Microinsurance Conference 2007

13–15 November 2007 - Hyatt Regency Mumbai, Sahar Airport Road, Mumbai, India

Conference agenda / conference documents

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General information

From 13 to 15 November 2007, the Microinsurance Conference 2007 took place in Mumbai, India. This event was the third international Microinsurance Conference and jointly hosted by the CGAP [Consultative Group to Assist the Poor] Working Group on Microinsurance and the Munich Re Foundation with the support of the IRDA.

There are many challenges in providing microinsurance. Low-income persons are vulnerable to risks, but so far insurance has been accessible only to a few, often through informal or mutual schemes. In most countries, commercial insurers have largely stayed away from the low-income market, mainly because of high costs and small premiums. Yet that is beginning to change, as new cost-effective models are emerging to extend insurance to the poor.

Target audience

Around 300 experts from 50 countries exchanged experiences and discussed the challenges of microinsurance. They included representatives from international organisations, NGOs, development-aid agencies, commercial insurance companies and policymakers.

Structure and goal of the conference

The conference had four panel discussions on key topics addressing an interdisciplinary audience. Fiveteen parallel working group sessions dealt in depth with different subtopics. Interactive sessions of approximately 90 minutes were the key part of the conference, encouraging the discussion of work in progress and facilitating dialogue in small groups on emerging issues.

Themes

1) Regulation, supervision and policy issues, such as:

• Key regulatory framework challenges and barriers to access
• Different regulatory approach models that facilitate access and ensuresustainability (country examples)
• Microinsurance regulation as a tool to meet policy objectives

2) Improving efficiency and enhancing benefits, such as:

• Efforts to lower administrative expenses (including use of technology)
• Market research, consumer education and client satisfaction
• Mutually beneficial partnerships

3) Innovative microinsurance products, such as:

• Microinsurance coverage for agricultural losses
• Successful property insurance policies
• Microinsurance for disasters

4) Group versus individual products: a comparison of:

• Marketing methods and underwriting standards
• Price and benefits
• The circumstances under which each is most appropriate
• Other advantages and disadvantages

Dates to remember