IAIS - A2ii - CIMA

Mobile Insurance Conference

23-24 February 2017 Douala, Cameroon

PROGRAMME BOOK

Supported by:

Ministry of Finance Cameroon

Programme Guide

Welcome Ladies and Gentlemen,

It is our pleasure to welcome you to the IAIS-A2ii-CIMA Mobile Insurance Conference, which is jointly organised by the International Association of Insurance Supervisors (IAIS), the Access to Insurance Initiative (A2ii) and the Inter-African Conference on Insurance Markets (CIMA). We are delighted to be in Douala and extend our appreciation to Cameroon’s authorities for hosting this special event.

Digital technologies, including mobile phones, have experienced rapid growth in recent years with a significant impact on the access to insurance through mobile insurance. As regulators and supervisors grapple with the ever-changing technological landscape, how can they stay ahead of the game? In response to requests from supervisory authorities from across the continent and also from other regions, this conference is a first-hand opportunity for all participants to share their experiences on the topic of mobile insurance. It will allow participants to learn about and discuss rising trends in the use of digital technologies for inclusive insurance, prudential and market conduct risks arising from mobile insurance and to discuss key regulatory considerations.

The theme of this conference is a very timely one. Many jurisdictions are considering taking steps to regulate mobile insurance. CIMA, the regional insurance regulatory body in Central and West Africa, plans to publish regulations on mobile microinsurance and digital insurance. In light of the unique challenges that digital technologies pose to insurance supervisors, the IAIS has established a drafting group on digital technologies in inclusive insurance to work on an application paper which will support the work of insurance supervisors. Together with its implementation partner A2ii, the IAIS is committed to inspire and support supervisors to promote inclusive and responsible insurance.

With this in mind, we are looking forward to a fruitful exchange of ideas and perspectives. We would like to express our sincere gratitude to our moderators and panelists, all participants, and particularly our Cameroonian host and our supporters – BMZ, DGIS, UK Aid, FSD Africa and Munich Re Foundation – for contributing their resources to this endeavour.

Yoshihiro KawaiInternational Association of Insurance Supervisors (IAIS)

Hannah GrantAccess to Insurance Initiative (A2ii)

Issofa Nchare Inter-African Conference on Insurance Markets (CIMA)

Programme

Time Day 1: Thursday, February 23, 2017 (Master of ceremony: Hannah Grant, A2ii)

7.30 – 9.00 Registration

9.00 – 10.30 Opening Ceremony

Welcome remarks

• Hannah Grant, Access to Insurance Initiative (A2ii)

• Issofa Ncharé, CIMA

• Alamine Ousmane Mey, Minister of Finance, Camerooon (tbc)

Presentation: Mobile Insurance and beyond: how digital technology is shaping inclusive insurance (Doubell Chamberlain, Cenfri)

The application of technology to financial services is changing the world as we know it. This session will explore the rising trends in digital technology in insurance to highlight key opportunities and emerging issues.

10.30 – 11.00 Coffee break

11.00 – 12.30 Roundtable: The value and risks of mobile insurance: the customer’s perspective (moderator: Jeremy Leach, Inclusivity Solutions)

At the core of insurance provision is the client and their need for protection from risk. Supervisors from Tanzania and Ghana will share their insights on the value and issues of mobile insurance to low-income customers.

Panellists:

• Anna Abayo, Tanzania Insurance Regulatory Authority (TIRA)

• Michael Kofi Andoh, National Insurance Commission (NIC) Ghana

12.30 – 13.30 Lunch

Registration opens on Wednesday, 22 February 2017, 17.00 - 20.00

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13.30 – 14.30 Regulating mobile insurance: Key considerations(moderator: Craig Thorburn, World Bank)

This session will present an overview of the different approaches to regulating mobile microinsurance across different jurisdictions. These approaches will then be explored with a panel of regulators to reflect on their country experience.

Presentation: Stefanie Zinsmeyer, A2ii

Discussants:

• Michael Kofi Andoh, National Insurance Commission (NIC) Ghana

• Alain Fangman Ouattara, CIMA

• Tendani Mathobo, Financial Services Board (FSB), South Africa

14:30 – 15:00 Coffee break

15:00 – 16:30 Delivery of m-insurance: Roundtable with the industry (moderator: Dirk Reinhard, Munich Re Foundation)

Navigating regulatory compliance through the innovation process holds both opportunities and challenges. Learn from the industry about the impact of different regulatory approaches on their ability and willingness to provide microinsurance through mobile platforms.

Panellists:

• Saliou Bakayoko, CEO Sunu Insurance and representative of Federation of African National Insurance Companies (FANAF), Ivory Coast

• M. Mamadou Kone, Allianz Ivory Coast

• Fatola Oyekola, Orange Ivory Coast

• Richard Leftley, MicroEnsure

16.30 – 18.00 Parallel break-out sessions: How is a mobile insurance framework constructed? Practical considerations from the field

1. CIMA’s plans towards mobile insurance regulation (moderator: Peter Wrede, World Bank)

• Presentation: Mr. Alain Fangman Ouattara, CIMA

2. Ghana’s regulatory approach (moderator: Craig Thorburn, World Bank)

• Presentation: Mr. Kofi Andoh, National Insurance Commission (NIC), Ghana

3. Accommodating m-insurance in the broader regulatory framework (moderator: Jeremy Leach, Inclusivity Solutions)

• Presentation: Nontokozo Magasela, FSB South Africa

19.00 Gala dinner

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Time Day 2: Friday, February 24, 2017

9.00 – 10.00 Recap of Day 1 and objectives for Day 2

(Master of ceremony: Hannah Grant, A2ii)

Presentation: Emerging application guidance by the IAIS (Luc Noubissi, CIMA and Chair of the IAIS FIWG Drafting Group on Digital Technologies in Inclusive Insurance)

10.00 – 10.30 Coffee break

10.30 – 12.00 Parallel break-out sessions: facilitating innovation

1. New players in the value chain: the role of MNOs and Technical Service Providers and options for regulation (moderator: Michael McCord, Microinsurance Centre)

Panellists:

• Michael Kofi Andoh, National Insurance Commission (NIC) Ghana

• Joseph Owuor, John M. Njoroge, Insurance Regulatory Authority (IRA), Kenya

• Danielle Treharne, BIMA

• Richard Leftley, MicroEnsure

• Christabel Banda, Insurers Association of Zambia (IAZ)

2. Cooperation to oversee innovation: cooperation with the Central Bank and the Telecommunication Regulator and implications for the regulatory design (moderator: Doubell Chamberlain, Cenfri)

3. How is digital technology beyond mobile insurance changing the insurance landscape? Implications for regulators and supervisors: overview of the application of digital technology across the insurance value chain and risk and regulatory considerations arising (moderators: Peter Wrede, World Bank and Cat Denoon-Stevens, Cenfri)

Presentation: Peter Wrede, World Bank

12.00 – 13.00 Lunch

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13.00 – 14.30 Parallel break-out sessions: protecting consumers

1. Consumer Education: Learn about options for empowering consumers through the m-insurance engagement process (moderator: Peter Wrede, World Bank)

Presentations:

• Miguel Solana, ILO

• Michael Mbaka, FSD Kenya (tbc)

• Joseph Owuor, John M. Njoroge, Insurance Regulatory Authority (IRA), Kenya

2. Managing the risk of wind-down: Draw lessons from the collapse of m-insurance schemes and and sharing experiences about what supervisors can do to plan for such an eventuality (moderator: Jeremy Leach, Inclusivity Solutions)

Presentations:

• Jeremy Leach, Inclusivity Solutions

• Munyaradzi Machinjika, Insurance and Pensions Commission (IPEC), Zimbabwe

14.30 –15.00 Coffee break

15.00 – 16:00 “Ask the expert session”: ask your question around the regulation of mobile insurance (moderator: Janice Angove, A2ii Regional Coordinator)

Curious about m-insurance business models? Considering regulating m-insurance? Want to explore a change in direction? This will be the opportunity to get answers from key experts. Please send your questions in advance to: stefanie.zinsmeyer@giz.de.

16.00 – 16.30 Closing

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Anna Abdiel Abayo, Senior Insurance Officer at the Tanzania Insurance Regulatory Authority

A trained lawyer from the University of Dar es Salaam. An advocate of the High Court and Court of Appeal Tanzania. Has an MBA- International Business from IIFT. A qualified insurance Technician by the Chartered Insurance institute-UK and currently pursuing LL.M at the University of Dar es Salaam. Serving as a Senior Insurance Officer at the Tanzania Insurance Regulatory Authority ( TIRA) for almost 8years. Currently working with CGAP in mobile offered insurance- consumer protection.

Michael Kofi Andoh, Head of the Supervision Department of the National Insurance Commission, Ghana

Michael has been involved in a number of projects to develop the insurance market and improve access to insurance in Ghana. He has also played a leading role in the design and implementation of Ghana’s microinsurance regime. Andoh holds a BSc in Business Administration from the University of Ghana Business School, and an MBA from the University of Leicester in the United Kingdom. He is also a Fellow of the Certified Chartered Accountants, (FCCA) and an Associate of the Chartered Insurance Institute (ACII) in the United Kingdom.

Doubell Chamberlain, Founder and Managing Director, Cenfri; Theme Manager, FinMark Trust

Doubell works on the themes of microinsurance and retail payment systems. He is a development economist by training, specialising in financial inclusion innovation, financial sector policy and regulatory strategy for development, access to financial services and supporting governments on making markets work for the poor. Doubell has extensive experience in microinsurance, AML/CFT, distribution of financial services, optimal regulation for market development and has worked across the developing world including Africa (Botswana, Ethiopia, Kenya, Lesotho, Mozambique, Namibia, South Africa, Swaziland, Uganda, Zambia), Latin America (Brazil, Colombia, Mexico), South and Southeast Asia (India, Pakistan, Indonesia). Previously he was employed as a freelance consultant to the FinMark Trust and an engagement manager at Genesis Analytics.

Hannah Grant, Head of the Secretariat, Access to Insurance Initiative (A2ii)

As the Head of the Secretariat, Hannah oversees the day-to-day management of the activities of the Initiative. Before joining the A2ii, Hannah worked at Insurance Europe in Brussels as Head of International Affairs and Reinsurance whilst also running the Secretariat for the recently established Global Federation of Insurance Associations. After graduating from Edinburgh university, Hannah started out her career working for Lloyds of London in London.

Speakers

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Mamadou Kone, CEO, Allianz Côte d’Ivoire Life Insurance

As the CEO of Allianz, Mamadou supervises and coordinates all commercial, technical, administrative, financial and accounting activities of the company. He is also in charge of implementing new contract concepts, alternative distribution channels and strategic business development plans. He is also an adviser on prudential regulation of the Allianz Africa group, a member of the CIMA Committee Experts, a member of the Executive Board of FANAF, a former Chief Controller at CIMA (Libreville) and a graduate of Actuarial-Finance. 

Jeremy Leach, Founder & CEO, Inclusivity Solutions

Jeremy is recognised as a global expert in mobile financial services with a particular expertise in microinsurance and digital insurance. An experienced executive, Jeremy has been a Director at BFA, a global consultancy focused on innovation in responsible financial services, Divisional Director and Head of Microinsurance at the Hollard Insurance Group and Executive Director at FinMark Trust where his leadership on insurance and mobile money had global impact. He is a founding member and adviser to Cenfri, and a member of the IAIS-Micro Insurance Network Joint Working Group on Micro-insurance and has served on the South African Short Term Insurance Advisory Committee at the behest of the Minister of Finance. 

Richard Leftley, CEO, MicroEnsure

Richard started working on microinsurance in January 2002 when he joined Opportunity International a leading microfinance provider from Benfield Greig (now Aon Benfield), a global reinsurance intermediary. Richard pioneered the introduction of insurance products within the Opportunity Network which lead to the establishment of MicroEnsure in 2006. In October 2007, MicroEnsure was awarded a $24.3m grant from the Bill and Melinda Gates Foundation to expand its pioneering microinsurance and experiment with a wider range of distribution channels. Richard is a member of the ILO MicroInsurance Innovation Fund steering committee & Micro Insurance Network Board.

Nontokozo Magasela, Specialist Analyst, Microinsurance Supervision Department, Financial Services Board, South Africa

Nontokozo is part of the team responsible for the market conduct supervision of registered insurance companies and for the implementation and supervision of the proposed Microinsurance legislation in South Africa. Prior to this, she worked for Liberty as a broker consultant and at Old Mutual as a personal financial planner. She is also an admitted attorney of the High Court of South Africa.

Tendani Mathobo, Specialist in the Insurance Regulatory Framework Department of the Financial Services Board, South Africa

Prior to joining the Financial Services Board, Tendani worked for the South African National Treasury (Ministry of Finance) as a Senior Economist responsible for amongst others developing financial inclusion policies as well as monitoring and measuring the state of financial inclusion in South Africa.

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Michael J. McCord, Founder and President, MicroInsurance Centre

Michael specialises in microinsurance research, advocacy and development of products and processes that meet the unique needs of low-income clients and has worked in over 75 countries worldwide.  He has also written extensively on the topic, authoring numerous microinsurance case studies, research reports and manuals, and has provided microinsurance training to thousands of people across the globe.

Luc Noubissi, Senior Insurance Specialist, CIMA

Luc has more than 15 years of experience with senior positions in Banking and Insurance. His current duties include the coordination of the World Bank / FIRST Initiative project, seeking to improve insurance supervision and increase insurance penetration in the CIMA region on a sound basis of competition, efficiency and inclusiveness. Luc is an active member of the IAIS FIWG (Financial Inclusion Working Group), and Chair the IAIS FIWG Drafting Group on the Use of Digital Technology in Inclusive Insurance.

Dirk Reinhard, Vice-Chairman, Munich Re Foundation

Dirk is responsible for the Munich Re Foundation’s finances as well as the microinsurance programme including the publications “Protecting the Poor – A microinsurance compendium Vol I and II” and the publication series “The Landscape of Microinsurance in Africa”. From 2008-2014, Reinhard was elected as a member of the board of the Microinsurance Network. Since the first International Microinsurance Conference (IMC) in 2005, Reinhard chairs the Conference Steering Committee. He also worked for oekom research AG as a sustainability analyst in the period from 1995 to 2000. From 2001 to 2004, he was responsible for sustainable investment in the Environmental Management Unit of Munich Reinsurance Company.

Miguel Solana, Technical Officer, ILO Impact Insurance Facility

Miguel has lead ILO’s insurance innovation work in Latin America and West Africa, and works on market development initiatives where he deals with consumer protection and financial education. He supports the Facility by providing technical expertise on insurance for climate change and alternative distribution models. He has extensive experience in a wide set of financial services. He has worked in capital markets at Deutsche Bank in Mexico City and Dresdner Kleinwort in Frankfurt and has also worked for Symbiotics SA in Geneva finding solutions for investors in the microfinance industry.

Cat Denoon Stevens, Senior Research Associate, Cenfri

Cat's applied research work has focused on building access to inclusive insurance markets, specifically the harmonization of insurance regulation within Southern African Development Community region; innovative financial services distribution models; and financial inclusion market diagnostic studies in Southern Africa and South Asia. She manages Cenfri’s capacity building portfolio, coordinating open-enrolment and in-house executive education trainings in microinsurance and national payment systems, and is the programme manager for the Risk, Remittance and Integrity (RRI) programme on behalf of FSD Africa – a UK aid trust.

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Craig Thorburn, Lead Insurance Specialist at the World Bank

Since joining the World Bank in 2002, Craig has provided technical assistance, published research, and managed projects that enhance insurance market development, regulation and supervisory capacity. His projects have covered all regions and include both small and large markets at various stages of development. He leads the World Bank representation on a number of International Association of Insurance Supervisors (IAIS) key standard setting and implementation support committees including both technical and financial inclusion issues.

Danielle Treharne, Business Development Manager for Africa   Danielle is responsible for defining and executing our expansion strategy across Africa. Her expertise lies in understanding the trends and consumers that will drive Digital Financial Services across the continent. Before joining BIMA, Danielle built and managed the largest UK government-funded private sector reform project in the Democratic Republic of Congo. Previous to this, she worked for Javelin Group, gaining strong experience in consumer-facing and technologically innovative markets. Danielle brings additional experience from her five years volunteering for Kiva.org microfinance.

Peter Wrede, Senior Insurance Specialist, World Bank

Peter, a German actuary in Finance & Markets Global Practice in the World Bank, has been working in insurance and reinsurance since 1990. His technical and leadership roles at German and international insurers and reinsurers included product design, pricing, reserving and marketing, consulting, regulatory compliance, risk management, underwriting policy, global reporting, and Islamic insurance. In 2007, Peter left commercial insurance and joined an international microfinance institution to develop microinsurance in Africa and Asia. He continued that work at the International Labour Organization prior to joining the World Bank in 2012. In addition to participating in various FSAPs, his work at the World Bank has centered on inclusive insurance, agriculture insurance and supportive regulatory regimes.

Stefanie Zinsmeyer, Advisor, Access to Insurance Initiative (A2ii)

Stefanie is leading A2ii’s work on mobile insurance and digital technologies. She is a member of the IAIS Drafting Group on Digital Technologies in Inclusive Insurance. She is also responsible for A2ii’s engagement with the G20 agenda/policymakers and funders. Stefanie has 10 years of experience in international development cooperation. She has worked for GIZ in the areas of private sector and financial systems development. Stefanie was also seconded to Germany’s Development Ministry BMZ as advisor to the Africa Personal Representative, where she supported negotiations with African, G8 and G20 partners. She holds a Master’s degree in Business Economics and is currently finalizing her MBA.

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Feedback Form

What kind of organisation do you represent?

Insurance Supervisory Authority Policymaker or other regulator or supervisor Industry (Company, Industry Association, Technical Service Provider, Other Intermediaries) Donor or Development Agency Consultant Other

1. What did you like about the conference? Which sessions or speakers did you like?

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2. Please use the following scale to respond to each of the following questions

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1. The topic of the conference was relevant.

2. The length of the conference was appropriate.

3. The content of the conference was of high quality.

4. The time allocated for questions & answers after the

presentations and discussions was adequate.

5. You were able to learn something new that will be useful for

your work.

6. The right participants took part in the conference.

7. The conference met your expectations.

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3. What could have been improved?

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Notes

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#mobileinsurance #MIC2017

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