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This section provides access to some of the most recent research in which Cenfri staff was involved.
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Update on microinsurance innovation in South Africa (2010) |
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South Africa has one of the most innovative insurance markets in the world. It is also considered one of the leading microinsurance jurisdictions. Commercial insurers have reached significant penetration in the low-income market, albeit largely through funeral and credit life insurance. The FinMark Trust therefore commissioned Cenfri to provide an update on innovative micoinsurance models and products and the broad lessons emanating from their innovation experiences. Cenfri produced a synthesis note, considers the cross-cutting lessons which can be drawn from the above four case studies’ successes and failures. Click here to download the synthesis note (PDF 1.63MB). |
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The role of the cell captives mechanism in developing the microinsurance landscape in South Africa (2010) |
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The cell captive insurance vehicle may be a convenient vehicle for providing insurance related services to the lower income market. It may also be a stepping stone for new entities wishing to enter the insurance market with the eventual goal of becoming a fully fledged insurer. Cenfri, on behalf of the FinMark Trust, commissioned Alchemy Consulting to to conduct a review of the cell captive mechanism and the potential role that it could play to support the development of the microinsurance market in South Africa. The objectives were: · - to set out the cell captive insurance mechanism currently used in the long and short term insurance industry in South Africa;
- to report on how cell captives are being used for the provision of low cost insurance solutions to the low-income market; ·
- to identify risks and opportunities for the future use of cell captives in the South African insurance landscape; ·
- to review the need for cell captive regulation and to serve as an information base to inform regulation.
Click here to download the document (PDF: 478KB) |
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With Finance Forward, Cenfri takes a wide-angle view of the forces shaping inclusive financial services in Africa. In this environmental scanning document, we present a snapshot of important ideas emerging in the business, economic, social, technological, physical and political spheres during the second quarter of 2010. Drawn from a robust stream of periodicals, Finance Forward encourages a broad awareness of the systemic and overlapping background forces shaping the future of inclusive financial services. Finance Forward identifies four major themes and follows them through several interconnected environments and issues Click here to download the full document (PDF, 2.7Mb). Author: Joel Carlman |
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Microinsurance policy imperatives - the evidence so far (Jul 2010) |
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Cenfri made a presentation on microinsurance policy imperatives at the Financial Stability Institute’s meeting on microinsurance in Basel (6-8 July 2010). The meeting was hosted in collaboration with the Access to Insurance Initiative (click here to read more) and attended by an audience of supervisors from 21 developing countries. The focus was on discussing the latest developments in microinsurance and particularly the implications for policy and regulation. Click here to download the presentation (PDF 236kb) |
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The thing about informality (Jul 2010) |
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Cenfri made a presentation on the issue of informal insurance markets at the Financial Stability Institute’s meeting on microinsurance in Basel (6-8 July 2010). The meeting was hosted in collaboration with the Access to Insurance Initiative (click here to read more) and attended by an audience of supervisors from 21 developing countries. The focus was on discussing the latest developments in microinsurance and particularly the implications for policy and regulation. To download the presentation click here. |
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Cenfri presentation: A2ii policy seminar (Dakar, Nov 2009) |
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Cenfri participated in a special Access to Insurance Initiative session for policymakers and regulators that was arranged back-to-back with the Munich Re Foundation Microinsurance Conference. Hennie Bester delivered a presentation entitled “Enabling policies for microinsurance market development in Africa” that can be downloaded here. |
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FSI meeting on microinsurance (Jul 2010) |
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Cenfri participated in the recent microinsurance meeting hosted by the Financial Stability Institute’s in Basel (6-8 July 2010). The meeting was hosted in collaboration with the Access to Insurance Initiative (A2ii) (click here to read more about the A2ii) and attended by an audience of supervisors from 21 developing countries. The focus was on discussing the latest developments in microinsurance and particularly the implications for policy and regulation. Click below to access Cenfri's presentations at this event: Innovations in the Product Design, Distribution and Servicing of Claims by Doubell Chamberlain: Click here to download presentation (PDF 582.27kb). Formalisation of Informal markets by Hennie Bester and Doubell Chamberlain: Click here to download presentation (PDF 267.97kb). From Country Evidence to Microinsurance Standards - policy imperatives by Hennie Bester: Click here to download presentation (PDF 235.89kb) |
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Rethinking intermediation (Jul 2010) |
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Cenfri made a presentation on insurance innovation at the Financial Stability Institute’s meeting on microinsurance in Basel (6-8 July 2010). The meeting was hosted in collaboration with the Access to Insurance Initiative (click here to read more) and attended by an audience of supervisors from 21 developing countries. The focus was on discussing the latest developments in microinsurance and particularly the implications for policy and regulation. To download the presentation click here |
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Microinsurance Zambia: Innovation Workshop (2010) |
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While it is a social protection tool that can reduce vulnerability among the poor, microinsurance also presents a viable business opportunity for insurers in developing countries. Innovative business models will be required to access this market in a sustainable manner and offer value to clients. In February 2010, Cenfri facilitated a workshop on innovation in microinsurance business models in Lusaka, Zambia. Click here to download the workshop presentation (PDF: 1.6MB) |
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Microinsurance in Brazil: Opportunities for market development (2009) |
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Cenfri has been commissioned by the Brazilian National School for Insurance (Funenseg) and the insurance industry association (CNSeg) to do a study to assess the current and potential microinsurance market in Brazil, the drivers of market development and the opportunities and challenges for microinsurance expansion. This study will serve as input to the microinsurance consultative commission– a joint process between the regulator, other government departments and private sector to work towards a microinsurance regulatory framework. It will also provide inputs on regulatory and industry strategy going forward, including recommendations to SUSEP, the insurance supervisor, on the nature of a possible microinsurance regulatory framework. The preliminary results of the analysis were presented at a stakeholder workshop in Rio de Janeiro on 2 December 2009 . Click here to download the presentation (PDF: 873KB) Click here to download final report (PDF: 2.8MB) |
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Making insurance markets work for the poor (2009): Thematic Focus notes (English, French, Portuguese and Spanish) |
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To support the development of microinsurance markets a project was launched under the auspices of the International association of Insurance Supervisors (IAIS)-Microinsurance Network (MIN) Joint Working Group on Microinsurance (JWGMII) aimed at mapping the experience of five developing countries – Colombia, India, the Philippines, South Africa and Uganda – wheremicroinsurance markets have evolved in varying degrees. The objective was to assess how much regulation has affected the evolution of these markets and gain insights which can guide policy-makers, regulators and supervisors looking to support the development of microinsurance in their jurisdiction. To disseminate the findings of this project, a number of focus notes have been written to highlight key themes that emerged from the research. |
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Cenfri Presentation: Munich Re Foundation Microinsurance Conference (Dakar, 2009) |
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Cenfri participated in the Munich Re Foundation and Microinsurance Network 5th International Microinsurance Conference held in Dakar, Senegal, in November 2009. In the final plenary, Doubell Chamberlain presented on microinsurance distribution innovation internationally and the implications for policymakers and regulators. His presentation, titled “Notes from the distribution frontier” can be downloaded here. The conference summary report can be accessed here. |
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Microinsurance on supervisor’ agenda |
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Microinsurance is becoming an increasingly important item on the agenda of supervisors globally.
The 16th Annual IAIS conference was held in Rio de Janeiro, Brazil from 21 – 24 October 2009. Emerging markets make up the bulk of the IAIS membership and have been catalytic in placing the issues of developing countries on the agenda of the IAIS. Demonstrating the growing importance of microinsurance and market development to the membership of the IAIS, the theme of this conference was “Insurance as a Means of Socio Economic Development” and the opening plenary was dedicated to the topic of microinsurance. Presentations were made by Cenfri, the Insurance Regulatory and Development Authority of India and Fasecolda (the Colombian insurance industry association). Click here for Cenfri's presentation on: Increasing access to insurance (PDF: 361KB) |
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Access to Insurance Initiative (A2ii) Launch (Rio, 2009) |
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The groundbreaking A2ii was launched at the annual International Association of Insurance Supervisors (IAIS) conference in Rio de Janeiro on 22 October 2009.  Cenfri, as the manager of the microinsurance theme area for Finmark Trust, has played a key role in catalysing the Access to Insurance Initiative. The Cenfri team managed and supported the delivery of five country studies and developed the synthesis analysis that has formed the basis and motivation for the setting up of the A2ii. Click here to download the official media release (PDF:182.09KB) Click here to download A2II factsheet (PDF:1.13MB) Click here to download the presentation Cenfri made on microinsurance at the opening plenary of the IAIS conference |
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Making health insurance work for the low-income market in South Africa (2009) |
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This study, conducted by Elixir Business Consulting and Fifth Quandrant, was funded by the Finmark Trust and managed by the Centre for Financial Regulation and Inclusion (Cenfri). The final report presents the findings and conclusions of a study that identifies the main drivers of health insurance costs in South Africa, as well as strategies that can be used to reduce these costs, to support the inclusion of low-income earners. Click here to download final report (PDF: 2.35MB) Click here to download media release (PDF: 371KB) Click here to view a Mail&Guardian article based on this study (PDF:120.2KB) |
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Publications
