Translating global knowledge into local action

Thursday, June 25, 2015

Microinsurance Network members agree on best approaches for success of the sector

As the annual meeting of the Microinsurance Network members came to a close in Königstein yesterday, the experts present agreed that knowledge exchange and advocacy is more important than ever to promote effective insurance and lead to more informed action, given the momentum provided by global discussions on resilience, risk mitigation and financial inclusion.

The role of the Network in bringing together sector players to foster knowledge sharing and collective action was identified as crucial for the sector to achieve scale in an effective manner, balancing business and client interests for long term sector sustainability. The exchange of knowledge and lessons learned amongst key organisations and businesses in the field of microinsurance will, with the Microinsurance Network facilitating these opportunities, enable global knowledge to result in local action, leading to better decision making, new partnerships and a real impact on the ground.

In numerous sessions, members were given a platform to share their concerns, knowledge and experience and use other experts as a sounding board. This type of experience-based learning is widely agree to be essential to the development of the nascent and complex microinsurance sector, exemplified by the presence of a new member who very recently started offering microinsurance and was privy to a wealth of information, advice and networking with experienced global players at the meeting.

“The Microinsurance Network can facilitate exchange between local players and peers from other countries and regions, which face similar challenges, to gain access to successful innovators. This is a really powerful resource for our members and the sector going forward”, says Mandla Shezi, from Hollard and secretary to the Board of the Network.

In the spirit of translating global knowledge acquired from expert meetings like the June Member Meeting into local action, “the Network is going to concentrate on increasing regional presence in Latin America, Asia, and Africa by providing effective opportunities for peer learning and advocacy work”, explains Michael J. McCord, chair of the Microinsurance Network and president of the MicroInsurance Centre.

Read full press release here (English version)

Click here for the French version
Click here for the Spanish version