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Report International Conference on Inclusive Insurance 2020 Digital Edition Report International Conference on Inclusive Insurance 2020 Digital Edition Edited by Zahid Qureshi and Dirk Reinhard Report International Conference on Inclusive Insurance 2020 — Digital Edition Conference documents and This report is the summary of the Inter- presentations are available online: national Conference on Inclusive Insur- ance — Digital Edition, which took place from 2 to 6 November 2020. Individual summaries, in various styles, were contributed by a team of international www.inclusiveinsurance.org rapporteurs. Readers, authors and organisers might not share all opinions expressed or agree with the recommen- dations given. These, however, reflect the rich diversity of the discussions. Over 70 speakers participated in the conference. Report International Conference on Inclusive Insurance 2020 — Digital Edition 1 Contents 1 Contents 31 Agenda 61 Agenda 2 Foreword Day 3—4 November 2020 Day 5—6 November 2020 3 Acknowledgements How to reach scale and develop Lessons learnt and next steps 4 Participant overview inclusive insurance markets 62 Session 16 5 Agenda 32 Session 8 Technology driving Day 1—2 November 2020 Integrated risk inclusive insurance Inclusive insurance management solutions amidst a pandemic 65 Session 17 36 Session 9 The ups and downs of 6 Session 1 How digitisation can inclusive insurance: Opening of the conference — spur market growth Learning from experience The landscape of inclusive insurance 2020 39 Session 10 68 Session 18 Lessons learnt from Outlook: What will be the next 9 Keynote national strategies milestones in the development of inclusive insurance/closing 11 Session 2 42 Session 11 the insurance gap? Inclusive insurance Leveraging sovereign responses to Covid-19 insurance to build scale 72 Registered organisations 76 Acronyms 14 Session 3 45 Agenda 77 Imprint Pricing insurance in the D ay 4—5 November 2020 midst of a pandemic New products and solutions to increase insurance outreach 17 A genda Day 2—3 November 2020 46 Session 12 Inclusive insurance Insurance from a distance: against climate risks Using remittances to increase protection 18 Session 4 Public private partnerships 49 Session 13 for inclusive insurance Developing insurance against climate risks: markets for MSMEs What works and what does not? 52 Session 14 22 Session 5 Innovative distribution models — The role of mobile in scaling High touch vs. low touch: index insurance Is face to face really necessary? 25 Session 6 56 Session 15 Macro, meso, micro: Analysing the client value of Practical experiences at all levels hospital cash products of parametric insurance 29 Session 7 Quality Index Insurance Certification (QUIIC) Report International Conference on Inclusive Insurance 2020 — Digital Edition 2 Foreword In November 2020, the world was reel- The acceleration of digitisation around ing from the havoc wreaked by the the world has certainly been one silver Covid-19 pandemic. Half the world lacks lining on the pandemic cloud. House- access to healthcare or social protection holds, industry and governments have and global human development would embraced digital solutions at an see a reversal for the first time in a gen- unprecedented rate. The pandemic has eration due to the pandemic’s impact been a grim reminder that we are, on health and incomes, noted Achim indeed, all in this together and that sur- Steiner, Administrator of the United vival depends on innovation, coopera- Nations Development Programme, in tion and partnership. As in previous his opening remarks. editions of the conferences, these were key themes that emerged during the Meanwhile, devastation from extreme week. climate events and natural disasters doggedly continued. Super Typhoon This sense of urgency, awareness of the Goni swept across the Philippines, increasing complexity of risk and the impacting two million people caught in sheer size of the problem that confronts its path. Flooding due to excessive rain us are all driving determination and new­­ affected six million people in east partnerships to find solutions for the Africa, nearly a million of whose homes billions of vulnerable people and small were destroyed just months after a businesses around the world for whom plague of locusts had wiped out crops insurance could and should provide throughout the region, threatening food shelter from the storm. security and livelihoods. In Central America, hurricanes Eta and Iota dam- The inclusive insurance community is aged infrastructure and crops, exa- strong and growing. The digital edition cerbating already strained food security of the 2020 Conference bore testament and taking lives. to the solidarity of more than 2,000 registrations from 126 countries who The findings of the Microinsurance are committed to ensuring that no one Network’s 2020 Landscape of Inclusive is left without the protection and resil- Insurance report, which was launched ience that good insurance can bring. at the opening session of the confer- ence, served as a stark call to action Katharine Pulvermacher, that was echoed throughout the 18 ses- Executive Director, sions that took place over the five days Microinsurance Network a.s.b.l. of the virtual event. Luxembourg, March 2021 Effective and responsible insurance — including both risk transfer and risk management — is critical if we are to achieve the UN Sustainable Develop- ment Goals. Dirk Reinhard, Vice Chair of the Munich Re Foundation, reminded us all that we desperately need in­­ creased cooperation between stake- holders to deliver the sustainable solutions that are urgently required. Value for the customer, which begins by understanding what clients need, is the starting point for designing such solutions. Deploying digitisation and efficient payment systems are both critical for these solutions to add this value to customers while remaining Katharine Pulvermacher economically viable. Executive Director, Microinsurance Network, Luxembourg Report International Conference on Inclusive Insurance 2020 — Digital Edition 3 Acknowledgements The International Conference on Inclu- I would also like to thank all content sive Insurance (ICII) 2020 — Digital partners and supporting organisations Edition was the first fully online confer- of the ICII 2020 — A2ii, CEAR, Cenfri, ence in the history of the ICII. The EA Consultants, GIZ on behalf of BMZ, Covid-19 pandemic had made all plans GSMA, ILO’s Impact Insurance Facility, to host in-person events obsolete. At the IAA’s Microinsurance Working the same time, the pandemic has had Group, UNDP, MCII, the Microinsurance a strong negative impact on the eco- Centre at Milliman, and the World ­­Bank nomic situation of the poor, and has Group. highlight ed the urgent need for more affordable risk management solutions. Furthermore, I would like to make It was therefore clear for all parties special mention of the team of rappor- involved that cancelling the Internatio - teurs and authors — José Miguel Flores nal Conference on Inclusive Insurance Contró, Hugo Fulco, Ulf König, Maria during the pandemic was not an option V. Sáenz and Kira Henshaw — led by because affordable risk management Zahid Qureshi — who volunteered and solutions have never been more impor- summarised the key messages and tant. lessons from the various sessions of the 2020 conference. In addition, I would We would like to thank all those who like to extend my thanks to the Munich helped to make this conference with its Re Foundation conference team — over 2,000 registrations from 126 coun- Thomas Loster, Julia Martinez, Nora tries a genuine success. Switching from Fingado and Melissa Merle as well as in-person to online mode with such a the new Chair of the Munich Re Foun- diverse event was certainly an adven- dation, Renate Bleich. ture. But it was worth the effort since it allowed an unprecedented number and At the same time, I would like to diversity of participants to access first- welcome the participants to the Inter- hand experience in inclusive insurance. national Conference on Inclusive Insurance 2021 which hopefully can The great success of the conference take place in Jamaica. Together with the would not have been possible without Insurance Association of Jamaica, we the hard work of the conference steer- are looking forward to the next event, ing committee and I would like to thank set to take place from 26 to 28 October all members of the steering committee in Kingston. for their guidance. I would also like to express my sincere gratitude to the Dirk Reinhard, Vice Chairman 77 speakers and facilitators who volun- Munich Re Foundation, Germany, teered to present their knowledge and Chairman of the Conference lead the sessions. Steering Committee A special thank-you goes to Doubell Munich, January 2021 Chamberlain, former Chairman of the Board of the Microinsurance Network, and its new chairman Lorenzo Chan, CEO of Pioneer Insurance, for the long- term cooperation and support of the Microinsurance Network. We would ­­like to thank the Executive Director of the Microinsurance Network Katharine Pulvermacher and her team. They have worked long hours to technically host the event and were the core and heart of this first digital ICII. Dirk Reinhard Vice Chairman, Munich Re Foundation, Germany Report International Conference on Inclusive Insurance 2020 — Digital Edition 4 Participant overview Type of participant by category Insurance and finance industry 59.0 % Donor agencies, development and international organisations 9.9 % Microfinance and microinsurance providers 5.5 % Government and regulatory bodies 5.2
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