session covers the TAG’s strategic vision, stakeholder engagement model, demand stimulation initiatives, supply strengthen activities as well as initiatives towards an enabling regulatory framework.

Towards an inclusive insurance sector in Zambia; strategy and journey
Lemmy Manje
CEO, FinProbity Solutions
Zambia


Towards an inclusive insurance sector in Zambia; landscape and market experiences
Mauwa Lungu
Project manager for Inclusive Insurance, FSDZ
Zambia

Towards an enabling regulatory environment; regulation and principles
Titus Nkwale
Deputy Registrar, Pensions and Insurance Authority (PIA)
Zambia

Facilitator

Shipango Muteto
Chairman, 14th IMC Organizing Committee
Zambia
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More than Digital plus Traditional – building disruptive business models to improve insurance penetration in Kenya
Indira Gopalakrishna
Digitization and Innovation Lead, Equity Insurance Agency
Kenya
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Cebuana Claims RAPIDO: Making microinsurance matter when it matters the most
Jonathan D. Batangan
First Vice-President and Group Head, Cebuana Lhuillier Insurance Solutions
Philippines

Online Rural Kiosks – Distribution Beyond Mobile
Balachandran M K
Vice President, HDFC ERGO GIC LTD
India
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Facilitator

Richard Leftley
CEO, MicroEnsure
United Kingdom
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Hosted by Milliman

This session will tackle the successes, failures, and nuances of the product development and monitoring processes through two cases of new and innovative health microinsurance products from Egypt and Kenya. The audience will learn about the approaches used and early results of designing and developing hospital cash products with innovative benefits structures and procedures aimed at addressing the range of issues around health that are faced by low-income families. The panelists will also present on the importance of client insights in monitoring, evaluating, and implementing changes to a product to increase its value for clients and, in turn, performance for the insurer.

Insuring small scale tea farmers with an innovative microhealth insurance product
Saurabh Sharma
General Manager - Microinsurance, Britam
Kenya
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Hadil Abdelkader
Head of Emerging Customers & Public Affairs, Axa Life
Egypt
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Michael Weilant
Principal and Consulting Actuary, Milliman
United States
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Facilitator
Michael J. McCord
Managing Director, Microinsurance Centre at Milliman
United States

Bundling weather index-based crop insurance and credit in Senegal: effects of mandatory versus voluntary product integration on take-up
Mame Mor Anta Syll
Research Coordinator, University Gaston Berger
Senegal
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Farmer Recollection and Remote Sensing in Weather Index Insurance for Agriculture in the Developing World: an Ethiopia Case Study
Bristol Powell
Senior Research Staff Assistant, IRI Columbia University
United States
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Facilitator

Glenn Harrison
C.V. Starr Chair of Risk Management & Insurance, Robinson College of Business, Georgia State University
United States

Hosted by the ILO's Impact Insurance Facility Insurers have been developing business models to serve the low income and emerging consumer market segments, as a way to adapt their existing structures in order to operate in new markets that require: products that are relevant in terms of risks, access and experience; a diversity of partnerships to be able to reach out to clients; and the implementation of new technologies and communication in order to improve the perception and utilisation of insurance. This panel includes global and regional insurance companies that have put in place some of these elements in place as part of their strategy to develop new programmes for underserved market segments in Africa.

Marième Ba
Head of emerging customers, AXA Mansard
Nigeria

Indira Gopalakrishna
Digitization and Innovation Lead, Equity Insurance Agency
Kenya
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Paul Musoke
Director, Financial Institutions, FSD
Africa
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Saurabh Sharma
General Manager - Microinsurance, Britam
Kenya
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Facilitator
Miguel Solana
Senior Technical Officer, International Labour Organization
Switzerland

Hosted by ILO's Impact Insurance Facility

The session will highlight and showcase the various partnership models are being implemented by a diversity of stakeholders for building scale and creating value in agriculture insurance. Examples from both "developing" and "mature" markets for agriculture insurance, assisted by creative use of technology will help the audience understand how the operations of government supported schemes has been unpacked for assisting the field force and the target customers. Scenarios from different countries will demonstrate the challenges and support factors in developing synergies for implementing large schemes at the ground level for successfully scaling them and providing benefits.

Balachandran M K
Vice President, HDFC ERGO GIC LTD
India
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Ashok Shah
Group CEO, Apollo Investments Limited
Kenya
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Hailemelekot Teklegiorgis
Manager-in-charge - Financial Services, Ethiopian Agriculture Transformation Agency
Ethiopia
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Facilitator
Pranav Prashad
Senior Technical Officer, International Labour Organisation
Switzerland

Hosted by CGAP and the Microinsurance Master

Customer centricity works for microinsurance. With a good understanding of customer needs and wants, microinsurers can build real solutions that are valued by clients. Increased client satisfaction leads to more loyal clients that provide referrals. This, in turn, leads to value for the microinsurer and its distribution partners. In this session we will bring together leaders with an impressive customer-centric track record and dive deep in what it takes to successfully build customer-centric products and claims processes.

Gilles Renouil
Director, Microinsurance, Women's World Banking
United States

Lorenzo Chan
Pioneer Insurance
Philippines

Antonique Koning
Senior Financial Sector Specialist, CGAP
United States

Facilitator
Bert Opdebeeck

Founder, Microinsurance Master
Belgium

Hosted by ILO's Impact Insurance Facility

“Health and inclusive insurance” is often a difficult topic to navigate. While hospital cash plans have enjoyed success, private voluntary comprehensive cover for low-income families has often proved unsustainable. Government-led health insurance schemes are largely better placed to provide inclusive health insurance to those typically excluded from cover at an affordable (cross-subsidised) rate, however often face many operational challenges. In this session we explore how the private sector can complement and boost national health initiatives, and how lessons from public and private health sectors can be shared on the journey to realising the UN’s sustainable development goal for health.

Lydia Dsane-Selby
Deputy Chief Executive - Operations, NHIA
Ghana
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Christina Tümmers
Mobile Health Division Manager, BIMA
Ghana
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Isaiah Okoth
Country Director, PharmAccess Foundation
Kenya
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Facilitator
Lisa Morgan
Technical Officer, International Labour Organization
Switzerland

Hosted by the World Bank
Over the last 10 years the evolution of agricultural insurance in Africa has been driven by the development of more efficient distribution channels and a gradual shift from using micro-level to more meso-level channels. This has opened up new markets for insurers, while enabling aggregators and the farmers they work with to benefit from a wider range of risk mitigation solutions. There are a number of cases where PPPs have been leveraged in product distribution. This session seeks to explore the reasons behind this recent development, achievements made and sustainable ways in which such partnerships can achieve greater impact.

Marième Ba
Head of emerging customers, AXA Mansard
Nigeria

Hailemelekot Teklegiorgis
Manager-in-charge - Financial Services, Ethiopian Agriculture Transformation Agency
Ethiopia

Humphrey Mulele
Manager Agriculture Specialities, Mayfair
Zambia

Saskia Kuhn
Advisor, GIZ
Germany
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Timothy Gotora
Southern and Eastern Africa Country Engagement Manager, African Risk Capacity Agency Secretariat
South Africa

 

Facilitator

Sharon Adhiambo Onyango

Financial Sector Specialist, World Bank Group
South Africa

Hosted by insight2impact

Large levels of informality in SSA undermine insurers’ attempts to quantify and underwrite the risks of individuals and small businesses. The availability of new sources of data from social media, IoT, mobile, satellite and aerial imagery allows insurers to effectively reach customers on whom this data was not available before. It also allows for new products and delivery approaches that can improve value of the product to the end customer. This is not only pushed from data experts, but insurers themselves are reporting an interest in using alternative data. In this session, practitioners will provide, for discussion, examples of the application of alternative data in insurance provision.

Picture-Based Insurance (PBI): Using Picture-Streams from Farmers’ Plots to Assess Crop Damage

Francisco Ceballos
Senior Research Analyst, International Food Policy Research Institute (IFPRI)
United States
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Belhassen Tonat
General Manager / Non-Life, Munich Reinsurance Company of Africa
South Africa
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Mia Thom
Technical Director, Cenfri
South Africa
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Megan Lawrence
Managing Director of Customer, Strategy and Data Analytics, Hollard
South Africa
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Facilitator
Herman Smit
Technical Director, Cenfri & i2i
South Africa

Hosted by GIZ

MSMEs are more vulnerable than larger enterprises, yet they generally lack adequate risk management strategies. As enterprises grow, the financial losses from an adverse event are likely to exceed what they can cover with informal risk mitigation. Formal insurance products are a promising tool to increase the resilience of MSMEs, spur business investments and, thereby, contribute to enterprise growth. However, uptake of insurance remains low amongst MSMEs and MSMEs generally remain a peripheral target market for insurers. Consequently, the guiding question this panel will address is: How can insurers, InsurTech, distributers, governments, donors etc. act to develop a better insurance market for MSMEs?

Gregor Sahler
Advisor, GIZ - Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH
Germany

Maroba Maduma
Communications Executive, SA Taxi
South Africa

David C. Muchiri
Associate Director, Equity Insurance Agency
Kenya

Facilitator
Jeremy Gray
Engagement Manager, The Centre for Financial Regulation and Inclusion (Cenfri)
South Africa

Hosted by GIZ
Reaching smallholders with insurance that promotes their businesses, incomes and protects their livelihoods has been challenging, especially when it comes to delivering insurance to farmers. Contract farming has proven to be a sustainable business model as all involved actors benefit from the insurance: (1) farmers benefit from the insurance, as they feel “safer” to take the risk of entering into a cash crop delivery contract and investing in their businesses, (2) the contract farming operator benefits through lower side-selling, higher crop deliveries and a stronger loyalty of farmers and (3) the insurance company is able to reach customers (small-scale farmers) they would normally not be able to serve due to high administrational and logistical costs. The session presents experiences from countries where insurance has been successfully linked to contract farming.

Agrotosh Mookerjee
Managing Director, Risk Shield Ltd.
Zambia

Milimo Mdimba
Operations Manager, NWK AgriServices
Zambia

Joseph Saiti
Intervention Manager, Malawi Oilseeds Sector Transformation
Malawi

Saskia Kuhn
Advisor, GIZ
Germany

Hosted by the World Bank
Janice Angove
Actuary
South Africa
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Michael J. McCord
Managing Director, Microinsurance Centre at Milliman
United States
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Facilitator
Craig Thorburn
Lead Financial Sector Specialist, World Bank
United States

Hosted by Women's World Banking
Most insurers believe that offering insurance to the low-income market is not viable in the long run because it swallows too many resources and does not deliver proper value to clients. In this session, Women’s World Banking, with their partners, SCBF, Lead Foundation and Swiss Re, will debunk this misconception with a discussion about how they built customer-centric, commercially viable life and health insurance schemes in various markets using a responsive, data-driven optimization approach to product development that achieved breakeven under 4 years.

Amir Nafie
Deputy Executive Manager, Lead Foundation
Egypt

Mario Wilhelm
Head of Emerging Consumers, Swiss Re
Switzerland

Hans Ramm
Swiss Agency for Development and Cooperation (SDC)
Switzerland

Facilitator
Shilpi Shastri
Microinsurance specialist, Women’s World Banking
United States

Hosted by InsuResilience / Microinsurance Network
By using disaster risk finance and insurance, the InsuResilience Global Partnership aims to help developing countries and poor and vulnerable people to strengthen their resilience in the wake of extreme weather events. Governments can insure themselves against climate risks through macro-level insurance schemes, while micro-level insurance provides coverage directly to individuals. For both mechanisms to achieve their full impact, they must be aligned, especially where they target the same beneficiaries. This panel aims to identify the challenges and opportunities of linking micro- and macro-level insurance. The discussion will cover the perspective of practitioners and the public and private sectors.

Richard Kyuma
Program Coordinator, Kenya Livestock Insurance Program (KLIP)
Kenya
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Mathieu Dubreuil
Microinsurance Consultant, World Food Programme
Italy
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Timothy Gotora
Southern and Eastern Africa Country Engagement Manager, African Risk Capacity Agency Secretariat
South Africa

Facilitator
Raúl Fernández
Project Associate, Munich Climate Insurance Initiative
Germany

The road to developing and implementing bundled insurance in the South Pacific: The Key Lessons
Peter McPherson
Managing Director, FijiCare Insurance Limited
Fiji
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Pioneering Microinsurance in Bangladesh
Monirul Hoque
Deputy Manager, BRAC
Bangladesh
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Oliver Ullrich
Senior Business Development, Allianz X
Germany
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Facilitator
Denis Garand
Denis Garand and Associates
Canada

Hosted by CGIAR

Agricultural insurance is an important tool in enhancing smallholder farmers’ adaptive capacity. To unlock its full potential, it is critical to address key knowledge gaps and bring together experts from across the insurance, climate change and agricultural research communities. This session will highlight partnerships between insurance industry and CGIAR researchers that are aiming to overcome these knowledge gaps. We will discuss the value of such multi-stakeholder action and the potential role of CGIAR’s global research in addressing scaling challenges such as limited data availability, use of technology and remote sensing, bundling with climate-smart agriculture and capturing the agricultural value chain.

Berber Kramer
Research Fellow, International Food Policy Research Institute
United States
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Rahab Kariuki
Managing Director, ACRE Africa
Kenya

Nathaniel Jensen
Economist, International Livestock Research Institute
Kenya

Facilitator
James Hansen
Research Scientist, International Research Institute for Climate and Society (IRI)
United States

Hosted by A2ii

Digital technologies are changing the insurance landscape by paving the way for new players and business models, bringing the potential to expand coverage faster than ever before. While this exponential growth comes with enhanced efficiencies and lower costs across the product lifecycle, it also brings new risks to consumers. We will explore how insurance supervisors can create environments that enable and encourage innovation while at the same time protecting consumers and what lessons can be learnt from around the world.

Hannah Grant
Head of Secretariat, Access to Insurance Initiative (A2ii)
Germany

Belhassen Tonat
General Manager / Non-Life, Munich Reinsurance Company of Africa
South Africa

Elias Omondi
Actuarial Associate, Insurance Regulatory Authority
Kenya
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Facilitator
Craig Thorburn
Lead Financial Sector Specialist, World Bank
United States

Key findings of the conference
Maria Victoria Saenz
Consultant / Rapporteur
United States
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Inclusive Insurance 2030
Pravin Kalpage
Central Head of Life, Hollard
South Africa
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The evolution of mobile microinsurance
Rishi Raithatha
Analyst - Mobile for Development, GSMA
United Kingdom
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Welcome of the 15th IMC 2019
Nishith Kumar Sarker
Secretary General, BIA
Bangladesh

Closing remarks
Shipango Muteto
Chairman, 14th IMC Organizing Committee
Zambia

Doubell Chamberlain
Chairman of the Board, Microinsurance Network
Luxembourg

Facilitator
Dirk Reinhard
Vice Chairman - Chairman of the Conference Steering Committee, Munich Re Foundation
Germany