Asia-Pacific Financial Forum (APFF) Workshop on Microinsurance Development Roadmap for Asia-Pacific Emerging Markets March 16, 2017 / Sheraton Hotel, Hanoi, Vietnam Mapping of Inclusive Insurance Situation in the Asia-Pacific Emerging Economies Mr. Dante Oliver Portula Senior Advisor, GIZ RFPI Asia
Map3: Market Potential Map4: Resources Map2: Stages of MI regulatory development (Opportunity for peer-topeer learning) Map5: What is lacking? Map1: What is there in the emerging APEC countries? (MI market drivers and results)
Sources of data Map1: What is there in the emerging APEC countries? MI market drivers and results Proportionate Regulatory Frameworks in Inclusive Insurance: Lessons from a Decade of Microinsurance Regulation, A2ii, Nov 2016 World map of microinsurance, MiN Insights on Mobile Network Operators as a distribution channel for microinsurance in Asia, MiN and Munich Re Foundation, 2016 Map2: Stages of MI regulatory development (Opportunity for peer-to-peer learning) The Landscape of Microinsurance in Asia and Oceania 2013, Munich Re Foundation, GIZ, MiN Map3: Market Potential United Nations Population Division estimates, 2017 WB Poverty headcount ratio, at $1.90 a day UNDP Multidimensional Poverty Index (MPI), Population living below income poverty line National Financial Inclusion Strategies, Current State of Practice, AFI, 2015 The Global Findex Database 2014, WB Group Map4: Resources GIZ RFPI Asia Map5: What is lacking? Proportionate Regulatory Frameworks in Inclusive Insurance: Lessons from a Decade of Microinsurance Regulation, A2ii, Nov 2016 GIZ RFPI Asia
Map1: What is there in the emerging APEC countries? (MI market drivers and results) MI Regulations to country population (2012 &2013) Large aggregator (MNOs) 0.88%, 11.9M lives 14%, 9.3M lives 3.8%,1.1M lives 0.56%,1.3M lives 0.18%,0.15M lives 20%, 21.3M lives 15%, 11.3M lives 12%, 3.5M lives 7%, 1.2M lives
Map2: Stages of MI regulatory development (Opportunity for peer-to-peer learning) Growth Growth Growth Growth
Map3: Market Potential # population (2017) Poverty line, UNDP Poverty headcount ratio, $1.9/day, WB Financial Inclusion strategy 1.3B 2% 31M 68M 0.28% 0.04% 12% 95M 23M 103M 3% 17% 13% 25% 130M 3% 52% 263M 8% 7M 39% 32M 3% 23% 11% 18M
Map4: Resources
Map5: What is lacking? Responsive and proportionate regulations > Formalization to protect the clients of informal activities > Systematic gathering and analysis of market data > Responding to innovations such as use of digital technology and other distribution channels > Sustainability of state-led MI programs Scalable business models > Range of products that offer better value for clients > Products for agriculture, health, SMEs and climate risk > Exploration of new distribution channels > Accelerating use of digital technology Sustainable FinLit measures > Further efforts in market education and financial literacy > Cost efficient financial education strategies Inter-agency cooperation > Among different financial regulators and government ministries > Complementation of private insurance and social protection programs > Among industry players and other stakeholders
Country China With MI regulation Large aggregator MI coverage ratio Indonesia 0.56% Malaysia 3.8% Stage of MI development Population Poverty ratio Poverty line 0.88% Growth 2% nd Growth 1.3B 263M 31M 8% 11% 0.28% nd FI strategy PNG nd nd 7M Philippines 20% 103M 39% 13% 25% Thailand 14% 68M 0.04% 12% Taipei nd Growth nd nd 23M Vietnam 0.18% 95M 3% 17% Chile 7% 18M nd nd Mexico 15% 130M 3% 52% Peru 12% 32M 3% 23%
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