Regulatory challenges and supervisory demands in facilitating migrant insurance (SDG 1) – Public Dialogue

Thursday, September 29, 2022

Approximately 281 million migrants, nearly half of whom are women, live and work outside their home countries. Any unforeseen events affecting these migrants, such as death, sickness or job loss, negatively impact the financial stability of the recipient family, leading to an excessive debt trap, inequality and poverty. Insurance and pensions are essential safeguards for migrant families against such unforeseen events. Despite international conventions and the focus of the SDGs, less than 3 percent of migrants from low-income countries have access to portable social protection schemes that could address these issues, necessitating a comprehensive market-based approach toward migrant insurance.

However, there is still a regulatory grey area in terms of supervisors’ roles. What can supervisors do to facilitate insurance products targeted at migrants and their families? How can specific migrant needs be reflected? These and other questions will be addressed during this dialogue, exploring the existing regulatory challenges and possible pathways to explore the full potential of migrant insurance.

For this occasion, A2ii and IAIS are partnering with UNCDF.

William Price, UNCDF specialist on migrant financial resilience, will be presenting a set of priorities to achieve this ambitious agenda. This presentation will be followed by a panel discussion with Jeremy Leach, founder and Executive Director of Inlcusivity Solutions and Garance Wattez-Richard, Head of AXA Emerging Customers, as well as Brian Gale Sibuyan, Manager of the Regulation, Enforcement and Prosecution Division at the Insurance Commission of Philippines and Olga Fuentes, Head of Stategic Research & International Affairs Chilean Pension Regulator and Vice President of the International Organisation of Pension Supervisors

The dialogue will take place via Webex and is open to the public. It will start at 14:00 CEST and last 75 minutes, with simultaneous interpretation to French and Spanish.

If you have any questions on comments, please contact dialogues@a2ii.org.