9 – 11 November 2010 Manila, Philippines Report 6Th International
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Report 6th International Microinsurance Conference 2010 Making insurance work for the poor 9 – 11 November 2010 Manila, Philippines Edited by Zahid Qureshi and Dirk Reinhard Contents 1 Acknowledgements 18 Agenda 50 Agenda Day 2 morning sessions Day 3 morning sessions 2 Agenda Day 1 morning sessions 19 Parallel session 1 51 Parallel session 9 Pre-conference seminars Developing national micro- Driving down cost – Process- insurance strategies – mapping to increase efficiency 3 Pre-conference seminar 1 The example of the Philippines in microinsurance processes Access to insurance – Policy seminar for regulators 22 Parallel session 2 54 Parallel session 10 and supervisors Academic track – Demand issues Developing natio nal micro- insurance strategies 5 Pre-conference seminar 2 24 Parallel session 3 Performance indicators Case studies – Agriculture 57 Parallel session 11 Academic track – Impact on 9 Agenda 27 Parallel session 4 microinsurance Day 1 afternoon sessions Workshop – Introduction to good practice in microinsurance 59 Parallel session 12 10 Introduction and welcome Social performance indicators addresses 29 Plenary 2 for microinsurance Round table – Responses from the 12 Keynote speech private sector in the Philippines 62 Plenary 3 14 Plenary 1 Academic track – Do the poor 32 Agenda Institutional options for benefit from insurance? Day 2 afternoon sessions achieving scale and profitability – 66 Agenda Lessons from the Philippines 33 Parallel session 5 Day 3 afternoon sessions New distribution channels 67 Parallel session 13 38 Parallel session 6 Case studies – Health Protecting the poor against natural disasters 70 Parallel session 14 Claims handling 43 Parallel session 7 Client education – Insurance 74 Parallel session 15 literacy Academic track – Contract design issues 46 Parallel session 8 Life insurance 76 Parallel session 16 Monitoring microinsurance trends globally 79 Plenary 4 Round table – Is there profit in serving the underserved? 82 Field trips 84 Countries represented 86 Participating organisations 88 Acronyms Conference documents and 89 Outlook on Brazil, the host country presentations of the 7th International are available online at: Microinsurance Conference 2011 www.microinsuranceconference.org / 2010 Links: Munich Re Foundation www.munichre-foundation.org Microinsurance Network www.microinsurancenetwork.org Report 6th International Microinsurance Conference 2010 1 Acknowledgements This report is a summary of the 6th For three days, over 80 speakers lessons drawn in various sessions of International Microinsurance Confer- and facilitators discussed innovative the 2010 conference. They have done ence that took place in Manila, Philip- and sustainable microinsurance a terrific job summarising the content pines, from 9–11 November 2010. programmes, illustrated by the latest and key messages of the speakers’ The Conference was hosted by the case studies and research results. presentations and the different views Munich Re Foundation and the Micro- More than 15 countries were also repre- and opinions expressed during the insurance Network and supported sented through the regulatory bodies discussions of the various sessions in by Deutsche Gesellschaft für Inter- of the insurance industry. This clearly a neutral manner. As the style of the nationale Zusammenarbeit (GIZ) and signals the increasing commitment of sessions changes, so does the style of the German Federal Department for insurance supervisors to supporting the individual summaries. Readers, Economic Cooperation and Develop- the development of inclusive insurance authors and organisers may not share ment (BMZ), the Department of Finance markets, which may include specific all opinions expressed or recommenda- of the Philippines, and Georgia State microinsurance regulations facilitated tions given – but these reflect the rich University’s Center for the Economic by the International Association of diversity of the discussions. Analysis of Risk. Insurance Supervisors (IAIS) and the A conference of such magnitude Access to Insurance Initiative (a2ii). The Philippines is a unique country needs a lot of people working behind in the world of microinsurance. It A key objective of the International the scenes. The organisation team – has a huge diversity of stakeholders, Microinsurance Conference is the Martina Mayerhofer, Christian Barthelt models and products, operating sharing of experience across continents and Petra Hinteramskogler – again together to achieve scale and sustain- and discussing current practices and did an amazing job to organise a very ability. With approximately 2.9 million lessons learnt. The many plenary special conference. We would also like microinsurance clients so far, further discussions and parallel sessions would to thank the secretariat of the Micro- effort is required to reach an additional not have been possible without the insurance Network – Véronique Faber, 35 million potential clients. The contributions of the speakers and facili- Coralie Zacchino and Matthew Genaz- conference made clear again how tators from around the world. We would zini – for their support in communica- committed the government of the like to thank all of them for their willing- tion and evaluation of the International Philippines is to providing the best ness to share their knowledge. Our Microinsurance Conference. possible support and this commit- thanks go also to the 520 participants The 2010 event was the largest confer- ment was commended throughout the from 50 countries for contributing their ence on microinsurance ever. It has conference. The Philippines is not only comments and questions and making raised the bar substantially for future a front-runner in the industry, it also the discussions lively and thought- events. The conference organisers are acts as a role model for other countries. provoking. On behalf of the organisers, highly motivated to take on this chal- we would like to thank members of The organisers would like to thank lenge and to make the 7th International the conference steering committee. the Department of Finance for its Microinsurance Conference that will Without their work to identify suitable outstanding support for this event. The take place from 8–10 November 2011 speakers and presentations from the conference was honoured by the in Rio de Janeiro an even better event. 130 submissions that were received presence of Cesar V. Purisima, Secre- during the preparations for the confer- tary of Finance of the Philippines, Dirk Reinhard, Vice-Chairman, ence, this event would not have been during the opening session. The Deputy Munich Re Foundation, Germany, possible. Insurance Commissioner, Vida Chiong, Chairman of the Conference Steering paved the way to getting each and A special thank-you goes to the team Committee every important microinsurance player of rapporteurs – Andrea Camargo, Craig Churchill, ILO/Microinsurance in the Philippines on board, and Itoy Marie-Amandine Coydon, Martin Innovation Facility, Switzerland, Chair - Almario, member of the National Credit Herrndorf and Sameen Sahid, led by man of the Microinsurance Network Council, worked tirelessly behind the Zahid Qureshi – for helping us gather scenes to make this event a true success. and document points made and Munich and Geneva, April 2011 1 — Craig Churchill, ILO/Microinsurance Innovation Facility, Switzerland, Chairman of the Microinsurance Network. 2 — Dirk Reinhard, Vice-Chairman, Munich Re Foundation, Chairman of the Conference Steering Committee. 1 2 Report 6th International Microinsurance Conference 2010 2 Agenda Day 1 morning sessions 9 November 2010 Pre-conference seminar 1 Pre-conference seminar 2 Access to insurance – Performance indicators Policy seminar for regulators Hosted by the Microinsurance and supervisors Network Performance Hosted by IAIS, Indicators Working Group Microinsurance Network, Access to Insurance Initiative Vida Chiong Facilitators Deputy Insurance Commissioner, Bert Opdebeeck Insurance Commission, Microinsurance Programme Philippines Coordinator, Belgian Raiffeisen Foundation, Belgium G. Prabakhara Member, Life, IRDA, India Denis Garand President, Denis Garand and Martina Wiedmaier-Pfister Assoc., Canada Consultant to GIZ/BMZ Germany Joselito Almario Deputy Executive Director, National Credit Council/Depart- ment of Finance, Philippines Jacky Huma Head of Department – Insurance Compliance, Financial Services Board, South Africa Regina L. G. Simoes Technical Analyst – Market Information Division, SUSEP, Brazil Renata de Leers Head of Actuarial Department National Insurance Commission, Ghana Sen-Kai Yang Officer- Insurance Bureau, Financial Supervisory Commission, Chinese Taipei Maya Makanjee CEO, FinMark Trust, South Africa Facilitators Craig Thorburn Policy Advisory Consultant, World Bank, USA Doubell Chamberlain Managing Director, Cenfri, South Africa Report 6th International Microinsurance Conference 2010 3 Pre-conference Access to insurance – seminar 1 Policy seminar for regulators and supervisors “On behalf of PNG Insurance As part of the conference, the Access Formalising the informal Regulator’s Office , I see to Insurance Initiative (a2ii) hosted a Implementing a sound supervision a great need for developing seminar for senior insurance sector regime can include the challenge of a microinsurance market policymakers, regulators and super- finding the way from a potentially with the support of renowned visors. It was attended by 55 repre- large number of informal providers organisations, MI service sentatives