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Welcome! In this newsletter, we provide you with updates on the work of the A2ii, events and publications, and experiences and learning on inclusive insurance regulation and supervision across jurisdictions over the past month.

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iii-Lab Update | News | Upcoming Events | Publications | Recent Events | Blog | Index Insurance Insights | ICP Tool | Trainings | Useful Tools on Our Website

iii-Lab Update 

Satellite Based Insurance for 10.000 farmers in Nepal 

Four Nepalese organisations that started working together in the context of the iii-lab have entered into a new partnership to pilot the country’s first-ever satellite-based weather index insurance for farmers.  This collaboration aims at providing crucial protection to over 10,000 farmers in Nepal, covering risks such as drought and extreme heat.

Four participating instituions are involved in this project: 

PlantSat, a pioneering climate-insurtech startup has entered into a partnership with Shikhar Insurance Co. Ltd. to revolutionize how smallholder farmers manage climate risks.  They are joined by Nepal Agricultural Co-operative Central Federation Ltd. (NACCFL) with its extensive network of over 1,300 agricultural cooperatives and 1.3 million agricultural households that will support distribution and network development. eSewa Ltd., the pioneer digital wallet of Nepal will contribute with its e-wallet services, facilitating premium payments and payouts. 

The product, initially proposed as a potential second pilot during the iii-lab, has now been successfully rolled out after the end of the official lab process. It uses satellite technology to trigger automatic payouts based on real-time weather data, providing farmers with timely support when needed.

News

A2ii launches the KPI Training Series for Insurance Supervisors

The A2ii has launched a self-directed training series on Supervisory Key Performance Indicators (KPIs) for Inclusive Insurance. The program is designed to equip insurance supervisors with essential tools for assessing and monitoring insurance markets. 

The KPI Training Series consists of three specialized modules: Prudential Pillar (access here), Market Conduct Pillar (access here) and Market Development Pillar (access here). The training provides a comprehensive understanding of KPI implementation, regulatory monitoring, and data analysis, addressing key challenges and best practices. The program is available free of charge, interested participants can register at connect.a2ii.org. 

A2ii launches New Actuarial Training for Insurance Supervisor

The International Actuarial Association (IAA), Access to Insurance Initiative (A2ii), and International Association of Insurance Supervisors (IAIS) have launched a free, self-paced virtual training on actuarial competencies for insurance supervisors, now available in French.
The program consists of eight key modules, covering regulatory frameworks, capital adequacy, and risk-based solvency oversight. It combines practical analysis, knowledge checks, and case studies to support effective supervision. The training is available free of charge in French on connect.a2ii.org. Interested participants can access the course here.

Upcoming events

The AFD Conference on Financial Inclusion | 3 April | Paris, France

The A2ii is pleased to announce that Matthias Range, Executive Director of A2ii, will be a speaker on the second panel of the upcoming conference Financial Inclusion: A Driver for Sustainable Growth and Inequality Reduction, hosted by the Agence Française de Développement (AFD). 

Bringing together experts, practitioners, and policymakers, the conference will explore the role of financial inclusion in achieving SDG 8 (Decent Work and Economic Growth) and SDG 10 (Reduced Inequalities). 

More than just access to financial services, financial inclusion is a powerful tool for addressing today’s social, economic, and environmental challenges. It fosters growth by facilitating access to credit and other financial services that support investment and entrepreneurship. It also creates opportunities for the economic and social integration of populations excluded from financial systems, who are often disproportionately impacted by multidimensional inequalities. Financial inclusion is a key driver for economic and social stability, as well as resilience to major shocks.

The agenda will feature three roundtable discussions covering:

• Access to financial services and financial health of excluded populations,

• The role of financial inclusion public policies in fostering stability and resilience,

• Reducing vulnerabilities to climate change in the context of a just transition. 

The event will take place on April 3, 2025, from 09:00 to 19:00 CET in Paris, with options for both in-person and online participation. For inquiries, please contact Solène Le Bleis (lebleiss@afd.fr) or Laurène Déquier (dequierl@afd.fr).

A2ii-IAIS Public Dialogue - Index Insurance Innovations, Challenges, and Regulatory Trends | 7 May

The A2ii, in partnership with IAIS, invites all interested stakeholders to a Public Dialogue on index insurance and climate risk. This webinar will bring together industry representatives and regulators from diverse regions to discuss current trends in index insurance regulation. Key topics will include evolving regulatory approaches, consumer protection measures, and the role of technology in ensuring product reliability. Additionally, the discussion will highlight the limitations of index insurance, such as basis risk, data quality concerns, and the challenges of ensuring affordability and accessibility.

By fostering dialogue between regulators and industry experts, the webinar aims to identify regulatory best practices that balance innovation with consumer protection. Participants will gain insights into the opportunities and constraints shaping the future of index insurance in addressing climate risks.

The Public Dialogue will take place on May 7, 2025, at 10:00 CEST via Microsoft Teams. The event will be conducted in English and open to all interested participants. Speakers will include representatives from IAIS, industry experts, and insurance supervisors from emerging markets and developing economies from Asia and Africa. Interested participants are kindly invited to register here.

NAIC International Fellows Virtual Program | 28 April - 12 May

The National Association of Insurance Commissioners (NAIC) is now accepting applications for the NAIC International Fellows Virtual Program, taking place from April 28 to May 12, 2025. The program includes recorded lectures by NAIC technical experts covering all aspects of U.S. state-based insurance regulation. Participants will also have the opportunity to engage with NAIC staff to gain a deeper understanding of how insurance is regulated in the U.S. and the NAIC's role in supporting state-based regulation.
The Fellows Virtual Program will feature approximately 20 hours of pre-recorded lectures by NAIC technical experts, available for viewing at any time between April 28 and May 12, 2025. While there will be no live sessions, participants can engage with presenters through Q&A functions, and the program is free of charge. For registration, click here.
Application Deadline: April 11, 2025
Notification of Selected Participants: Week of April 18, 2025

Publications

Compendium of Proposals for CALMA RIESGOS. “Boosting insurance for climate risks”.

The Innovation Fund of the GADER-ALC network (GIZ) organized the regional event “Impulsando Seguros para Riesgos Climáticos,” bringing together advisors and representatives from the insurance industry to foster dialogue and collaboration on the development of climate risk insurance solutions. This event aimed to enhance understanding of the challenges and opportunities in the field, with the goal of co-creating a Regional Roadmap for promoting climate insurance across Latin America.

A key outcome of the event is the Compendium of Proposals for CALMA RIESGOS, which captures insights and experiences shared by the 35 participants. 

The full report of the results from this event has now been published, and you can access it here. 

Recent events

A2ii attends webinar of the “Innovation Challenge: Microinsurance” | 19 February 

On February 19, 2025, A2ii took part in the Webinar of the “Innovation Challenge: Microinsurance” (“Reto de Innovación: Microseguros”), organized by the Junta de Política y Regulación Financiera and PNUD Ecuador. The webinar focused on “Cases of Microinsurance in Brazil” (“Casos de microseguros en Brasil”). 
Regina Simoes, A2ii Regional Coordinator for Latin America, was a speaker at the event, presenting on the "Impact of inclusive insurance regulations in Brazil", based on an A2ii's publication, available here.

A2ii at the Financial Inclusion Forum (FIF) | 21 February 

On February 21, a virtual Financial Inclusion Forum (FIF) took place, where the IAIS Secretariat presented the 2025 FIF workplan. Members then shared updates on inclusive insurance and financial health, highlighting innovations in product design, distribution, technology, and regulation aimed at improving financial well-being through insurance in their jurisdictions. A2ii was represented at the event by Milena Kozomara, A2ii's Advisor.

Guest speakers Annar Kara, Senior Financial Sector Specialist, and Eric Duflos, Senior Policy Advisor from CGAP, presented CGAP’s work on financial health, emphasizing the links between the financial sector and financial well-being, as well as CGAP’s work on inclusive insurance. Participants also discussed the revised structure of the Application Paper on Regulation and Supervision Supporting Inclusive Insurance Markets, along with timeline and next steps. It was suggested that the development of the Application Paper is done by the FIF drafting group with support from the IAIS Secretariat.

Looking ahead, the next FIF meeting will be an in-person event in Costa Rica on April 7–8, 2025, held alongside the Market Conduct Working Group.
 

A2ii took part in the Webinar on Addressing Health Protection Gaps | 5 March

On March 5, 2025, the ASEAN Insurance Training and Research Institute (AITRI), in collaboration with Milliman and the Access to Insurance Initiative (A2ii), hosted a webinar on the topic of "Addressing Health Protection Gaps Through Innovation and Product Development".  The webinar aimed at identifying the current challenges in health protection and exploring solutions through innovation in insurance.

Mr. Paul Low Hong Ceong, CEO of AITRI, opened the webinar by stating that providing accessible and affordable health care in the region will require an examination of health current health systems. He also cited the important role that technology will play in making health care inclusive especially to the vulnerable sectors.  To address these issues, the webinar focused on the following main topics:  an analysis of the existing health protection gaps, innovations in digital health and telemedicine, development of new insurance products to immprove coverage and address existing gaps.

The webinar was attended by 61 participants from the mid- to top level executives mainly from the ASEAN region and is the first webinar that AITRI conducted for 2025.  The A2ii was represented by Ronaldo Limbago, A2ii's Regional Coordinator for Asia.

A2ii at ASSAL IAIS 2025 Annual Conference and the ASSAL-FSI-IAIS High-Level Meeting | 26-28 March | Buenos Aires, Argentina

On March 27th and 28th, the XXIII Conference on Insurance Regulation and Supervision of Latin America ASSAL-IAIS took place in Buenos Aires, Argentina. The event was jointly organized by the Latin American Association of Insurance Supervisors (ASSAL), the International Association of Insurance Supervisors (IAIS), and the Superintendency of Insurance of the Nation (SSN).

Guillermo Plate, Superintendent of SSN, Tomás Soley, President of ASSAL and Superintendent of SUSEGE/Costa Rica, and Conor Donaldson, Head of Implementation of the IAIS, opened the Conference which was attended by more than 110 people from 17 countries.  The keynote speech was given by Argentina's Minister of Economy, Luis Andrés Caputo, which highlighted the recent changes in the country's economy.

The conference agenda included a series of panels on trends and recent developments in Latin American insurance supervision. They also addressed key topics for supervisors in the region, such as reinsurance, and the prevention of money laundering and terrorism financing. Another specific panel focused on the contribution of the insurance market to capital markets in emerging economies. The main challenges that the insurance sector will face in the coming years were also discussed, including climate change, cyber risks and population aging. Artificial intelligence and index-based insurance were also among the trending topics presented at the Conference.

A2ii organized the session “NatCat Risks and Parametric Insurance: case studies and recommendations for implementation”, moderated by A2ii Regional Coordinator for Latin America, Regina Simões. The panel included José Ángel Villalobos (Senior Actuary and Independent Underwriter) presenting on NatCat Bonds, and Jesus Cisneros (EIOPA) who gave the EU’s view on NatCat risks. In turn, Belén Gómez (Rio Uruguay Seguros) provided an example of index-based insurance, while Maria Elisa Alonso (CMF) presented Chile’s new index insurance regulation.  

The Conference was preceded by the ASSAL-FSI-IAIS High-Level Meeting on Insurance Supervision, which took place on 26 March. The supervisors-only event was jointly organized by ASSAL, the Financial Stability Institute (FSI) of the Bank for International Settlements (BIS) and the IAIS and hosted by the SSN. It provided high-level discussions on the following topics: risk-based solvency regimes, climate-related financial risks in insurance, and the role of supervisors in addressing NatCat protection gaps. One of the highlights was the presentation on the FSI-IAIS Insights paper on parametric insurance given by its authors, Denise Garcia (FSI) and Carlos Lopez Moreira (IAIS).

The 2025 conference was live-streamed, drawing an average of 184 online attendees and reaching a peak of 1,825 simultaneous viewers. Interaction was active, with 365 chat messages exchanged and over 13,600 total views recorded by March 28.

A2ii at the NAIC 2025 Spring National | 23-26 March | Indianapolis, IN, USA

The NAIC 2025 Spring National Meeting took place from March 23 to 26, 2025, in the USA, bringing together key stakeholders to discuss important regulatory and industry topics. Among the key sessions was the Commissioners' Roundtable and the Life Insurance and Annuities (A) Committee, held on March 24.

At this event, A2ii was represented by Matthias Range, Executive Director of A2ii, who presented on “Navigating the Asian Inclusive Life Insurance Market: Challenges and Opportunities for Growth.” In his presentation, Matthias aimed to share a comprehensive representation of the status of inclusive life insurance in Asia, shedding light on the progress made as well as the challenges that persist in the region despite notable progress.  He also emphasized the crucial role of regulation, innovation, and public-private partnerships in expanding access to life insurance in the region.

Key takeaways from the presentation included: inclusive life insurance, particularly term life and personal accident coverage, is now the most successful form of inclusive insurance in Asia, with a share of almost 40%. Bundling insurance with savings, health, and mobile services has become a key strategy to improve both accessibility and affordability. Furthermore, growing cooperation with everyday service providers and platforms — similar to Uber — has led to significant growth rates in the sector. Additionally, сredit is also due to the wide-ranging regulatory innovations across Asian markets, such as India and the Philippines, where regulators have expanded the previously restrictive agent-broker-driven distribution models to include MFIs, NGOs, cooperatives, mobile network operators, and fintechs as distributors of microinsurance solutions.

The wider reach of these new distributors has made insurance access more inclusive, which was further supported by the introduction of proportionality in insurance regulations for micro and inclusive insurance products and processes. This has been demonstrated through:

• Simplified insurance policies,

• Financial literacy programs integrated into the insurance value chain,

• Offering space for innovation to flourish,

• The use of digital contracts and providing flexible premium payment options to accommodate low-income individuals.

A2ii extends its gratitude to the NAIC for hosting this important event and providing a platform for meaningful discussions on inclusive insurance.

A2ii at the First Global Partnership for Financial Inclusion Meeting under South Africa’s G20 Presidency |  24-25 March | Pretoria, South Africa 

In 2025, the first plenary meeting of the Global Partnership for Financial Inclusion (GPFI) was held under South Africa’s G20 Presidency took place in Pretoria on March 24-25. The premise of the South Africa G20 Presidency is fostering “Solidarity, Equality, and Sustainability” and the objectives of the GPFI are well aligned with this statement as financial inclusion has the goal of reducing inequality and improving people's lives as an effort towards achieving SDGs. 

Over the course of two days, the plenary focused on “Moving from Access to Usage” of financial products and services to further translate gains in access to meaningful benefits to consumers. The objective is to expand access and enhance the usage of financial services, particularly in the Global South countries where substantial gaps persist.  
In addition to this Presidential Priority, the GPFI will continue its ongoing work in 2025 on issues as outlined in the FIAP 2023:  

• Remittances: Explore opportunities offered by economies of scale and innovation in financial technology for faster and cheaper remittance flows.  

• MSMEs financing: Implement/operationalize the MSMEs Access to Finance Action Plan.  

• Technological solutions: Develop new and innovative technology and solutions for financial inclusion and advancing the quality of inclusion for individuals and MSMEs.

During the GPFI plenary, discussions also addressed engagement with regulation and standard-setting bodies (SSBs) and relationships with non-G20 countries.  

The A2ii was represented by Asmaa Jabri, A2ii's Advisor, welcomed the South Africa Presidency’s priority areas and the 2025 workplan, which align with A2ii’s mission to advance inclusive insurance as a tool for reducing inequality and enhancing resilience, and advocated for the inclusion of references to insurance in them. 

Blogs

Laying the Groundwork for Climate Risk Insurance in the Solomon Islands: Insights from CBSI's Learning Experience at the Inclusive Insurance Training

The Solomon Islands, one of the countries most at risk from natural disasters, is stepping up efforts to protect its coastal communities. Eddie Maek from the Central Bank of Solomon Islands (CBSI) recently completed the 2023 Inclusive Insurance Training (IIT), a program designed to help regulators create practical solutions for vulnerable populations.

The training emphasized parametric insurance, an innovative solution designed to provide rapid payouts following disasters such as cyclones and floods. Eddie Maek reported that the program equipped him with the skills needed to develop a structured and actionable plan while fostering connections with international experts in inclusive insurance. Building on this foundation, the Central Bank of Solomon Islands (CBSI) is now actively working to implement these strategies, aiming to deliver effective protections for the nation’s most vulnerable communities.

If you are interested to learn more about the topic, we invite you to read the full blog on our website.
 

FeMa-Meter Tool

Globally, women constitute the majority of the uninsured population and are underrepresented in insurance policymaking and supervision, which exacerbates their access challenges. To address these issues, A2ii launched the FeMa-Meter on 8 March.

This toolkit collects and reviews sex-disaggregated data to analyse gender differences in insurance indicators. Piloted in Argentina, Lesotho, Pakistan, and Zambia, it has proven to be an effective tool for collecting sex-disaggregated data.

With an intuitive interface, users can input data and generate insights swiftly. To access the FeMa-Meter, visit its dedicated website and its accompanying training module. Join us in advancing gender equality and improving insurance access through data-driven approaches.

Index Insurance Insights

Learn about index insurance in our free training and obtain the A2ii-UNCDF Certificate on Index Insurance for Supervisors. Exclusively designed for insurance supervisors, this certification offers comprehensive insights into index insurance mechanisms. Ready to take the next step? Enrol now on A2ii’s learning platform, Connect.A2ii.

For all other stakeholders not in supervisory roles, access our open version of the training on our website.
 

Insurance Core Principles Self-Assessment Tool 

Have you tried the SAT tool yet? The Insurance Core Principles Self-Assessment Tool is a joint initiative of the IAIS and the A2ii designed to facilitate the assessment of the level of observance of the ICPs. Leveraging the analytical framework of the Peer Review Process, it empowers supervisors to evaluate adherence to these essential principles. 

How it works: 

1. Supervisors can access the tool through the dedicated platform. Once on the platform, they can navigate through a series of questionnaires tailored to each ICP. 

2. The questionnaires are crafted to cover various aspects of each principle, providing a comprehensive evaluation framework. Supervisors can respond to these questions based on their assessment of their jurisdiction’s practices and policies. 

3. Upon completing a questionnaire, supervisors receive immediate feedback. These results offer insights into the level of observance of the assessed ICP, enabling supervisors to identify strengths, weaknesses, and areas for improvement. 

We encourage all supervisors to explore this resource and its potential to drive positive change within the insurance landscape.

Trainings

Self-directed training

Supervision of climate-related risks in the insurance sector

Applying a gender lens to inclusive insurance

How to conduct a rapid gender diversity assessment

Index Insurance Training for All Stakeholders
 

Are you an insurance supervisor? Then join Connect.A2ii - our learning platform restricted to supervisors offering free and certified courses and an opportunity to learn from peers.

Useful Tools on Our Website

Inclusive Insurance Regulations Map

The interactive map incorporates data about existing inclusive insurance regulation and regulation which supports inclusive insurance sourced through A2ii's research, work and interaction with supervisory authorities worldwide. 

ICP Self-assessment Tool

The tool is intended to help supervisors assess the level of observance of the Insurance Core Principles (ICPs).

 Supervisory KPIs Lexicon

Interactive, searchable directory of KPIs for insurance supervisors across four pillars: prudential soundness, market conduct, insurance market development and the Sustainable Development Goals.

Insurance and the Sustainable Development Goals (SDGs)

The SDG pages include resources on the importance and the role of insurance across nine SDGs: 01 No Poverty, 10 Reduced Inequalities, 02 Zero Hunger, 03 Good Health and Well-being, 05 Gender Equality, 08 Decent Work and Economic Growth, 09 Industry Innovation and Infrastructure, 13 Climate Change and 17 Partnerships for the Goals.