Microinsurance Network’s First Meeting discussed Sector’s Challenges and Issues

Microfinance Focus, June 9, 2010: In its first meeting held in Königstein near Frankfurt, Germany, The Microinsurance Network brought together the expertise of more than 35 members from 23 organizations to work on the challenges and issues that the microinsurance field currently faces. Microinsurance Network is a network of donor organisations, multilateral agencies, insurance and social protection providers, policymakers and academics, all of whom are involved in microinsurance.

The event started with the Network’s topical Working Groups meeting individually to focus on their strategy, vision and current activities. The meetings were followed by reporting back plenary sessions by each Working Group to facilitate the identification of cross-cutting issues, topics that need to be addressed from different angles and concern more than one Working Group. The identified cross-cutting issues were client protection, social performance, impact, microinsurance and PPP (Public Private Partnership), climate change and the need for a microinsurance marketplace. The cross-cutting sessions provided a platform for members to discuss the issues with the clear objective of deciding on a specific course of action to be taken.

The session on client protection, for example, analysed the issue by identifying what has been done so far, determining what is missing, and formulating how the Network should address this issue.  The consensus was that the responsibility for client protection lies with all players involved at the different levels. To this end, members decided to set up a task force. One of its first activities will be to produce a concept note analysing the issues, challenges and policy options as a first step towards determining good practices and solutions for client protection.

The meeting ended with discussions about the Network’s strategy. Several break-out sessions examined what the Network has achieved so far, what issues should be addressed in the future. The event allowed the microinsurance community and experts to communicate with each other in person, a rare commodity these days. On another level, the event not only identified new issues that need to be addressed but also, proposed concrete plans on how the Network will tackle them. It illustrated the members’ commitment and determination to the Network’s mission of promoting the development of good-value insurance products for low-income populations.

Microinsurance Network Working Groups provide the forum for undertaking specific operational and technical activities within the Network and result in specific outputs. The current Working Groups of the Network are Agriculture Insurance, Capacity Building, Distribution, Health, Impact, Insurance Education, Performance Indicators, Regulation, Supervision and Policy, Social Protection and Technology.

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