IAIS Conference 2017, 02 - 03 November 2017

The Conference focused on the following topics:

• The global supervisory landscape - Future of the IAIS and the global supervisory landscape given current and emerging trends, risks and opportunities within the insurance sector were discussed. The role of the IAIS and of individual supervisors in ushering and managing change were also brought up. Moreover, the factors which are most likely to influence the nature, role and independence of insurance supervisors, as well as, the landscape of the insurance sector in 2025 were analysed;
• Financial Education - the ways of promoting financial education for insurance consumers, including through the use of social media and web-based applications, as well as, the enlisting of active participation of insurers were discussed. The different approaches adopted in selected jurisdictions, lesson learnt and the role of the supervisor were also looked at;
• The IAIS major projects - updates on key IAIS initiatives such as the ComFrame, macroprudential supervision, systemic risk assessment, Insurance Core Principles (ICPs) were provided. The implementation of the above mentioned was also discussed;
• InsurTech - the different ways through which insurers are exploiting technologies to manage or identify risks or conduct underwriting, and whether or not the regulatory and supervisory reach is adequate to manage the impact of digitalisation on insurer business models were discussed;
• Insurance Accessibility - the experiences in addressing the challenge of increasing access to insurance, covering both traditional insurance products, as well as, more specific types of insurance such as takaful and agricultural insurance were shared. Also, a key focus was on the important role regulators can play in facilitating the success and some of the main challenges that remain.