13 December 2016, Issue 01


A Newsletter on Inclusive Insurance

In this issue:

  • What is MEFIN network? What are its activities?
  • What are the latest updates on inclusive insurance in Asia? New studies? Good practices?
  • Who can join MEFIN? What benefits MEFIN offers? How to join MEFIN?

Don’t you know...

That on 16 May 2013, a peer network of insurance regulatory authorities in Asia established as a platform for an effective and efficient exchange of relevant knowledge and best practices on inclusive insurance?

That Mutual Exchange Forum on Inclusive Insurance (MEFIN) Network which was formalized on 19 January 2016, also accepts insurers, reinsurers, intermediaries, training institutions, insurance-related industry associations as members and aims for a strong presence in the microinsurance industry in Asia? To know more about the MEFIN Network, please visit MEFIN website.

Industry News

ACA offers microinsurance and micro investment package through the network of Pegadaian Indonesia pawnshops nationwide. Factsheet on this business model will be released before yearend.

Ulaanbaatar City Insurance UBCI, supported the GIZ RFPI Asia II Project , in conducting a focus group discussion in October 2016 to understand the risks faced by ger areas, whether life, health or properties, and risk protection practices to be able to make recommendations to insurance regulators on appropriate enabling policies and to insurance companies to come up with ger-specific risk protection products. Expect new microinsurance products from UBCI next year.

Beema Samiti hosted a microinsurance panel session during the South Asian Association for Regional Cooperation (SAARC) Conference held on 13 to 16 May 2016 at Kathmandu, Nepal. For more info, visit SAARC website.

SECP conducted a Public- Private Dialogue on 30th - 31st August, 2016 to consult with various public and private stakeholders engaged in Microinsurance/Inclusive Insurance. For more info, check out news section of MEFIN website.

Insurance Commission organized an orientation on MicroHealth on 24 Nov 2016 to promote stronger Health Services for the Poor in the Philippines . Read factsheet on MicroHealth business models at MEFIN website.

MEFIN Network, with GIZ RFPI Asia II and SME TAC Hanoi, brings training on disaster risk insurance in Hanoi, Vietnam on 07 to 08 December 2016. To read more... For news in Tieng Viet, click here.

A2ii publishes “Proportionate Regulatory Framework in Inclusive Insurance: Lessons from a Decade of Microinsurance Regulation”. To read more, visit A2ii.

“MEFIN is a passion for us and being a member, it helps me reach my aspirations as an insurance regulator. It paves the way for insurance stakeholders to get together and learn from each other. Our engagement is better, participative and wonderful.”

Tariq Bakhtawar Director—Insurance, Securities and Exchange Commission of Pakistan

Updates for MEFIN Members

MEFIN secretariat conducted an independent assessment among its member jurisdictions on regulation and supervision supporting inclusive insurance markets from April to July 2016. The Aggregate Report on Self-Assessment and Peer Review, which summarizes the SA results from individual assessment per country and feedback of the assessed country, has been forwarded to the IAIS and also available at the MEFIN Website for exclusive access of members. Please visit MEFIN website members only page.