Insights and perspectives

This blog provides a platform for sharing insights and perspectives on topical issues in microinsurance. If there is a topic you would like to write about, please contact the Network secretariat.

Is microinsurance becoming “smart”?

An insight on technological advances in insurance offerings today

An eye-opening session took place at the 12th International Microinsurance Conference in Sri Lanka on the use of technology in microinsurance, presenting a number of interesting innovations on the way insurance can be offered.

7 things I learned from the Microinsurance Network field trip and workshop on microinsurance distribution

What if you could simply swipe your card every time you wanted to pay for a minibus taxi ride? That might be more convenient than carrying the right change in cash... But what about if you are automatically insured for the trip you’re about to take, as a result of using that card? Now that’s an incentive, isn’t it?

African countries’ experiences and perspectives from the 6th Consultative Forum

The second day of the 6th Consultative Forum on “Innovative products for the emerging consumer”, in Marrakesh, was organised into two breakout sessions, for regulators and industry participants to present insights and propose recommendations for microinsurance innovative product development.
 
Product design
Microinsurance products need to be designed in a way that is socially responsible and adds value to the end consumer.

What future for donor engagement in microinsurance?

The Expert Forum “Understanding donor engagements in microinsurance”, organised by the Network last month with support from Making Finance Work for Africa (MFW4A),  presented findings from the the landscape of donor activity study, commissioned by the Network in 2015 and carried out by LMG Consulting and centred on the future outlook for donors in the microinsurance space and the priority areas in which they aim to focus their funding efforts going forward.

Microinsurance is InsurTech and there is more to come

For many years the FinTech buzz was primarily focused on banking. Last year that all changed when 2015 was labelled the year of InsurTech. Last year InsurTech start-up funding exceeded $2.5 billion. This trend continued in the first quarter of 2016, with 45 InsurTech deals generating over $650 million, according to CB Insights data. 
 
It’s hard to say exactly how many InsurTech companies exist today, but some trackers report well over 500. This includes innovations ranging from product development to distribution to claims, and everything in between.

Cracking the distribution challenge in Africa

The third and final module, which concluded the Microinsurance in Africa Expert Forum series took place in April with around 40 participants joining facilitator Brandon Mathews, of Stonestep and topic expert Michael J. McCord, Chair of the Microinsurance Network and President of the MicroInsurance Centre in an interactive discussion centred on distribution and innovation in Africa.

Is there a business case for microinsurance in Africa?

The second module of the Microinsurance in Africa Expert Forum series took place at the end of March, with around 50 participants joining facilitator Bert Opdebeeck, Microinsurance Programme Coordinator at BRS, the Belgian Raiffeisen Foundation, and topic expert Michael J.

Disruption: Friend or foe?

In a challenging economic environment, the insurance industry is always looking for new opportunities to maintain growth. Market consolidation, enhancing the customer experience, innovative uses of digital technology as well as expansion into new markets are all being explored as methods to adapt to the rapid changes of the industry. 

InsurTech promise for microinsurance – rising to the regulatory challenge

Digital technologies are rapidly changing the insurance landscape worldwide. In Africa currently, mobile insurance is prevalent, but other digital technologies are on the rise too,  helping to provide a large number of households with coverage for the very first time.

Technology, social inclusion and regulatory innovations in the insurance industry in Europe

The Microinsurance Network attended the 2017 FARAD Finance Forum which took place in Luxembourg earlier this month. Organised by FARAD International, an independent insurance broker specialised in the Private Life Insurance sector, the event was held as a full-day forum for the first time, and brought together players of the three pillars of the financial industry: the banking sector, the insurance industry and investment funds.

Automation using artificial intelligence poised to be the next game changer in the insurance industry?

InsurTech Integrated to launch discussions stressing the need to leverage the power and potential of advanced data technologies to achieve enhanced efficiency in business workflows.

Microinsurance innovators and The Financial Inclusion Challenge

While microcredit and savings have historically dominated the financial-inclusion conversation, there is growing recognition for the innovative ways that microinsurers are bringing services to the people who need them most.

“The Financial Inclusion Challenge” competition, run by The Wall Street Journal, showcases nonprofit and for-profit enterprises that are solving problems of financial access for the poor in the Asia-Pacific region.

No wikis have been added to this group.