PRESS RELEASE: International Conference on Inclusive Insurance, Nepal 2024

Driving Global Momentum for Inclusive Insurance

Media registration is open for the hybrid event press conference to be held at 12:30 AM local time (08:45 AM CEST) on Tuesday, 22 October

Kathmandu, Nepal, 10 October: The International Conference on Inclusive Insurance 2024 (ICII 2024) is set to take place from 21-25 October in Kathmandu, Nepal.

The milestone 20th edition of the conference will be hosted by the Nepal Insurers’ Association, Life Insurance Association Nepal, Nepal Microinsurance Association and the Nepal Insurance Authority in cooperation with the Munich Re Foundation and the Microinsurance Network. This year’s conference is expected to draw over 400 participants from across the globe, including experts from NGOs, development-aid organisations, regulatory bodies, policy experts, and the insurance industry, all focused on advancing inclusive insurance solutions for low-income and vulnerable households and micro, small, and medium-sized enterprises (MSMEs).

The event will feature a dynamic programme with 24 sessions, including keynote speeches, plenary sessions, panel discussions, workshops, field trips, and a press conference for registered media to attend in-person and online. The agenda will focus on critical topics such as climate risk insurance, digital innovations in microinsurance, and strategies to overcome barriers to scaling inclusive insurance. Highlights of the conference include:

Inaugural Session (22 October): The conference will be inaugurated by the Vice President of Nepal, Rt. Hon'ble Ramsahay Prasad Yadav, who will deliver a keynote address on the role of inclusive insurance in enhancing financial resilience for vulnerable communities in Nepal and beyond. We will also hear a keynote speech from Arup Chatterjee, Principal Financial Sector Specialist at the Asian Development Bank (ADB), and a special video message by Professor Jeffrey D. Sachs, Director of the Center for Sustainable Development at Columbia University, President of the UN Sustainable Development Solutions Network, and SDG Advocate for UN Secretary-General António Guterres.
Plenary and Parallel Sessions: These will explore key themes such as "Climate Change and Disaster Risk Finance", "Bridging the Insurance Gap: Challenges and Opportunities", and "The Role of Technology in Expanding Access to Insurance". The initial findings from the Microinsurance Network's Landscape of Microinsurance Study 2023 will be presented, offering insights into market trends and developments, identifying areas for further growth in inclusive insurance.
Workshops: Interactive pre-conference workshops will cover practical approaches to designing and implementing inclusive insurance products, with a particular focus on reaching underserved populations.
Field Trip (25 October): Participants will have the opportunity to visit and experience a local inclusion programme in Nepal, providing a first-hand look at the impact on communities.
The agenda is available here.

A press conference will follow the inaugural session, featuring remarks from Surya Prasad Silwal, Chairman of the Nepal Insurance Authority; Chunky Chhetry, CEO of Sagarmatha Lumbini Insurance and President of the Nepal Insurers' Association; Dirk Reinhard, Vice Chair of the Munich Re Foundation; and Lorenzo Chan, Chair of the Board of the Microinsurance Network. The press conference will be held at 12:30 AM local time (08:45 AM CEST) on Tuesday, 22 October, in Conference Room A.

To register for in-person or virtual attendance at the press conference, please contact: Subheksya Singh, Project Manager, ICII 2024: iciinepal2024@nia.org.np

Surya Prasad Silwal, Chairman of the Nepal Insurance Authority, stated:
“Hosting ICII 2024 is a significant milestone for Nepal. We are committed to expanding access to insurance for all segments of our population, particularly those in remote and underserved areas. This conference will enable us to learn from international best practices and work with global partners to strengthen our national strategies.”

Chunky Chhetry, CEO of Sagarmatha Lumbini Insurance and President of the Nepal Insurers' Association, stated:
“This conference is a significant opportunity to unite global experts and stakeholders in our shared mission of promoting inclusive insurance. By collaborating and sharing insights, we can focus on collaboration and innovation in inclusive insurance, ensuring financial protection for underserved populations.”

Dirk Reinhard, Vice Chair, Munich Re Foundation and Chairman of the Steering Committee of the ICII 2024, remarked:
“The challenges of closing the insurance gap are immense, but so too are the opportunities. Affordable risk management is key for sustainable economic development. The International Conference on Inclusive Insurance taking place in Nepal this year offers a unique opportunity for stakeholders from around the world to collaborate and advance the inclusive insurance agenda. Together, we can make significant strides in ensuring that more people have access to the financial safety nets they need to build better futures.”

Lorenzo Chan, Chair of the Board of the Microinsurance Network, added:
“While the microinsurance market has seen encouraging growth, there is still much work to be done to make insurance accessible to all. The insights and strategies shared during ICII 2024 will be instrumental in driving the expansion of inclusive insurance, particularly in regions where the need is greatest.”

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Notes to Editors:

Munich Re Foundation

The Munich Re Foundation was set up as a non-profit organisation in 2005. At the heart of our Foundation is Munich Re’s commitment to act responsibly and share knowledge. Based in Munich, our activities span the globe, primarily in emerging and developing countries. We tackle pressing global challenges and develop solutions for people at risk. At the core of our Foundation lies a responsibility to enhance the well-being of communities through a deep understanding and adept management of risks. It’s not just about mitigating threats – it’s also about utilising the wealth of knowledge within Munich Re for the benefit of society. We concentrate on climate risk and adaptation, climate change mitigation and inclusive insurance which complements Munich Re’s sustainability agenda.

The Microinsurance Network

The Microinsurance Network is the global multi-stakeholder platform for professionals and organisations that are committed to making insurance inclusive. Membership-based, we bring together diverse stakeholders from across the value chain who share our vision of a world where people of all income levels are more resilient and less vulnerable to daily and catastrophic risks. We encourage peer-to-peer exchange and learning, facilitate the generation of knowledge and research, and act as advocates, promoting the role that effective risk management tools, including insurance, play in supporting the broader development agenda.

Media Contacts:

Dirk Reinhard

Munich Re Foundation

dreinhard@munichre-foundation.org

+49 160 704 6016

Helen Wright

Lysander PR

helen@lysanderpr.com

+44 7842 729 579

Michelle Worvell

Lysander PR

Michelle@lysanderpr.com