Zurich Integrated Benefits’ Post

🌍 Exciting updates on the 4th iii-lab! From 14-15 February, Dakar, the vibrant capital of Senegal, played host to the inaugural national workshop of the 4th iii-lab. This event kicked off with remarks from Mr Mamadou Deme, Director of Insurance at the Ministry of Finance and Budget of Senegal, and Mr Rogier Hekking, Deputy Ambassador of the Netherlands. 💡Over two intensive days, participants engaged in deep discussions and fostered personal connections within the national multi-stakeholder team. This diverse assembly included representatives from various ministries, the insurance regulator, brokers, industry professionals, consumer associations, civil society, and international organisations. 🤝Bringing together a wealth of institutional expertise, participants shared insights into the profound impact of climate change and explored innovative ways to leverage inclusive insurance for the protection of vulnerable populations. ⏳ As one lab participant expressed, "𝑰𝒏 𝒕𝒆𝒏 𝒚𝒆𝒂𝒓𝒔, 𝒎𝒂𝒚𝒃𝒆 𝒘𝒆 𝒄𝒂𝒏 𝒔𝒂𝒚 𝒕𝒉𝒂𝒕 𝒘𝒆 𝒘𝒆𝒓𝒆 𝒂𝒏 𝒊𝒎𝒑𝒐𝒓𝒕𝒂𝒏𝒕 𝒑𝒂𝒓𝒕 𝒐𝒇 𝒄𝒓𝒆𝒂𝒕𝒊𝒏𝒈 𝒕𝒉𝒆 𝒑𝒓𝒐𝒕𝒆𝒄𝒕𝒊𝒐𝒏 𝒕𝒉𝒂𝒕 𝒆𝒗𝒆𝒓𝒚𝒐𝒏𝒆 𝒄𝒂𝒏 𝒉𝒂𝒗𝒆 𝒊𝒏 𝑺𝒆𝒏𝒆𝒈𝒂𝒍 𝒕𝒐𝒅𝒂𝒚." In tackling the challenges posed by climate change 🌪 , the group has chosen to focus initially on vulnerable segments of the population, such as smallholder farmers, fisherfolk, and garbage collectors. Moreover, they have embraced an overall gender-sensitive approach, and are examining how insurance regulation can foster innovative and inclusive solutions to enhance resilience. Following the workshop, the national team will embark on further exploration, splitting into smaller working groups to map the stakeholder landscape and conduct interviews to refine the scope of their project. 🔔 The 4th iii-lab is marking the beginning of a 12-month journey where teams from Armenia (Central Bank of Armenia), Nepal, and Senegal, comprising key stakeholders from the insurance sector, collaborate on innovative insurance solutions to bolster resilience against the impacts of climate change. 👉 For more information on the iii-lab and its transformative initiatives, see our website: https://lnkd.in/eFZtg2m9     #iiilab #inclusiveinsurance #gender #microinsurance #financialinclusion #climaterisk #disasterrisk IAIS - International Association of Insurance Supervisors Reos Partners Yiannis Chrysostomidis FRSA Rachel Jones Teresa Pelanda Joscha Sisnowski MONICA ODHIAMBO Matthias Range Janina Voss Stephanie Campos Dunja Latinovic Pascale Lamb Regina Lidia Giordano Simoes Rachelle Jung Laura Moxter Morales Milena Kozomara Letizia Fezzi Maria Fernanda Monsalvo

Very little has changed in the Ethiopian insurance industry over the last fifteen years but there is a potential silver lining: a few fundamental changes are setting the scene for potentially dramatic shifts in the financial and insurance sector. In this article "Then and Now: Is Ethiopia at an Inflection Point After 15 Years of Insurance Underdevelopment?", we explore the current state of the Ethiopian insurance industry and highlight the potential for significant changes in the near future. FSD Africa Cenfri Craig Churchill Henri Dommel Yoseph Aseffa United Nations Capital Development Fund (UNCDF) The ILO's Social Finance Programme Craig Thorburn Anja Smith https://lnkd.in/deJB7Mqm

A study shows Uganda’s uptake of formal insurance is the lowest in the region, with the uptake of formal insurance being 6% in Kenya, 9% in Rwanda, and 15% in Tanzania. https://lnkd.in/dxb9qiz5

The The Microinsurance Network (MiN) has announced a strategic partnership with the AIO - African Insurance Organisation to advance inclusive insurance markets across Africa. This collaboration, supported by the International Labour Organization’s (ILO) Impact Insurance Facility, aims to create a robust platform for knowledge sharing, capacity building, and the promotion of product development in the inclusive insurance sector. Objectives of this partnership include: ☑ Knowledge Sharing: The AIO Microinsurance Working Group (AIO MWG) will serve as a hub for sharing best practices and lessons learned, fostering a collaborative environment to advance inclusive insurance practices across Africa. The ILO will contribute expertise and research to enrich these exchanges. ☑ Promotion of Product Development: The partnership will focus on developing innovative insurance products tailored to the unique needs of African populations, addressing existing gaps in coverage and enhancing economic resilience. ☑ Capacity Building: Efforts will be made to enhance the skills and knowledge of stakeholders through training and events at various levels, building a competent workforce equipped to grow inclusive insurance markets. The MiN will support these activities by providing technical expertise and facilitating knowledge exchange. The AIO MWG will also leverage MiN’s network to collect data for the annual Landscape of Microinsurance Study, tracking the evolution of inclusive insurance. #InclusiveInsurance #FinancialInclusion #Microinsurance #AfricaInsurance #CapacityBuilding

Chunky Chhetry, President - Nepal Insurers’ Association – CEO, Sagarmatha Lunbini Insurance: “#Empowering over 2 billion people in South Asia with accessible insurance is not just a goal; it's a necessity. At ICII 2024, let's shape strategies to ensure no one is left #vulnerable. Together, we can create a more secure tomorrow.” CALL FOR PROPOSALS #ICII2024 https://lnkd.in/dZfM2vtV The International Conference on Inclusive Insurance 2024 will take place from 21-25 October 2024 in Kathmandu, #Nepal. 400+ experts from 50+ countries will discuss and identify ways of accelerating growth and #economic #viability for households in inclusive insurance for emerging markets. The conference will be hosted by the NEPAL INSURANCE AUTHORITY (Insurance Regulatory), Nepal Insurers' Association and the Life Insurance Association of Nepal in cooperation with Munich Re Foundation and the The Microinsurance Network. To cover subjects that are currently of interest, the conference organisers are calling for proposals on the following topics: 1. The #business models for hashtag #inclusive #insurance 2. ICII 2024 #pitching session 3. #Digital solutions for inclusive insurance 4. New inclusive insurance products or #partnerships… … in the fields of #health or #hospital cash … in the fields of #funeral insurance or family financial support covers after breadwinner death … in the field of (micro) #pensions 5. Coping with #climate and #pandemic risks 6. Enabling (#regulatory) environment 7. #Gender-sensitive #inclusiveinsurance 8. Consumer #education: build capacities of people, societies and institutions 9. Looking back: #successes and #failures in inclusive insurance 10. Learnings from #scientific #research Submission deadline for proposals and draft papers: 9 May 2024 Pujan Dhungel Pioneer Insurance Craig Churchill Martin Eling Denis Garand Fatou Giwa Jeremy Gray Glenn Harrison Anne Kamau Richard Leftley Lemmy Manje Michael J. McCord Oliver Milosch Sabbir Patel Poshak Paudel, FLMI, ACS Matthias Range Dirk Reinhard Yugesh Shrestha Miguel Solana UNCDF Digital UNDP Sustainable Insurance Forum (SIF) Access to Insurance Initiative (A2ii) The ILO's Social Finance Programme Microinsurance Master Global Shield against Climate Risks InsuResilience Solutions Fund (ISF) United Nations Environment Programme Finance Initiative (UNEP FI) Ekhosuehi Iyahen Insurance Development Forum Asia Insurance Review Asier Achutegui Insurance Regulatory and Development Authority of India IFC - International Finance Corporation The World Bank Group Arup Chatterjee Asian Development Bank (ADB)

Then and now: Is Ethiopia at an inflection point after 15 years of insurance underdevelopment? – Cenfri Then and now: Is Ethiopia at an inflection point after 15 years of insurance underdevelopment? 22 FEBRUARY, 2024  •   Doubell Chamberlain Very little has changed in the Ethiopian insurance industry over the last fifteen years but there is a potential silver lining: a few fundamental changes are setting the scene for potentially dramatic shifts in the financial and insurance sector. https://lnkd.in/dK5Z2eaZ National Insurance Company of Ethiopia S.C Private Bank and Insurance share sell in Ethiopia

Deadline ends in 6 days! “Access to insurance is typically affected by several factors. These include unconscious biases in marketing, cultural practices, limited digital access and general mistrust of insurance. At the ICII 2024, we will discuss how to overcome such challenges.” Anne Kamau, Co-Founder and Director, AB Entheos Limited, Kenya – Member of the Steering Committee of the ICII 2024 Submit your proposal to the #ICII 2024 now! #CALL FOR #PROPOSALS Submission #deadline for proposals and draft papers: 9 May 2024 #ICII2024 https://lnkd.in/dZfM2vtV The #ICII2024 will take place from 21-25 October 2024 in Kathmandu, #Nepal. 400+ experts from 50+ countries will discuss and identify ways of accelerating growth and #economic #viability for households in inclusive insurance for emerging markets. The conference will be hosted by the NEPAL INSURANCE AUTHORITY (Insurance Regulatory), Nepal Insurers' Association and the Life Insurance Association of Nepal in cooperation with Munich Re Foundation and The Microinsurance Network. To cover subjects that are currently of interest, the conference organisers are calling for proposals on the following topics: 1. The #business models for #inclusive #insurance 2. ICII 2024 #pitching session 3. #Digital solutions for inclusive insurance 4. New inclusive insurance products or #partnerships… … in the fields of #health or #hospital … in the fields of #funeral insurance or family financial support covers after breadwinner … in the field of (micro) #pensions 5. Coping with #climate and #pandemic risks 6. Enabling (#regulatory) environment 7. #Gender-sensitive #inclusiveinsurance 8. Consumer #education: build capacities of people, societies and institutions 9. Looking back: #successes and #failures in inclusive insurance 10. Learnings from #scientific #research Pujan Dhungel Craig Churchill Martin Eling Denis Garand Fatou Giwa Jeremy Gray Glenn Harrison Anne Kamau Richard Leftley Lemmy Manje Michael J. McCord Oliver Milosch Sabbir Patel Poshak Paudel, FLMI, ACS Matthias Range Dirk Reinhard Yugesh Shrestha UNCDF Digital UNDP Sustainable Insurance Forum (SIF) Access to Insurance Initiative (A2ii) United Nations Environment Programme Finance Initiative (UNEP FI) Insurance Development Forum Asia Insurance Review Asier Achutegui IFC - International Finance Corporation The World Bank Group Arup Chatterjee Asian Development Bank (ADB) Ceandra Faria USAID Aistė Vyšniauskaitė

#pressrelease #AfricaNewsroom #bizcommunity #publicrelations #africa #southernafrica #southafrica Aon South Africa Launches 2024 Insurance State of the Market Report - Resilience shaped the risk and insurance community in 2023. Economic inflation, a slow supply chain...

I recently encountered the term "The winners curse," and it got me thinking. While not a new concept to me, having faced it numerous times in my insurance business development career, labeling it a curse caught my attention! The winners curse occurs when a victorious company in a bidding war overpays, leading to unfavorable outcomes. In my experience, this phenomenon has contributed to the negative profitability of the health insurance sector in Kenya. For businesses navigating highly competitive landscapes, the challenge lies in growing sustainably while evading this curse. How can companies thrive in such environments without falling victim to underpricing/overpayment and its consequences? #BusinessDevelopment #InsuranceSector #CompetitiveEnvironment #WinnersCurse #Kenya #Profitability

Africa is a continent with the youngest population in the world. According to the United Nations, 70% of sub-Saharan Africa is under the age of 30. Such a high number of young people is an opportunity for the continent’s growth – but only if these new generations are fully empowered to realise their best potential. This webinar aims to provide insights into the current situation of inclusive insurance in Africa and more importantly to assess the role the young insurance professionals play. It also aims to bring together various industry players and experts in the field of inclusive insurance to assess the contribution the young professionals can play in creating awareness, developing, and distributing inclusive insurance products/projects across the African Continent. Further to the above, Young Insurance Professionals (YIPs) Africa in collaboration with IFAGE-Institut Interafricain de Formation en Assurance et en Gestion des Entreprises, International Labour Organization and The Microinsurance Network has organized a special webinar that will be speaking to the Role of Young Insurance Professionals in promoting Inclusive Insurance in Africa in commemoration with the 2024 International Labour Day Celebration. Date: 30th April 2024 Time: 12pm GMT, 1pm WAT, 2pm CAT Venue: Zoom Registration Link: https://lnkd.in/ehuBec2F Looking forward to having you join the conversation. Be knowledge driven.... Tobi Osanaiye ACII, MSc, MBA Mubarik Ibrahim, CPCU, ARM, CIRM, ACII Patrick LOWEH ACIIN Tala N. Ndze ACIIN, MBA Nouha Benhenda Rachida Fersadou Mouhoubi Karimi Nthiga Renata DE LEERS Lisa Morgan Dr. Anselmi Anselmi Rokhaya KANDJI Pranav Prashad Association Actuaires du Monde - Actuaries of the World Africa College of Insurance & Social Protection (ACISP) Camyla Fonseca #inclusiveinsurance #insurance #africa #risk #riskmanagement