Report 14th International Microinsurance Conference 2018
16
Pre-conference workshop: Promoting cross-country knowledge exchange and regulatory dialogue
Hosted by MEFIN/GIZ-RFPI
By Mandargua Tsegmid and Dante Oliver Portula The session brought together African and Asian public and private insurance stakeholders, who shared insights into promoting inclusive insurance markets across countries through peer-to-peer platforms. The Mutual Exchange Forum on Inclusive Insurance Network (MEFIN) countries (Indonesia, Mongolia, Nepal, Pakistan, the Philippines, Sri Lanka and Vietnam) have a combined microinsurance client outreach of about 75 million people. The Philippines, Indonesia and Pakistan have the biggest outreach at 34 million, 22 million and 16.8 million respectively4, as of June 2018. Financial institutions are the dominant distribution channels. MNOs and utility companies are additional channels used in the Philippines, Indonesia and Pakistan. The main drivers for market development in the region are the (proportionate) microinsurance regulatory frameworks and national strategies that enable private insurers and intermediaries to participate actively in the market.
Box 3 MEFIN Network Structure and Functions Regional Steering Committee (RSC) The RSC provides strategic direction to the Network. It develops policies in line with the goal of MEFIN as a platform for effective and efficient exchange of knowledge and experiences for the promotion of inclusive insurance markets in the region. Created and supervised by the RSC, the Technical Working Groups (TWGs) currently encompass Regulation and Supervision (TRS), Business Models (TBM), Capacity Building (TCB) and Knowledge Management (TKM). The RSC is supported by a Secretariat. Composed of technical specialists of GIZ RFPI Asia Program, the Secretariat provides content, technical and administrative backing to the RSC – especially in the implementation and monitoring of the Work Plan of the Committee and of the Technical Working Groups.
The MEFIN Network was formed in May 2013 as a peer-to-peer group of regulators with assistance from the GIZ RFPI Asia program. MEFIN transformed into a Network in February 2016 (see Box 3 for details of the MEFIN structure). To deepen knowledge sharing and capacity building on microinsurance in the industry, five leading private microinsurance entities in the Philippines founded MEFIN Incorporated on July 2017. MEFIN Inc. aims to address financial sustainability of the MEFIN Network to institutionalise knowledge exchange activities and the PPDs. Sustaining and attracting new members to the network remains a challenge however as some existing members lack the motivation to invest in it.
The MEFIN Network conducts regular Public Private Dialogue (PPD) forums (about 3 per year). Source: mefin.org/about.html
13 — Left to right: Dirk Reinhard, Vice-Chairman – Chairman of the Conference Steering Committee, Munich Re Foundation, Germany, Katherine Pulvermacher, Executive Director, Microinsurance Network, Luxembourg; Dante Portula, Senior Advisor, GIZ-RFPI, Philippines; Antonis Malagardis, Program Director, GIZ-RFPI, Philippines
13
14
14 — Mandargua Tsegmid, Senior Officer at Financial Regulatory Commission of Mongolia, welcoming the participants on behalf of the chair of the MEFIN-platform. 15 — Luc Noubissi, Senior Insurance Specialist, CIMA, Cameroon
4 Source: Data compiled by GIZ RFPI Asia, Secretariat of MEFIN Network
15
