10 Inclusive Insurance in National Financial Inclusion Strategie
2. BACKGROUND: NATIONAL FINANCIAL INCLUSION STRATEGIES AND INCLUSIVE INSURANCE to achieve financial inclusion objectives
2.1. National Financial Inclusion Strategies (NFIS) a variety of financial services
public and private sector
NFIS
steering & coordination structure
roadmaps of actions
indicators
stakeholder coordination
The idea of NFIS goes back to Microfinance Strategies. More than a decade ago, a number of countries had already recognized the benefits of a national strategy and developed “National Microfinance Strategies”. A CGAP mapping in 2006 identified at least 12 countries with such strategies9, which can be considered as predecessors of what are today the NFIS. With the G20 and its Global Partnership for Financial Inclusion (GPFI) endorsing their “Principles for Innovative Financial Inclusion” in 2010, topics such as leadership and commitment to financial inclusion (principle 1), diversity of financial services (principle 2) and cooperation (principle 6) came to the center of attention, also leading to a stronger focus on national strategies as key instruments. In November 2011, as implementing partner of the GPFI, AFI committed itself to promoting these principles. A2ii, with its mission to “inspire and support insurance supervisors to promote inclusive and responsible insurance, thereby reducing vulnerability”10 has also been committed to the development of a more enabling environment for inclusive insurance. NFIS can be defined as roadmaps of actions, agreed and defined at the national level, which stakeholders follow in order to achieve financial inclusion objectives. They provide an opportunity to introduce an evidence-based, prioritized, better resourced, and more comprehensive approach to expanding access and usage of financial services. Successful strategies coordinate efforts with main stakeholders, define clear responsibilities and plan 9 CGAP, 2008. 10 A2ii, 2013: 1.
