A.M. Best Webinar Examining Microinsurance and its Impact on Global Markets

ICMIF Supporting Member, A.M. Best has organised a webinar to take place on Thursday 8 March at 14.00H, (Eastern Standard Time). Participants in the webinar will discuss microinsurance and its growth in popularity in emerging markets and how it can be a foothold for a company’s reputation in what is a growth market. A panel of experts will examine the current state of microinsurance including distribution, funding, regulation and potential further growth. You can register for the one hour event at www.ambest.com/webinars/micro12

Panelists for this webinar include:

• Andrea Keenan, Managing Senior Financial Analyst and Head of Country Risk, A.M. Best – Andrea heads a small team that provides critical support for the company’s analysts, who evaluate firms in the insurance and finance industries. Andrea contributed to A.M. Best’s Takaful Review Report published in April 2011.
• Michael J. McCord, President, MicroInsurance Centre – Michael has experience as controller of a US commercial bank, CEO of a MFI in Uganda, Regional Director for microfinance programs in Africa, and since 2000, is the Founder and President of the MicroInsurance Centre and has extensive knowledge on developing and managing microinsurance products.
• Rick Koven, Microinsurance Learning and Knowledge Project Manager: Business Case – Rick has 30 years of experience managing and consulting with insurance companies, health plans and self-funded programs. On an international level, Rick has worked with emerging microinsurance programs for over ten years with USAID, World Bank/CGAP, BMGF and others in India, Philippines, the Caribbean and elsewhere.

The panel will be joined by Sabbir Patel, Senior Vice President and Chief Financial Officer at ICMIF. Sabbir has a seat on the Microinsurance Network (a consortium of 29 bilateral and multilateral donor agencies) and is part of a task-force assigned to develop a set of microinsurance donor guidelines with the International Association of Insurance Supervisors (IAIS).

Sabbir highlights the importance of using the opportunities presented by the International Year of Cooperatives to “reiterate the value that the mutual and cooperative model can bring in providing access to insurance for the underserved populations around the globe.

Attendees can submit questions or comments at [email protected]. Questions and comments will be discussed before and during the live event. For those who are unable to join the webinar whilst it is live it will be available to listen to again on the A.M. Best website.

A.M. Best has also published a report this week on the topic of The Potential of Microinsurance  which discusses the challenges and potential benefits of microinsurance for insurers in the world’s emerging markets. Andrea Keenan, one of the webinar panelists was a contributor to this report and consulted ICMIF to learn more about the Latin American Reinsurance Group (LARG), a group of ICMIF members which purchase their reinsurance together. They are featured in the report in some detail; highlighting the benefits of both microinsurance and of collaboration.