Ten years of inclusive insurance experience rolled into one week

Wednesday, June 13, 2018

The ILO's Impact Insurance Facility is organising an Impact Insurance Academy through a combination of plenary sessions tailored to participants, as well as activities, case studies and intensive discussions. This will aim at offering a dynamic learning environment for attendees and experts from all around the world to discuss developing inclusive insurance.

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Microinsurance policy responding to protection needs of crafts workers in Bolivia

Wednesday, June 13, 2018
Over 500 craftsmen and women from the OEPAIC Network (Cultural Crafts Workers Network - loosely translated from Spanish) have purchased a life/accident microinsurance policy for a yearly premium of USD 5.4.
 
This inclusive policy covers the insured, in cases of natural and accidental death, as well as medical expenses up to USD 300 for accidents.
 
Ms.
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African smallholder farmers get USD 1.5m insurance payout

Friday, May 18, 2018
Low rainfall in parts of Africa has triggered the largest insurance payout to date for vulnerable farmers under the World Food Programme and Oxfam America's joint R4 Rural Resilience Initiative (R4), an innovative climate risk management scheme.
 
Farmers in Ethiopia, Kenya, Malawi, Senegal and Zambia, who are participating in R4, will receive insurance payments totalling USD 1.5m to compensate for weather-related crop losses.
 
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Beyond data - leveraging technology for inclusive insurance

Monday, March 26, 2018
The 12th Consultative Forum (CF12) on the topic of InsurTech: rising to the regulatory challenge took place on 20 March in Colombo, Sri Lanka gathering high-ranking representatives from the regulatory and supervisory bodies (in Asia), industry, NGOs and other stakeholders. 
For InsurTech to facilitate the way to inclusive insurance, continued dialogue on regulatory approaches to innovation and consumer protection is necessary.
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Insurance sector looks to balance technological innovation and consumer protection

Monday, March 19, 2018
InsurTech promises vast potential for transforming the world of insurance. These emerging technologies and innovative business models are already disrupting the industry, and bringing positive changes to how inclusive insurance operates, fostering better product design and risk assessment, improving efficiency and reducing costs. These efficiency gains can lead to lower premiums, better client servicing and faster payouts. Ultimately they translate into greater access and better value for low-income and emerging consumers. But InsurTech innovation could also have negative implications, for example by potentially increasing the risks of cyber-attacks, or by excluding lower income and higher risk consumers.
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