Mass insurance and microinsurance both contribute to creating more inclusive insurance markets. They have certain differences and commonalities in terms of the channels used, the products offered and the clients served. For most clients of inclusive insurance markets, it is their first experience with insurance. Therefore effective consumer protection is required to help them understand and develop confidence in insurance. Clarifying the differences between mass insurance and microinsurance business models will improve their understanding of choices available to them, what the industry can learn from the respective models, and how supervisors can strike a balance between risk, industry incentives and consumer protection while lowering compliance burden.
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Informes y publicaciones, Educación financiera, América Latina y el Caribe | 2014
Mass and Microinsurance - Consumer Protection in Inclusive Insurance Markets 3rd Consultative Forum Report
Related Events
The 3rd IAIS-MIN-A2ii Consultative Forum took place back to back with the 10th Annual Microinsurance Conference in Mexico City on 11 November 2014.
Inclusive insurance markets are a challenge
“This is the third call I’ve participated on and I can say that in terms of the quality of the outputs and the conversations taking place between supervisors, it’s shown to be immensely beneficial and I think that’s consistent with the feedback that has been returned to the A2ii and IAIS from IAIS members.” These were the opening remarks made by IAIS Secretariat staff Conor Donaldson for the third Consultation Call held on 22 May.
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