Regulatory Framework Promotion of Pro-poor Insurance Markets in Asia (RFPI Asia)

RFPI Asia is the secretariat of the MEFIN Network since its inception on May 2013. It is a regional program funded by the German Federal Ministry for Economic Cooperation and Development (BMZ) and implemented by Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH.

RFPI Asia is currently on its third phase of funding with a 4-year implementation period from January 2019 to December 2022. The goal of phase 3 is the promotion of climate risk insurance (CRI) in three Southeast Asian countries of Indonesia, Philippines and Vietnam targeting the extremely poor, poor, at-risk people and micro and small enterprises.

RFPI Asia is guided by the following success factors of its implementation

▪ USE INSURANCE: To meet the needs of the target group and secure development goals, insurance approaches for the poor should address the most pressing needs – uncertainty to livelihoods, food security and development aspirations – that get in the way of opportunities to reduce poverty.

▪ PARTICIPATORY APPROACH: Successful insurance schemes are based on the effective involvement of all relevant actors, providing the basis for a meaningful long-term partnership. Target group ownership is essential for effective use of insurance as a risk management tool.

▪ CAPACITY BUILDING: Reaching poor and vulnerable people with climate risk insurance requires significant capacity building measures, often involving actors not yet familiar with the tools or principles of insurance.

▪ SUSTAINABILITY AND VIABILITY: To effectively chart climate resilient pathways, activities need to be sustainable and viable, both in economic and social terms. Applying risk adequate premiums are one of the central elements for ensuring the viability of approaches and incentivisation of risk reduction measures.

During its first phase of implementation (2013-2015), RFPI Asia focused on the improvement of the regulatory and supervisory preconditions for effective insurance protection of low-income population in the region. In its second phase (2016-2018), emphasis was given to the development of business models and the implementation of regulatory framework and supervision practices for the promotion of inclusive insurance markets.

Quarter Report

Report • 2019

RFPI Asia III 4th Quarter Report

With the operational groundwork for RFPI Asia III established in the 3rd quarter of the year, activities in the last quarter were primarily the important stepping stones which would eventually pave the way for the achievement of its over-all goal of “The strategic and technical prerequisites for high-quality climate risk insurance for the poor, the extremely poor, and most at-risk people have been created”.

Report • 2019

RFPI Asia III 3rd Quarter Report

The 3rd quarter of 2019 saw the operationalization of RFPI Asia III gather more momentum given the developments in the 2 countries it operates in. In the Philippines, the 2nd National Task Force (NTF) and Technical Working Groups (TWGs) Meeting last August saw the formal approval of its Work Program, thus paving the way for the TWGs to already pursue the activities they had planned for the year.

Report • 2019

RFPI Asia III 2nd Quarter Report

After the successful Operational Planning Workshops last February in Manila and Hanoi, the Regulatory Framework Promotion of Pro-Poor Insurance in Asia Phase III (RFPI Asia III) program further geared to develop its framework and work plan for implementing projects and activities that will contribute to the realization of the over-all goal of “ The strategic and technical prerequisites of high-quality climate risk insurance for extremely poor, poor and at-risk people have been created”.

Report • 2019

RFPI Asia III Inception Report 1st Quarter

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