Monday, January 18, 2016
In November 2015, during the 11th International Microinsurance Conference in Casablanca, Morocco, regulators, supervisors and industry representatives came together for the 5th Consultative Forum, which focused on “Consumer education: Old questions, new thinking”. The Forum, organised by the Microinsurance Network, the Access to Insurance Initiative (a2ii), the International Association of Insurance Supervisors (IAIS), with the support of the Munich Re Foundation, served as a platform for dialogue on microinsurance issues pertaining to regulation.
Consumer education is more important than ever in today´s rapidly changing insurance business environment. The increased reliance on digital disruption has had a great impact on both the dissemination of financial education and the range of customers involved. Furthermore, there is a significant increase in the number of public-private, multi-stakeholder efforts supporting financial education in inclusive insurance, and some emerging trends can be identified.
The full summary note illustrating the Forum´s key takeaways for supervisors and policymakers, as well as for the industry, can be read here.