The Network's June Member Meeting (JMM) is the annual meeting for the members of the Network to gain insights into key areas of development in the sector, participate in discussions on topical issues in a relaxed and friendly professional environment, and connect and develop personal relationships with important players in the field.
The date of the next June Member Meeting is not yet set. It will be posted here as soon as it is available.
The Microinsurance Network’s 2017 member meeting brought together over 70 microinsurance experts from across the globe to discuss sector trends, share lessons learned over the past year and identify future focus areas. The meeting was opened by Mr. Romain Schneider, Luxembourg Minister for Development Cooperation and Humanitarian Affairs, who reaffirmed the Government of Luxembourg’s ongoing commitment to supporting financial inclusion worldwide.
The two-day event provided a broad and integrated outlook on how inclusive insurance can help to reduce and manage risk and support international development. Recurring themes included:
- Building resilience through insurance-linked solutions and pre-event mitigation measures
- Innovations in InsurTech that can help reach the under-served
- Opportunities for innovative partnerships
- Regulatory challenges associated with rapidly changing technology
- The role of insurance supervisors in market development
- The need for proportionality in actuarial services
- The importance of industry data for sector development as well as the need for data protection
- How to position the sector vis-à-vis the global development agenda and a changing global landscape.
- The microinsurance sector needs to ensure that the role of inclusive insurance is explicitly and clearly recognised as an enabler for the UN Sustainable Development Goals (SDGs).
- Insurance can play a transformative role when integrated into broader development and risk management strategies.
- As the technologies used to deliver insurance services continues to evolve, there should be a focus on developing new business models that facilitate product innovation. The combination of these new models and reduced operating costs will enable insurers to address new risk categories.
- Supervisory and regulatory bodies have a role to play in guiding market development; as new digital opportunities and innovative partnership models emerge, it is important that policymakers and regulators are kept up to date with market developments so that they can respond appropriately.
- Technical definitions aside, in the context of financial inclusion actuaries should be seen as “trusted advisors providing professional solutions to business problems with quantitative backing and an understanding of how all the moving parts fit together.”
- The Landscape Studies are a highly valued tool for collecting the data and market intelligence needed to support further sector development; with some changes to how the data is collected, it is hoped that significant improvements, better cost-effectiveness and a broader scope can be achieved over the next couple of years.
The event also presented an opportunity to:
- Meet some new Network members from the regions
- Discuss the positioning of the Network in a changing global landscape
- Look at optimising synergies amongst Network members
For more details, download the reports below:
- JMM 2017 (Pdf) - The role of inclusive insurance in risk reduction
- JMM 2016 (Pdf) - Development: A prerequisite for success in microinsurance?
- JMM 2015 (Pdf) - Translating global policy into local action
- JMM 2014 (Pdf) - Putting clients first
Find out about other events in microinsurance on our events calendar at this link.
Read more about the International Microinsurance Conference at this link.