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Mutual Exchange Forum
on Inclusive Insurance

Insurance Regulators and Insurance Industry Players in Asia Come Together to Crack the Code of Insurtech for Inclusive Insurance for Climate Risk and Agriculture

The MEFIN Network organizes the 5TH MEFIN Public Private Dialogue for Inclusive Insurance on 21 and 22 March 2018 at the Face Galle Hotel, Colombo, Sri Lanka. The Mutual Exchange Forum on inclusive Insurance (MEFIN Network) is a network of insurance regulatory authorities and industry players in Asia working for a peer-to-peer exchange of knowledge and experiences. There are currently seven member-regulators of the MEFIN Network namely: OJK Indonesia, FRC Mongolia, Beema Samiti Nepal, SECP Pakistan, IC Philippines, Insurance Regulatory Commission of Sri Lanka (formerly IBSL) and MoF-ISA Vietnam. The MEFIN PPD 5 is co-organized with the Munich Re Foundation.

The Public private dialogue (PPD) on microinsurance or inclusive insurance is one of the platforms of the MEFIN Network to have peer-to-peer learning among insurance regulators. The PPD provides opportunity both to the regulators and the insurance industry to exchange knowledge and discuss issues and solutions in further developing the market of microinsurance in its respective jurisdictions. The PPD is conducted twice a year.

Various topics are covered in the PPDs. The PPD1 in Manila (July 2016) focused on Proportionality practices in regulation. The PPD2 in Hanoi (March 2017) discussed regulatory practices and business models on MicroHealth and Disaster Risk Insurance. The PPD3 in Ulaanbaatar (September 2017) emphasized insurance value chain and SMEs. The PPD4 in Makati (January 2018) reflected on digitalization – whether it is an enabler or a threat to inclusive insurance.

This bi-annual event is supported by the GIZ Regulatory Framework Promotion of Pro-poor Insurance Markets in Asia (RFPI Asia II) Project, which serves as Secretariat to the MEFIN Network. GIZ RFPI Asia contributes to the improvement of access to insurance by building capacities for insurance regulation and supervision and promoting development of innovative insurance solutions for the low-income people. It is currently working in Indonesia, Mongolia, Nepal, Pakistan, Philippines, Sri Lanka and Vietnam is based in the Philippines.

"In MEFIN PPD5, we aim to have constructive and collaborative exchange of insights and experiences on how to utilize Insurtech in facilitating risk management through inclusive insurance and elevate the industry’s understanding of the opportunities and challenges ahead brought about by the Blockchain technology", explains Dr Antonis Malagardis, Program Director of GIZ RFPI Asia.

Related events are also happening within the MEFIN PPD5. Yesterday, a workshop on technical issues on blockchain technology was conducted to prepare the participants for the in-depth discussion during the PPD. The MEFIN Network will also have their organization meetings on 22 March 2018 to discuss the workplans and organizational matters of the network. The Consultative Forum organized by the Microinsurance Network, a2ii and IAIS, and also with support from MEFIN Network, will be held on 20 March 2018. Local insurance industry players, insurance regulators and relevant government agencies in the country will also join the PPD.

Contacts:

Dr Antonis Malagardis, Program Director, GIZ RFPI Asia
[email protected]
www.inclusiveinsuranceasia.com; www.mefin.org

Raquel J Capio, Senior Advisor for KM and PR, GIZ RFPI Asia
[email protected]
63 928 5039348

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