The inclusive insurance sector has experienced persistent growth in client outreach and premium volumes over the past ten years. Today, nearly 300 million low-income citizens in developing countries are covered by an insurance policy. New technologies are boosting market coverage. In Asia alone, the number of people insured through mobile phones exceeds 40 million. Furthermore, the G7 has decided to insure 400 million people against climate risks by 2020. Nonetheless, many people are still without cover or alternative risk management options. With the global middle class expected to grow to nearly five billion within two decades, we are looking at billions of people who are without a formal safety net from insurance and hence at risk of falling (back) into poverty.
The need to respond to this situation by understanding the role of insurance for sustainable development and the management of climate risks, improving supply, heightening the awareness of insurance, creating the right regulatory framework and better understanding the particular needs of the low-income population is the main focus of the conference. Representatives from insurance and reinsurance companies, distribution channels, investment funds, international organizations, NGOs and development-aid agencies, as well as academics, policymakers and supervisory regulators, from around 50 countries will attend the conference. Attendees will exchange views on current growth trends and risks in emerging markets and discuss key factors for successful implementation and maximized business opportunities to bring supply and demand to the next level.
Structure and Objectives:
The conference will feature panel discussions on key topics addressing an interdisciplinary audience. Additional working group sessions will deal in depth with subtopics. Interactive sessions hosted by partner organizations of the event will be a key part of the conference, facilitating dialogue in small groups on emerging issues. Keynote speeches will look at the latest international, national and local insights.
Registration begins on 6 August 2019.
To achieve inclusive business growth and scale, companies not only need to have the right products, services and business model, but also the appropriate management practices. Base of the Pyramid (BoP) markets require the adaptation of traditional management practices or the development of new ones. The multinational corporations (MNCs) engaging in the BoP market are often faced with unfamiliar contexts, new kinds of customers and suppliers, thin and volatile operating margins, and long timeframes to scale and produce financial returns.
Based on the Business Call to Action’s recently launched report documenting the findings drawn from a decade of experience engaging with inclusive business globally, this live webinar will explore how innovative management practices tailored to the BoP market can provide competitive advantage, ensure a better understanding and responsiveness to stakeholders, and balance short-term stability with long-term viability. The panel of experts features companies who took part in the What Does It Take to Go Big report.
This event is part of the Inclusive Business Boost series funded by the UK Department for International Development.