Features
The Bogotá Declaration: A commitment towards sustainable insurance in Latin America and the Caribbean
The recent launch of the Bogota Declaration on Sustainable Insurance was a pivotal moment for the Latin America and Caribbean region in its commitment to sustainable development. Signed by insurance leaders across the region, the agreement aims to enhance resilience, foster collaboration, raise awareness, and build capacity in sustainable insurance.
In this article, we highlight the potential outcomes of the declaration and hear from some MiN members about the significance of the agreement and why they have pledged their support.
Animated videos in microinsurance: Improving financial literacy in the Pacific Islands
Financial literacy is one of the key barriers to the adoption of microinsurance services in many underserved communities around the world. In order for there to be meaningful take-up of insurance products, effective financial literacy strategies must be pursued to increase understanding and access to insurance, particularly in the low-income sector.
In this article, we look at how two parties - Rural Inclusion and Solutions Studio - collaborated to develop and launch a significant new project aimed at building greater financial literacy awareness among underserved users in the Pacific Islands to encourage the take-up of disaster risk insurance products and services.
Meet our new institutional members
Aseguradora Rural, a member of the Banrural Financial Group in Guatemala, is committed to the rural and comprehensive development of the country, focusing on farmers, merchants, artisans, and small to medium-sized business owners. With national coverage, the company stands out for its ISO 9001-2015 certification and involvement in innovative climate risk insurance projects. Its mission is to be an insurance entity oriented towards rural development, while its vision is to become the leading insurer in rural areas, offering innovative and widespread products with fair premiums, fulfilling the social role of insurance. This approach reflects its commitment to sustainable development and support for key sectors of the Guatemalan economy.
Autorité de Régulation et de Contrôle des Assurances (ARCA) | Democratic Republic of Congo
The “Autorité de Régulation et de Contrôle des Assurances”, ARCA for short, is a public institution of a technical nature with legal personality and its head office in Kinshasa, in the Democratic Republic of Congo (DRC). It ensures the protection of the rights of policyholders and beneficiaries of insurance contracts. It has all the powers necessary to carry out the actions provided for by the Insurance Code.
ARCA works to develop the activities within its scope and ensures that they are conducted in accordance with good practice. It has the power to investigate all claims relating to insurance transactions against the companies it supervises. It ensures compliance with legislation to combat money laundering and the financing of terrorism.
CIC Insurance Group Plc | Kenya
The Cooperative insurance company (CIC) Group has more than five decades providing flexible insurance and financial services built around the needs of their clients. As a leading cooperative enterprise and micro-insurer in Africa, the group has three subsidiaries in Kenya, namely CIC General Insurance Ltd, CIC Life Assurance Ltd, and CIC Asset Management Ltd. The group has a regional footprint with a presence in South Sudan, Uganda, and Malawi. As the only cooperative insurance entity listed at the Nairobi Securities Exchange (NSE), we provide cuttingedge financial services to over 1 million customers through a robust system of 25 local branches, over 1000 financial advisors, and multiple online platforms.
MiN, Members & Partners: Upcoming Events
- MiN June Member Meeting 2024 | 18-20 June 2024 | Save the date
- Feed the Future MRR Innovation Lab | Behavioral Economics Forum: Lessons to Strengthen Development Programming and Policy | Washington, D.C. (with an option to participate online) | 27-28 February 2024 | Register here
- International Labour Organization (ILO) and the United Nations Environment Programme Finance Initiative (UNEP FI) | Webinar “Just Transition Finance: Pathways for Banking and Insurance” | 29 February | Register here
- Microinsurance Master accelerator programme 2024 | From 4 March 2024 | Apply now
- American Council of Life Insurers (ACLI), American Property Casualty Insurance Association (APCIA) and the Life Insurance Council of New York (LICONY) | 5th Annual Expanding Opportunity in Insurance | 6-8 March 2024 | Brooklyn, NY | Register here
MiN, Members & Partners: News, Blogs & Resources
- ABOCOSER celebrates their 10-year anniversary | Watch the event recap
- Ada’s Smallholder Safety Net Upscaling Programme (SSNUP): Empowering women in agri-food systems with impact investing | Read the workshop results
- CNSeg: Insuring the Climate Transition in Brazil | Download the report
- InFiNe: A report on Knowledge Sharing Event with ICFA “Emerging Impact Fund Managers”
- MIC Global and Weather Risk Management Global partner to deliver parametric flood resilience cover to merchants and gig workers in India
Jobs, Internships & RFPs
- A2ii | Intern | Eschborn, Hesse, Germany | Apply by 26 February 2024
- Blue Marble | Multiple job opportunities
- Democrance | Head of Sales | Dubai, UAE
Elsewhere in the sector…
- Global Federation of Insurance Associations (GFIA) report “Insurance: A unique sector”
- Government-run insurance company launches pilot project to provide crop insurance to small tea growers in India
- Hidden climate risks: the future of parametric? - The Parametric Post Issue 65
- Philippines: Regulator considers incentives to boost microinsurance business
- Podcast: Crop insurance is essential armour against farming risks
- Wildfire threat rises: Farmers urged to shield farms with fire insurance