IRDA setting Guidelines for Bancassurance
The Insurance Regulatory & Development Authority (IRDA) is working on a set of guidelines for the bancassurance segment that willnable insurers to pass on the benefit of savings in distribution of policies through the channel.
“It is an established fact that the cost of distributing products through the bancassurance channel is less than that of the agency channel where an advisor spends more time and money to travel and convince clients", Mr R Kannan, member actuary, IRDA.
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Pre-Conference on Community-Based Health Insurance: The New Way to Address Global Health Risks?
Taking advantage of having a number of like-minded funders in one place during the AGA conference, a series of pre-conference events will be taking place on Wednesday 13 May 2009 that will offer a chance for collaboration among conference participants on a range of issues.
One of these pre-conferences will deal with Community-Based Health Insurance.
13 May 2009, 14h30 - 17h30, Venue: Rome Cavalieri
Chairs: Kate Harrison, Comic Relief, and Karen Hoehn, Deutsche Stiftung Weltbevolkerung
Kenya Government engages Insurance Sector to Expand Coverage
Capital Business, 4 April 2009
Kenya’s overall insurance penetration is still very small, at 2.6 percent, compared to other emerging economies such as South Africa which stands at 14.6 percent and India at 3.7 percent.
Deputy Prime Minister and Minister for Finance Uhuru Kenyatta noted that although the insurance industry had registered marginal growth in penetration - from 2.5 percent in 2006 to 2.6 percent in 2007- further reforms would enhance insurance coverage among the erstwhile, unserved groups.
Microinsurance Seminar at the AAI/IAA Conference
Wednesday, May 27, 2009, in Tallinn, Estonia
The AAI/IAA Council and Committee Meetings in Tallinn (26 - 30 May 2009) include a day long seminar on Microinsurance.
For more information on the Meetings, go here
Download the seminar programme here
Training on Scaling Microinsurance in Developing Countries
April 20-26, 2009, Chennai, India
The Center for Insurance and Risk Management (CIRM) of the Institute for Financial Management and Research (IFMR) in Chennai, in collaboration with the Wharton School of the University of Pennsylvania, is offering a training program titled ‘Scaling Microinsurance in Developing Countries’ from April 20- 26, 2009 in Chennai, India. The main objective of the training program is to aid organizations providing microinsurance services in developing countries to design insurance contracts and to underwrite and price micro-insurance products. According to the organizers, the need for such training stems from the fact the growth of microinsurance services has not been as substantial as compared to microfinance, despite the high demand for microinsurance. The program is directed at insurers, re-insurers, large community agencies, technical support agencies, brokers etc of developing countries.
Go here for more information (Microcapital)
Experts proffer solution for insurance growth in Africa
The Guardian, Nigeria, 2 April 2009
Experts at the international insurance seminar organised by the African Insurance Brokers Association (AIBA) in Lagos agreed that the potentials of insurance in Africa were enormous but for the market to exploit its full potentials, these issues holds the key to the transformation of insurance potentials in the continent.
To achieve the expected transformation of the insurance and reinsurance potentials in Africa, operators must tackle the issue of capacity building in the continent which had reduced the level of risks underwriting companies could accept.
Beside, insurance practitioners in Africa need to focus on development of new products that can meet the needs of various groups in the society, develop human capital, information technology and good corporate governance among others.
More information here
Taiwan's Financial Supervisory Commission plans to offer microinsurance
Reuters Digest, 29 March 2009
from UNITED DAILY NEWS
Taiwan's Financial Supervisory Commission plans to offer microinsurance, charging a fifth of normal premiums for healthcare, helping about 2.5 million borderline poor people.
Go here to read full article in Chinese
Related article at Taiwan Journal, 3 April 2009