CGAP Working Group on Microinsurance 2002 - 2009
The Microinsurance Network was originally established in 2002 as the CGAP Working Group on Microinsurance by donor organisations, multilateral agencies, NGOs, private insurance companies and other interested parties.
Sixteen experts met for the first time in Geneva to discuss the need for an exchange and learning platform to ensure microinsurance fulfils its potential. A year after the first meeting, in May 2003 in London, the first working groups were created to better co-ordinate the group’s activities, which included an operations, demand and dissemination working group.
The result was the first project of the Network: "The Good and Bad Practices in Microinsurance" case studies, which provided the basis for the 2006 key publication "Protecting the Poor: A Microinsurance Compendium".
Microinsurance Network 2009 - Today
After having outgrown its informal systems and procedures, the Microinsurance Network decided that it needed a clearer membership and organisational structure to accommodate the expansion of interest and activities in microinsurance and the arrival of new stakeholders. As a direct result, the Microinsurance Network was officially launched in 2009 with a secretariat based in Luxembourg.
Since then, the Network has grown to have over 70 institutional members representing over 280 experts in 11 different working and discussion groups.
As of the 31 May 2012, the Microinsurance Network is an independent structure and is registered as a non-for-profit organisation in Luxembourg, becoming fully operational on March 1, 2013.
2012 was also the 10-year anniversary of the Microinsurance Network. It is still today the only global multi-stakeholder platform that promotes the development of good-value insurance services for low-income persons through the sharing of lessons learned together.
The above graph provides a visual representation of the evolution of the Microinsurance Network up to 2012.
Access to Insurance Initiative
The Regulation, Supervision and Policy Working Group set up the Access to Insurance Initiative together with the International Association of Insurance Supervisors (IAIS). It is housed at GIZ and aims to support the implementation of sound policy, regulatory and supervisory frameworks.
ILO's Impact Insurance Facility
The Operations Working Group metamorphosed itself into the ILO’s Microinsurance Innovation Facility, known today as the ILO's Impact Insurance Facility which was initially funded by the Bill and Melinda Gates Foundation and seeks to increase the availability of quality insurance through grants, research and capacity building.