Microinsurance Work for Small Farmers
|
|
- Madeline Aileen Andrews
- 6 years ago
- Views:
Transcription
1 Microinsurance Work for Small Farmers For Workshop on Climate Resilience on Agriculture July 10, 2012 Yoko Doi, Financial Specialist Financial and Private Sector Development Unit World Bank Jakarta Office 1
2 Table of Content 1. The concept of microinsurance Ø how micro- insurance could reduce risks of small- farmers; Ø what is current status of micro- insurance development in Indonesia and in the world Ø what are factors to be considered and developed for the success of micro- insurance development in Indonesia 2. What the World Bank has done in Indonesia (especially on microinsurance) & How the World Bank can assist 3. Q&A 2
3 The Concept of Microinsurance 3
4 What is Microinsurance? not a specific product or product line. It is also not limited to a specific provider type. Microinsurance is the provision of cover to a specific market segment, i.e. low- income persons. ~ IAIS (International Association of Insurance Supervisors) Issues Paper (2007) Products includes :Health, Life (i.e. Savings, Credit Life, Funeral), General Insurance (i.e. Agricultural Index, Livestock,) Key Characteristics of Microinsurance Distribution channel & claim settlement accessible: physically and financially Simple, easy to understand policy document Broadly inclusive, with few if any exclusions Premiums accommodate irregular cash flows Small sums insured, often for short terms Pre- underwritten, community or group pricing 4
5 Who is insured by whom? Formal insurance industry Informal insurance WEALTH Insurable, without access Uninsurable through market mechanisms POPULATION 5
6 NET PREMIUM 5% 70% Yoko Doi The Microinsurance Bottom Line $50 PROFIT NET CLAIMS $2.5 $35 MI features: Premium from as low as $2 per annum Benefits tailored to low premium, with innovative product combinations Providing benefits in life Generally short- term, group policies Life funeral cover popular in Africa & Latin America $5 PROFIT $ % EXPENSES $7.5 NET CLAIMS $2.75 Minimize Regulatory & Other Costs 10% COMMISSION $5 EXPENSES COMMISSION $1 $1 Traditional Insurance Microinsurance Source: CENFRI
7 Delivery Channels.. Compulsory (MFIs/NGO MFIs) Democratic Group Endorsement (Coops, Mutuals, Labor Unions, Churches, Clubs ) Community based self insurance Prepayment of Services Database Selling Utilities, Telcos. Retail Chains/ Stores Standalone (Brokers/ Agents) Credit life: India, Philippines, South Africa, Colombia Brazil - PASI Community organizations- India.. Burial Societies Indonesia faith based community on funeral insurance, Credit unions (solidarity movement) Funeral Parlors : Brazil, Colombia HMO: Zambia, Uganda Brazil, Colombia Brazil, South Africa, Colombia and India (Fertilizers) India, Philippines, South Africa, Colombia
8 Insurance has a potential role in reducing vulnerability for small farmers Risk Management Strategies In the severe Weather Events Rely on assistance (inadequate, ad- hoc, poorly targeted, slow in disbursing) Take high interest loan Defaulting existing loan Selling assets & livestock or Only engage in low risk, low yield farming (limiting risk exposure) or Market- based risk financing mechanism (Insurance) Provide rapid access to post- disaster liquidity protecting livelihood providing for reconstruction recovery *** Less than 1% of people who live on less than $2 a day have access to formal insurance Locked into poverty cycle 8
9 Current Status of Microinsurance in Indonesia 9
10 Snapshot of Insurance Condition in Indonesia <Perceptions, Availability, Awareness> Low insurance penetration in Indonesia Mostly owned by the high income population Lack of affordable product and low awareness as well as understanding on insurance product are the main reasons other than low income Some uninsured people do willing to buy insurance if such product is available and can suit to their needs 10
11 Current features of Microinsurance Markets in Indonesia (1) 1. Low uptake of insurance less than 10% or an estimated million Indonesian have life insurance coverage, at the end of in terms of micro insurance à less than 0.5 million lives insured less than 1% of total homeowners are insured and insurance of other assets including livestock, agriculture are even low. Less than US$0.5 billion insured losses out of an estimated US$4.45 billion loss from Tsunami (agriculture & livestock $141 mn, SMEs $280 mn...) Less than $400 mn insured losses out of an estimated US$1.7 billion in loss (Jakarta Floods in 2007).
12 Current Features of Microinsurance Markets in Indonesia (2) 2. Large proportion of population falls into low- income categories i.e., population living on less than $2 a day about 60% of Indonesian population (Source: 2009 UN Human Development Report) 3. High levels of informality informal sector accounts for a sizeable amount >40% of Indonesian work force is employed in the Agriculture Sector, which is predominantly informal sector; >53% of working population is employed in the informal sector 4. Large reliance on compulsory credit life insurance 5. Microinsurance definition vary but share low- risk features
13 Factors affecting development of Microinsurance in Indonesia(1) 1. Demand and Supply- side factors DEMAND SIDE ISSUES Lack of AWARENESS (i.e., education) and Perceived cost vs. Perceived value or current consumption vs. future benefits Lack of TRUST (i.e., poor experience of dealing with insurance companies in the past) AFFORDABILITY (mismatch between ability- to- pay and price of insurance product) Off- the- shelf product(s) do not meet the NEED (lack of customization of product to address the needs of the Poor) SUPPLY SIDE ISSUES A need to demystify insurance products & services including policy terms and conditions. Simplified CLAIMS SETTLEMENT PROCESS including documentation for claims processing. High TRANSCATION COSTS (i.e., need for lowering the cost of distribution and claims processing/settlement). Lack of investment in PRODUCT DEVELOPMENT i.e.,
14 Factors affecting development of Microinsurance in Indonesia(2) 2. Regulation and supervision a) Weak insurance definitions result in regulatory avoidance and arbitrage b) High regulatory barriers: limiting the entry of non- traditional actors/players c) Unlevel playing field: introduces bias against provision by potentially legitimate players. Adopting a risk- based supervision approach would be fair game. d) Strict demarcation increases (mono- line vs. composite insurance) the cost of offering a product that combines life, non- life and health 3. Macro economic conditions
15 Examples in other countries 15
16 Some examples from other countries Index or Parametric insurance products e.g., rainfall- index, mortality index, combined indemnity & parametric insurance Pre- Paid or Scratch card (similar to prepaid mobile telephone cards) for paying premiums Low- cost claims servicing model using community- managed call center and web- based claims management process
17 Weather Index Insurance: Malawi Example: Basic Concept: If rainfall levels are below or above pre- specified amounts, farmers loans repaid by insurance company directly to bank. 17
18 Prepaid Card for Premium Payments: Case in Kenya 1 st à Buy a policy from insurance outlet à Issues a Policy Number Buy the card from neighborhood or convenient stores Premiums of any denomination, and Any frequency (depending on cash- flow) Call the insurance call center Provide (or enter) your Policy Number Enter the Number on the Pre- paid card BENEFITS: Lower transaction cost Easy to use and pay premium whenever and from wherever you are Premiums could be paid in any denomination
19 Case in Kenya (1) Yoko Doi
20 Case in Kenya (1) Yoko Doi. 2012
21 Index based livestock insurance IBLI Sales in % of eligible herders are insured 800,000 animals insured $140,000 of premium in Affordable and effective insurance Provide affordable and effective livestock insurance to all herders on a voluntary basis Flexible institutional structure Simple and stable structure for implementation in the short run that allows for flexibility in the future Ring fence the livestock insurance business Insulate the domestic insurance industry from catastrophic livestock losses Foundation consistent with the new regulatory environment Limit government financial exposure 21
22 Life & Property Insurance : Case in India Claim Settlement Process ZS Call Centre Desk verification of claim Inform relevant Area committee Transfer solatium to relevant SB A/c Claim event Village ATM Area Committee visits ATM, draws solatium Area Committee visits the village verifies the claim, completes the claim documentation and makes payment of the solatium Rural Poverty Reduction Project, Andhra Pradesh, INDIA
23 World Bank engagement : Financial Inclusion & Microinsurance 23
24 Financial Inclusion Engagement in Indonesia Stages of Engagement Diagnostic Stage Individual Projects (TA to GoI etc.) Macro / National Strategy Pilot Project (Research on Fin. Literacy Assessment on MWs) Fin Literacy ToT for GoI NSFI development Projects / Engagement Two Diagnostics Studies (Nation Wide & Migrant Workers HHs) Assessment on KUR (GoI Credit Guarantee Program) PPP Fin Services for MWs Microinsurance Marketplace Microinsurance Regulatory Framework Review on MW Microinsurance Reform on GoI funded PNPM Mandiri RLFs Scheme Evaluation of TabunganKu (Basic bank account) Branchless Banking regulatory review 24
25 Who we works with Yoko Doi Government of Indonesia Private Sector Civil Society Vice President Office Central Bank (Bank Indonesia) Coordinating Min. of Economic Affairs Bappenas Min. of Finance, Bapepam - LK Min. of Home Affairs Coordinating Min. of People s Welfares Min. of Public Works Min. of Cooperatives & SMEs BNP2TKI Min. of Manpower & Transmigration Local Government Commercial Banks BPRs (Rural Banks) Associations of Insurance Companies Credit Guarantee Companies PPTKIS (Migrant Workers Recruitment Companies) Research Institutes Local community based organizations 25
26 Comprehensive Approach to Financial Inclusion offers greater impact SME Finance Financial Infrastructure Mobile payments Ag Finance Micro finance INTEGRATED FINANCIAL INCLUSION: -Govt to Person Payments, CCTs -Use of existing institutions e.g. Post Offices, Savings Banks -Use of technology -Banks, NBFIs, Investors, Supply Chain all play role -CPFL Responsible Finance -Based on sound Financial Market Infrastructure -meets client needs PREVIOUSLY: Limited Financial Inclusion, focus on specific themes rather than an integrated and strategic framework, microfinance vulnerable to crises NOW: Comprehensive approach, Universal Financial Inclusion as a goal, sustainable and responsible growth, focus on Impact and Policy Frameworks 26
27 27 Yoko Doi Promoting Microinsurance Partners: BNP2TKI, Bapepam- LK, Min. of Manpower & Transmigration Review of Mandatory TKI Insurance Background Support on Micro- insurance Development Background Supporting Government Initiatives Despite of its mandatory features critical problems still exist : its effectiveness to provide protection for MWs has been increasingly questionable. What the we are doing Conduct a review on the existing MWs insurance product and mechanism Gather information on type of data collected by any institution related to MWs The insurance industry in Indonesia is relatively small compared to the overall financial sector Bapepam- LK s master plan for includes the development of micro insurance in Indonesia: a) expansion of the overall insurance market, particularly given the low levels of penetration; and b) as a tool for social protection/safety net What we are doing Support microinsurance marketplace Ø More details in the following page T.A. for Insurance Bureau of BapepamLK: Ø to develop regulation for microinsurance to support enabling environment in Indonesia
28 28 Yoko Doi Promoting Micro- insurance Partners: Bapepam- LK, the Indonesia Insurance Council, Institute of Risk Management and Insurance (STIMRA), IFC, Global Index Insurance Facility (GIIF) Microinsurance Marketplace Event (October 2011) WB w/ Private Sector + GoI What we are doing Two days event consisting of plenary session and exhibition of existing micro insurance product Plenary session was used to share international and local best practices Exhibition was used to promote micro insurance product and services Around 370 people participated in the event coming from both insurance and non- insurance sector Call for proposal on innovative ideas in microinsurance product s/services
29 What should be done in Indonesia & how the World Bank can assist 29
30 Proposed actions to be undertaken in Indonesia 1. Develop a regulatory framework for microinsurance in Indonesia 2. Government to identify risks attached to the farmers and their farms especially related to microinsurance coverage 3. PPP to develop/create/modify microinsurance products/services for farmers: Provide microinsurance coverage for crop failure Provide microinsurance coverage growing trees Provide weather index/parametric- based insurance coverage Provide microinsurance coverage base on combined indemnity & parametric principle 4. Enhance the role of communities as alternative point for channel of distribution 30
31 The World Bank possible area of supporting microinsurance development 1. Provide relevant global experiences/best practices for establishing enabling regulatory framework for the Industry to participate and to protect insurance policy holders 2. Facilitate and to bring global practices/experiences of microinsurance products/services for underserved populations (i.e. farmers, lower income households) 3. Facilitate the possible Public and Private Partnership (PPP) on developing microinsurance schemes for underserved populations 4. Support in addressing development challenges on microinsurance for farmers in Indonesia 5. Support government to promote awareness and improve financial literacy on microinsurance 31
32 THANK YOU 32
Enabling policies for microinsurance market development in Africa
Enabling policies for microinsurance market development in Africa Presentation to Access to Insurance Policy Seminar for Regulators and Supervisors Hennie Bester Dakar, Senegal 3 November 2009 Life for
More informationEnabling policies for microinsurance market development in Africa
Enabling policies for microinsurance market development in Africa Presentation to Access to Insurance Policy Seminar for Regulators and Supervisors Hennie Bester Dakar, Senegal 3 November 2009 Life for
More informationNational Strategy for Financial Inclusion: Fostering Economic Growth and Accelerating Poverty Reduction
National Strategy for Financial Inclusion: Fostering Economic Growth and Accelerating Poverty Reduction Bambang Widianto Deputy for Social Welfare and Poverty Alleviation/ Executive Secretary of The National
More informationFinancial Inclusion: Using Financial Education to Reach Out to Undeserved Groups and the Informal Sector
Financial Inclusion: Using Financial Education to Reach Out to Undeserved Groups and the Informal Sector Conference on Financial Literacy: Financial education For All Cape Town, South Africa 27-28 October
More informationMicroinsurance Future in Jamaica-The FSC s Perspective November 4, 2013
Microinsurance Future in Jamaica-The FSC s Perspective November 4, 2013 OUTLINE Mandate of the Financial Services Commission (FSC) Rationale for Microinsurance in Jamaica Development of Microinsurance
More informationWhat is microinsurance and why does it matter?
Policy, regulation and supervision FOCUS NOTE 1 What is microinsurance and why does it matter? The rationale for microinsurance from a regulator s perspective March 2009 By Doubell Chamberlain, Christine
More informationFinancial Inclusion and MSME Programs in Indonesia
2013/SMEWG37/018 Agenda Item: 11.2.1 Financial Inclusion and MSME Programs in Indonesia Purpose: Information Submitted by: Indonesia 37 th Small and Medium Enterprises Working Group Meeting Bali, Indonesia
More informationFatou Assah. The World Bank. April 2012
Fatou Assah Senior Financial Sector specialist The World Bank April 2012 1 Contents 2 Disaster Risk Management Framework Disaster Risk Financing & Insurance Program Mainstream disaster risk financing and
More informationWorkshop on Enhancing Access to Formal Financial Services in Indonesia Shangri-la Hotel in Jakarta 9-10 December 2009 AGENDA (DRAFT)
Workshop on Enhancing Access to Formal Financial Services in Indonesia Shangri-la Hotel in Jakarta 9-10 December 2009 Day 1-9 December, 2009 AGENDA (DRAFT) Ver. 5 December 2009 8:15 Registration 9:00 Welcoming
More informationEnhance Financial Resilience Against Disasters
2016/FMM/010 Session 3 Enhance Financial Resilience Against Disasters Purpose: Information Submitted by: World Bank Group 23 rd Finance Ministers Meeting Lima, Peru 14-15 October 2016 APEC Meeting, Lima,
More informationAccess to Formal Financial Services in Indonesia
Access to Formal Financial Services in Indonesia - Evidence from the World Bank s Nation-Wide Household Survey & tmigrant Worker Household in East Java and Nusa Tenggara Survey - Yoko Doi, Financial Specialist
More informationPolicy and regulatory challenges of microinsurance market development in Africa
Ad-Hoc Expert Meeting on CAPACITY-BUILDING FOR THE INSURANCE SECTOR IN AFRCA 23 February 2009 Policy and regulatory challenges of microinsurance market development in Africa by Ms. Martina WIEDMAIER-PFISTER
More informationMicroinsurance Technical Advisory Group. MICROINSURANCE LANDSCAPE - ZAMBIA MICROINSURANCE FOCUS NOTE No. 9 JUNE Funded by
Microinsurance Technical Advisory Group FOCUS NOTE No. 9 JUNE 2018 Funded by ABOUT THIS FOCUS NOTE Since 2009, the Technical Advisory Group for Microinsurance (TAG) has been spearheading the development
More informationASEAN Disaster Risk Financing and Insurance Forum A Joint Initiative of ASEAN, World Bank, GFDRR and UNISDR November 2011, Jakarta, Indonesia
ASEAN Disaster Risk Financing and Insurance Forum A Joint Initiative of ASEAN, World Bank, GFDRR and UNISDR 8-10 November 2011, Jakarta, Indonesia Synthesis of Day 2 (9 November 2011) SESSION 3: PANEL
More informationBajaj Allianz Micro Insurance Initiative - India Case Study
Bajaj Allianz Micro Insurance Initiative - India Case Study 9th International Micro Insurance Conference 2013 14 th November 2013, Jakarta Presented by - Yogesh Gupta Senior Vice President & Head Business
More informationFrancesco Rispoli, IFAD, Italy
Scaling up insurance as a disaster resilience strategy for smallholder farmers in Latin America 11 th Consultative Forum on microinsurance regulation for insurance supervisory authorities, insurance practitioners
More informationThe South African Microinsurance context
The South African Microinsurance context Microinsurance seminar for policy makers and regulators, Cape Town 20 Sep 2010 Making financial markets work for the poor About FinMark Trust and Cenfri FinMark
More informationINDONESIA RISING. Policy Priorities for 2010 and Beyond
INDONESIA RISING. Policy Priorities for 2010 and Beyond Towards a Stable, Efficient, and Accessible Financial Sector Key Messages 1. The government s focus on maintaining and strengthening the stability
More informationMainstreaming Micro-Insurance Schemes: Role of Insurance Companies in Nepal
Economic Literature, Vol. XI (4046), June 203 Mainstreaming MicroInsurance Schemes: Role of Insurance Companies in Nepal Puspa Raj Sharma, Ph. D * ABSTRACT Microinsurance refers to the relatively short
More informationMicro Finance in the World and in India: Status, Problems and Prospects
Micro Finance in the World and in India: Status, Problems and Prospects By Vijay Mahajan Chair, CGAP ExCom Founder and CEO, BASIX Social Enterprise Group, India President, MFIN (MFI Network of India) March
More informationInnovation for Financial Inclusion: Indonesia s Perspective
2013/FMP/WKSP1/002 Session 1 Innovation for Financial Inclusion: Indonesia s Perspective Submitted by: Indonesia Workshop on Promoting Financial Access Through Innovative Delivery Channel to Enhance Financial
More informationPolicy Seminar: A global view on policy approaches to enhance access to insurance
Policy Seminar: A global view on policy approaches to enhance access to insurance Rio, 8th November 2011 Martina Wiedmaier-Pfister on behalf of German Federal Ministry for Economic Development and Cooperation
More informationSummary. Microinsurance Conference November 2007, Mumbai, India
Summary 13 15 November 2007, Parallel Session 11 Regulation, supervision and policy Challenges for regulators and supervisors Mr. Arup Chatterjee, IAIS, Switzerland Ms. Martina Wiedmaier-Pfister, GTZ,
More informationFinancing Agriculture Forum 2013: Profitable Agricultural Banking Colombo, Sri Lanka. Florence Kariuki August 2013
Financing Agriculture Forum 2013: Profitable Agricultural Banking Colombo, Sri Lanka Florence Kariuki August 2013 Introduction Equity Bank was founded as Equity Building Society (EBS) in October 1984 and
More informationMicroinsurance Country Diagnostic & Stakeholder Dialogue in Nigeria Stakeholder meeting Abuja, Nigeria 24 October 2012
Microinsurance Country Diagnostic & Stakeholder Dialogue in Nigeria Stakeholder meeting Abuja, Nigeria 24 October 2012 Denise Dias, Denis Garand, Yemi Soladoye Consultants The Country Diagnostic Report
More informationDISASTER RISK INSURANCE FOR SMES AND AGRICULTURE
DISASTER RISK INSURANCE FOR SMES AND AGRICULTURE Vijayasekar Kalavakonda Senior Financial Sector Specialist Finance & Markets Global Practice The World Bank Group Asia-Pacific is the world s most disaster
More informationWorld Bank Agricultural Insurance Framework: Market-Based Solutions for Better Risk-Sharing
1 Seminar on Government Support to Agricultural Insurance World Bank Agricultural Insurance Framework: Market-Based Solutions for Better Risk-Sharing Olivier Mahul Program Coordinator Insurance for the
More informationDeveloping a financial inclusion
Developing a financial inclusion strategy: The case of Indonesia Muliaman D. Hadad Deputy Governor The 2010 AFI Global Policy Forum, Bali, 27-29 September 2010 1 Indonesia Some key facts: Population of
More informationSession 6: Financial inclusion. Presentation. Financial Service Deepening. Pungky Wibowo
MINISTRY OF FINANCE REPUBLIC OF INDONESIA Asia-Pacific Outreach Meeting on Sustainable Development Financing 10-11 June 2014 Djuanda Hall, Ministry of Finance Complex, Jakarta Session 6: Financial inclusion
More informationFinancial Inclusion in Post Development
Financial Inclusion in Post- 2015 Development Financial inclusion is a critical enabler and accelerator of equitable economic growth, job creation, social and human development. It is a cross- cutting
More informationAndrew Goodland RISK MANAGEMENT: THE CASE OF THE LIVESTOCK SECTOR IN MONGOLIA
Andrew Goodland RISK MANAGEMENT: THE CASE OF THE LIVESTOCK SECTOR IN MONGOLIA Outline 1. Brief context nature of risk in Mongolia 2. Conceptual framework for understanding and addressing risk in the agricultural
More informationMicroinsurance Context and Opportunities
Microinsurance Context and Opportunities Microinsurance Stakeholders Workshop Lusaka, June 2008 Yoseph Aseffa International Labour Organization Overview of Presentation 1. Explain the ILO s interest in
More informationCatastrophe Risk Financing Instruments. Abhas K. Jha Regional Coordinator, Disaster Risk Management East Asia and the Pacific
Catastrophe Risk Financing Instruments Abhas K. Jha Regional Coordinator, Disaster Risk Management East Asia and the Pacific Structure of Presentation Impact of Disasters in developing Countries The Need
More informationAgricultural Insurance for Developing Countries The Role of Governments
FARM - Pluriagri conference on Insuring Agricultural Production Paris, France December 18, 2012 Agricultural Insurance for Developing Countries The Role of Governments Olivier Mahul Program Coordinator,
More informationPROMOTING ACCESS TO AGRICULTURAL INSURANCE IN DEVELOPING COUNTRIES 1
PROMOTING ACCESS TO AGRICULTURAL INSURANCE IN DEVELOPING COUNTRIES 1 AGRICULTURAL INSURANCE DEVELOPMENT PROGRAM (AIDP) STRATEGY PAPER - 2013-2015 APRIL 15, 2013 INTRODUCTION 1. Many pilot agricultural
More informationDEAL WITH EXTREME WEATHER EVENTS
ENABLING FARMERS TO DEAL WITH EXTREME WEATHER EVENTS By: Gezahegn Kebede Gebrehana August 26 th, 2016 Nairobi, Kenya 8/26/2016 1 BACKGRUND The risks that farmers face are several, among which ones related
More informationAndrew Goodland INDEX BASED INSURANCE AND DISASTER RISK MANAGEMENT IN MONGOLIA
Andrew Goodland INDEX BASED INSURANCE AND DISASTER RISK MANAGEMENT IN MONGOLIA Brief context of Mongolia livestock sector Mongolia is a country of 2.5 m people and 33 million livestock Mongolia is one
More informationAgricultural Insurance and Regulatory Implications
Report of the 4th A2ii IAIS Consultation Call Agricultural Insurance and Regulatory Implications 26 June 2014 Governments are increasingly recognizing the relevance of insurance for farmers and rural dwellers
More informationIndex-based Livestock Insurance Project, Mongolia
Index-based Livestock Insurance Project, Mongolia Dr. Jerry Skees President, GlobalAgRisk, Inc. The H.B. Price Professor of Policy and Risk University of Kentucky Slides Prepared in Collaboration with
More informationDISASTER RISK FINANCING ADB Operational Innovations in South Asia
DISASTER RISK FINANCING ADB Operational Innovations in South Asia Erik Kjaergaard, Disaster Risk Management Specialist South Asia Department with input from Mayumi Ozaki, Senior Portfolio Management Specialist
More informationMicroinsurance policy imperatives country evidence. Presentation at FSI/IAIS/MIN meeting on microinsurance
Microinsurance policy imperatives country evidence Presentation at FSI/IAIS/MIN meeting on microinsurance Hennie Bester Basel, 7 July 2010 Outline 1. Product analysis 2. Intermediation 3. Health insurance
More informationDeveloping Catastrophe and Weather Risk Markets in Southeast Europe: From Concept to Reality
Developing Catastrophe and Weather Risk Markets in Southeast Europe: From Concept to Reality First Regional Europa Re Insurance Conference October 2011 Aleksandra Nakeva Ruzin, MPPM Executive Director
More informationPeter Graves Senior Vice President, Technical Services World Council of Credit Unions
Expanding Access to Finance to the Bottom Billion Critical Factors Presentation to UN Preparatory Process/3 rd International Conference on Financing for Development 14 November 2014 Peter Graves Senior
More informationWorld Bank Support for Pensions
World Bank Support for Pensions Mark Dorfman, World Bank Social Protection Conference Abidjan, June 2015 1 2 World Bank Twin Goals Ending extreme poverty by 2030 < 3% of global pop. below $1.25 a day Boosting
More informationAn Operational Framework for Disaster Risk Financing and Insurance
Financial Protection Against Natural Disasters An Operational Framework for Disaster Risk Financing and Insurance This part seeks to tie together the experience and collected knowledge from partners in
More informationMFIs and agricultural credit and insurance: does it have to be an unhappy marriage? Moderator: Philippe Guichandut - GCAMF Speakers:
MFIs and agricultural credit and insurance: does it have to be an unhappy marriage? Moderator: Philippe Guichandut - GCAMF Speakers: Issouf Sore RCPB Paul Castle Fondation Syngenta The Micro Insurance
More informationThe goals to Access / Financial Inclusion 2020 Briefing for World Bank Group President Dr. Jim Yong Kim Terence Gallagher Senior Specialist in Micro
The goals to Access / Financial Inclusion 2020 Briefing for World Bank Group President Dr. Jim Yong Kim Terence Gallagher Senior Specialist in Micro and Small Enterprise Finance Financial Institutions
More informationLoss and Damage Associated with Climate Change Impacts The (possible) role of Disaster Risk Financing and Insurance
UNFCC regional expert meeting on loss and damage August 27 29, 2012 Bangkok, Thailand Loss and Damage Associated with Climate Change Impacts The (possible) role of Disaster Risk Financing and Insurance
More informationIn this article, we share some of our key takeaways from the conference and side events.
Post-conference article What did we learn from the 13 th IMC? The 13 th International Microinsurance Conference, which took place on 7-9 November 2017 in Lima, Peru, brought together over 450 participants
More informationDisaster Management The
Disaster Management The UKRAINIAN Agricultural AGRICULTURAL Dimension WEATHER Global Facility for RISK Disaster MANAGEMENT Recovery and Reduction Seminar Series February 20, 2007 WORLD BANK COMMODITY RISK
More informationFinScope Consumer Survey Malawi 2014
FinScope Consumer Survey Malawi 0 Introduction Malawi Government The Government of Malawi has increasingly recognised that access to financial services can play an important role in poverty alleviation
More informationMaking a market for microinsurance: the success and failure of different channels of delivery
Policy, regulation and supervision FOCUS NOTE 12 Making a market for microinsurance: the success and failure of different channels of delivery By Doubell Chamberlain, Hennie Bester, Christine Hougaard
More informationClimate Insurance Fund (CIF) Luxembourg, June 2017
Climate Insurance Fund (CIF) Luxembourg, June 2017 KfW Development Bank s Role in Insurance Our Mandate As the German development bank, our objectives is help our partners to fight poverty, maintain peace,
More informationINSURANCE For development, resilience and recovery
INSURANCE For development, resilience and recovery Stewart McCulloch VisionFund November 2016 our value proposition for children and families Progress out of Poverty Index + World Vision: Focus on graduation
More informationTRAINING CATALOGUE ON IMPACT INSURANCE Building practitioner skills in providing valuable and viable insurance products
TRAINING CATALOGUE ON IMPACT INSURANCE Building practitioner skills in providing valuable and viable insurance products 2017 Contents of the training catalogue The ILO s Impact Insurance Facility... 3
More informationPNPM SUPPORT FACILITY (PSF) Project Proposal
PNPM SUPPORT FACILITY (PSF) Project Proposal Project Title: Objective: Executing Agency: Estimated Duration: Estimated Budget: Geographic Coverage: Implementation Arrangements: PNPM Mandiri Revolving Loan
More informationInternational Microinsurance trends and regulation
International Microinsurance trends and regulation Presentation to industry stakeholders, Maputo 17 Sep 2010 Doubell Chamberlain & Sandisiwe Ncube Making financial markets work for the poor About FinMark
More informationproducts that meet client needs Designing microinsurance Expanding Access to Insurance for the Poor Kampala, Uganda March 2009
Designing microinsurance products that meet client needs Expanding Access to Insurance for the Poor Kampala, Uganda March 2009 Craig Churchill International Labour Organization Overview of Presentation
More informationIndex Insurance: Financial Innovations for Agricultural Risk Management and Development
Index Insurance: Financial Innovations for Agricultural Risk Management and Development Sommarat Chantarat Arndt-Corden Department of Economics Australian National University PSEKP Seminar Series, Gadjah
More informationBeyond sales: Extracts from Brazil and Colombia
Beyond sales: Extracts from Brazil and Colombia Herman Smit Johannesburg, 31 March 2011 Basis for discussion A global survey of passive microinsurance distribution channels. Cenfri (2009). Case studies
More informationCofinancing (US$M): c. Policy Areas: The policy areas included into the Program Document of the FIRM DPL were the following:
Public Disclosure Authorized IEG ICR Review Independent Evaluation Group 1. Project Data: Date Posted: 03/25/2015 Report Number: ICRR14675 Public Disclosure Authorized Public Disclosure Authorized Public
More informationAn Overview of Insurance Services in Nepal
An Overview of Insurance Services in Nepal Prof. Dr. Puspa Raj Sharma The present scenario of micro (finance and insurance) seems a lot of uncertainty. Naturally uncertainty gives birth to risk. Therefore,
More informationInclusive Insurance Focus Note Series
Inclusive Insurance Focus Note Series Microinsurance Landscape 2015 Contents 03 About 04 Key Highlights 05 Introduction 08 Microinsurance Coverage 10 Distribution 11 Business Case 14 Client Value 15 Industry
More informationEx Ante Financing for Disaster Risk Management and Adaptation
Ex Ante Financing for Disaster Risk Management and Adaptation A Public Policy Perspective Dr. Jerry Skees H.B. Price Professor, University of Kentucky, and President, GlobalAgRisk, Inc. Piura, Peru November
More informationINSURING THE POOR AGAINST NATURAL DISASTERS INNOVATIVE SOLUTIONS
INSURING THE POOR AGAINST NATURAL DISASTERS INNOVATIVE SOLUTIONS SESSION 1: MICROINSURANCE PRODUCT INNOVATION Microinsurance Marketplace in Indonesia Conference Shangri-La Hotel, JAKARTA Vijayasekar Kalavakonda
More informationGC Micro Risk Solutions SM Catastrophe Risk and the Importance of Microreinsurance
April 17, 2011 GC Micro Risk Solutions SM Catastrophe Risk and the Importance of Microreinsurance Reed Bouchelle, Vice President, Asia Pacific www.guycarp.com Catastrophe Risk and the Importance of Microreinsurance
More informationSESSION 6: FINANCIAL INCLUSION, TRADE AGREEMENTS AND REGULATORY REFORM
UNITED NATIONS CONFERENCE ON TRADE AND DEVELOPMENTENT Expert Meeting on THE IMPACT OF ACCESS TO FINANCIAL SERVICES, INCLUDING BY HIGHLIGHTING THE IMPACT ON REMITTANCES ON DEVELOPMENT: ECONOMIC EMPOWERMENT
More informationRegulatory Impact Assessment (RIA) on Microinsurance Nepal. -- Stakeholders Dialogue -- Findings, Conclusions and Strategic Recommendations
Regulatory Impact Assessment (RIA) on Microinsurance Nepal -- Stakeholders Dialogue -- Findings, Conclusions and Strategic Recommendations 6 September 2017 / Kathmandu, Nepal Dante Portula / Raquel Capio
More informationNote 1. Emerging cross-country insights. Microinsurance business models, corresponding risks and regulatory responses
Note 1 Emerging cross-country insights Microinsurance business models, corresponding risks and regulatory responses Stefanie Zinsmeyer, 12 November 2013 First onsultative Forum on business models, distribution
More informationSustainable Livelihoods
Sustainable Livelihoods After Disaster Case: Post Earthquake 27 May 2006 in Yogyakarta and Central Java Dr. Suprayoga Hadi (suprayoga@bappenas.go.id) Director for Special Area and Disadvantaged Region,
More informationTrends and Standards in Microinsurance Regulation. Financial Services Board, 21 November 2012 Market Realities and Regulatory Implications
Trends and Standards in Microinsurance Regulation Financial Services Board, 21 November 2012 Market Realities and Regulatory Implications Session 1: Agenda Trends and Standards in Microinsurance Regulation
More informationEMERGING CONSUMERS 2018 HALF YEAR REPORT
EMERGING CONSUMERS 2018 HALF YEAR REPORT Allianz SE Public Copyright Allianz 2018 CONTENT Business Background News 01 WHAT IS EMERGING CONSUMERS BUSINESS FOR ALLIANZ 04 HALF-YEAR RESULTS 2018 02 HOW WE
More informationKey Messages. Dealing with Natural Disaster Risks Institutions & Products
Workshop on Insurance and Risk Assessment Key Messages Dealing with Natural Disaster Risks Institutions & Products Vijay Kalavakonda Insurance Specialist email: vkalavak@worldbank.org World Bank Insurance
More informationIndex-based Livestock Insurance Project, Mongolia
Index-based Livestock Insurance Project, Mongolia Dr. Jerry Skees President, GlobalAgRisk, Inc. The H.B. Price Professor of Policy and Risk University of Kentucky Slides Prepared in Collaboration with
More informationENSO Impact regions 10/21/12. ENSO Prediction and Policy. Index Insurance for Drought in Africa. Making the world a better place with science
ENSO Prediction and Policy Making the world a better place with science Index Insurance for Drought in Africa Science in service of humanity Dan Osgoode & Eric Holthaus International Research Institute
More informationFinancing initiatives for reducing vulnerability and increasing resilience to impact of climate change. IMACC GIZ PAKLIM
Financing initiatives for reducing vulnerability and increasing resilience to impact of climate change. IMACC 29.07.2013 Adaptation Finance for : Central Government Local Government Private Sector Households
More informationOJK INTERNATIONAL CENTER OF EXCELLENCE FOR MICROFINANCE AND INCLUSION OJK - PUSAT KEUANGAN MIKRO DAN INKLUSI (OJK- PROKSI)
OJK INTERNATIONAL CENTER OF EXCELLENCE FOR MICROFINANCE AND INCLUSION OJK - PUSAT KEUANGAN MIKRO DAN INKLUSI (OJK- PROKSI) Microfinance Sub Sectors in Indonesia Micro- Credit Very small loan No Collateral
More informationThe State of the Evidence Base on WASH Microfinance. Tweet us your reflections and questions! #WASHEvidence
The State of the Evidence Base on WASH Microfinance Tweet us your reflections and questions! Water is the way To break the cycle of poverty To protect and save lives To make a bright future possible for
More informationHighlight of Agriculture Insurance in Indonesia
Highlight of Agriculture Insurance in Indonesia Monday, 6 November 2017 Jakub Nugraha Head of MI and Agriculture Insurance Division PT Asuransi Central Asia Head of Micro Insurance Dept - Indonesia General
More informationFinancial Access and Financial Regulation and Supervision Issues and Practices
Financial Access and Financial Regulation and Supervision Issues and Practices Seminar for Senior Bank Supervisors Federal Reserve and the World Bank October 18, 2006 Presented by: Anjali Kumar World Bank
More informationSECTOR ASSESSMENT (SUMMARY): FINANCE 1
Country Partnership Strategy: Thailand, 2013 2016 A. Sector Issues and Opportunities SECTOR ASSESSMENT (SUMMARY): FINANCE 1 1. Thailand has a sound and well-regulated banking system, capital market, and
More informationRegional Conference on Risk Transfer and Micro-Insurance for Resilience Building in the IGAD region
Background Concept Note Regional Conference on Risk Transfer and Micro-Insurance for Resilience Building in the IGAD region Kampala, Uganda September 2-3, 2016 With the increasing number of disasters over
More informationAssets Channel: Adaptive Social Protection Work in Africa
Assets Channel: Adaptive Social Protection Work in Africa Carlo del Ninno Climate Change and Poverty Conference, World Bank February 10, 2015 Chronic Poverty and Vulnerability in Africa Despite Growth,
More informationE- ISSN X ISSN MICRO FINANCE-AN IMPERATIVE FOR FINANCIAL INCLUSION IN INDIA
MICRO FINANCE-AN IMPERATIVE FOR FINANCIAL INCLUSION IN INDIA Dr.K.Jayalakshmi PDF(ICSSR),Dept. of Commerce,S.K.University, Anantapur. Andhra Pradesh. Abstract Financial inclusion is a flagship programme
More informationFinancing Options and Issues Session 6: Access to Financing Options and Instruments
IMF Workshop on Building Resilience to Natural Disasters and Climate Change DISASTER RISK FINANCING AND INSURANCE PROGRAM (DRFIP) April 4-6 2017 Financing Options and Issues Session 6: Access to Financing
More informationThe Status of Agricultural and Rural Financial Services in Southern Africa Zambia Country Report
The Status of Agricultural and Rural Financial Services in Southern Africa Zambia Country Report Lemmy Manje, Melanie Newman Wilkinson Taj Pomodzi Hotel Friday, 13 th December 2013 Making financial markets
More informationMICROFINANCE IN LATIN AMERICA AND THE CARIBBEAN: PAST, PRESENT AND FUTURE
MICROFINANCE IN LATIN AMERICA AND THE CARIBBEAN: PAST, PRESENT AND FUTURE Nancy Lee General Manager MULTILATERAL INVESTMENT FUND Multilateral Investment Fund Member of the IDB Group Microfinance Trends
More informationClimate Insurance Fund
Climate Insurance Fund An innovative approach to safeguard against extreme weather events in developing countries Frankfurt, 5 th July, 2013 Monika Beck Director Competence Center Financial Sector Development
More informationDeveloping a Disaster Insurance Framework for Pakistan
Developing a Disaster Insurance Framework for Pakistan Fund Design Options RECURRING NATURAL HAZARDS ERODE RESILIENCE A NATIONAL DISASTER INSURANCE FUND TO SUPPORT VULNERABLE LOW-INCOME PEOPLE The people
More informationInternational Agricultural Development Policy AGEC 689 Dr. Roger D. Norton. Module 6. Challenges in Agricultural Financial Policy
International Agricultural Development Policy AGEC 689 Dr. Roger D. Norton Module 6. Challenges in Agricultural Financial Policy Issues in module 6 p Nature of rural financial markets p Managing risk in
More informationSocial protection for equitable development
Social protection for equitable development BMZ PAPER 09 2017 POSITION PAPER Social protection for equitable development BMZ PAPER 09 2017 POSITION PAPER 2 Table of contents THE CHALLENGE 3 1 SOCIAL PROTECTION
More informationPromoting access to climate insurance InsuResilience Investment Fund (IIF)
Promoting access to climate insurance InsuResilience Investment Fund (IIF) Swiss Sustainable Finance Zurich, 16 January 2018 Protecting the poor and vulnerable from climate risks Initiators Mandate Target
More informationDigital Financial Services: Indonesia Infrastructure Development for Financial Inclusion
2015/SMEWG40/026 Agenda Item: 13.2.1a Digital Financial Services: Indonesia Infrastructure Development for Financial Inclusion Purpose: Information Submitted by: Indonesia 40 th Small and Medium Enterprises
More informationOpportunities and challenges for microinsurance in Zambia. Stakeholder Workshop
Opportunities and challenges for microinsurance in Zambia Stakeholder Workshop Lusaka, 11 June 2009 Agenda 08:30-09:00 Arrival and tea/coffee 09:00 09:15 Welcoming Mr Gerry Finnegan, Director ILO Lusaka
More informationMicroinsurance: Strategies for accelerating uptake. Lemmy Manje OESAI Conference August 27, 2018
Microinsurance: Strategies for accelerating uptake Lemmy Manje OESAI Conference August 27, 2018 About FinProbity Solutions IDEAS TO ACTION Navigation Business Case for Insurance Inclusivity State of Insurance
More informationOverview. Financial Systems approach to microfinance Basic roles and functions of government and donors at various points within the financial sector
Overview Financial Systems approach to microfinance Basic roles and functions of government and donors at various points within the financial sector The Borders of Microfinance are Blurring Khan bank serving
More informationAdd Presenter Name Here. Index Insurance for Agricultural Risk Management
Add Presenter Name Here Index Insurance for Agricultural Risk Management IMAGINE FOR A MOMENT: You re a smallholder farmer. You re just near the poverty line, either above or below just making ends meet
More informationSCALING UP INSURANCE
SCALING UP INSURANCE SVRK Prabhakar Today s Thought Plan Agricultural production risks are growing and buffering of resultant financial shocks is important Risk insurance can be promising but is facing
More informationBoosting Financial Resilience to Disaster Shocks
Boosting Financial Resilience to Disaster Shocks Good Practices and New Frontiers World Bank Technical Contribution to the 2019 G20 Finance Ministers and Central Bank Governors Process January 16, 2019.
More informationPublic Private Partnerships for Agricultural Insurance
Roundtable on the Development of Agriculture Insurance Methodology in Tanzania JUN 23 2016 Public Private Partnerships for Agricultural Insurance Chloe Dugger, Operations Officer World Bank Group Contents
More information