Thursday, May 12, 2016
CGAP held their annual meeting at the Luxembourg Chamber of Commerce earlier this week. The theme of the event centred on "Financial Inclusion for Development" and gathered the oragnisation's Council of Governors and its members, including the Network.
The participants examined global trends in financial inclusion, innovations that aid excluded and marginalised people gain access to needed financial services, and the impact of digital on MFIs.
The Network's Interim Executive Director, Henk van Oosterhout, along with the Chief of Social Finance Programme at the ILO's Impact Insurance Facility's, Craig Churchill presented a session on "What can donors do to support insurance for development?". The presentation outlined the role of microinsurance in development - from micro to impact insurance and how it relates to SDGs, general trends in insurance for development, meso and micro cover, health and agriculture - as well as showing the results of the Network's Donors in Microinsurance Landscape study and including a facilitated discusssion with participants on what this means for donor interventions in microinsurance going forward.
Churchill explained the impact donors in microinsurance can have in pushing frontiers to reach others outside 'the low-hanging fruit', while pointing out that the research indicates that there is indeed value in insurance.
"We see a trend towards donor support in microinsurance market infrastructure," added van Oosterhout, which suggests a shift to a systems approach. It was also noted that priority sectors for donors in the coming years would be agriculture, financial inclusion and climate change, with increased funding projected in all three, especially agriculture.
Aaltje de Roos, from the Dutch Ministry of Foreign Affairs also interjected during the discussion, pushing for, "greater coordination for donor involvement in microinsurance, especially health microinsurance".
The slides presented by the Network at the meeting can be viewed here.
The full study will be available soon.