Political Champions Partnership for Stimulating Insurance Penetration in Lower Income Countries
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Washington, DC
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After the last Champions’ meeting in
April, an expert-level group consisting of donors, insurers
and international financial institutions was formed to act
on the decision to undertake joint work to scale up disaster
risk insurance in lower income countries. Seven countries
were selected: Bangladesh, Ghana, Haiti, Kenya, Senegal,
Tanzania and Vietnam. The World Bank/Global Facility for
Disaster Reduction and Recovery (GDFRR) led in preparing
country scoping studies with inputs from the group. These
were summarized in a set of country notes. From the country
scoping studies, the expert-level group proposes that Kenya,
Bangladesh and Senegal are selected for the next phase. This
will involve confirming the interest and commitment of the
governments to engage in this initiative and undertaking
field visits to conduct more detailed, in-country assessment
to identify opportunities for scaling up insurance in
support of building resilience. Each assessment will result
in a recommended program of investment to stimulate
insurance scale up. This will include recommendations on how
to improve the coordination of existing efforts, how to fill
gaps (such as continued investment in market
infrastructure), how to scale up pilot initiatives and how
to better link insurance solutions to existing financial
products (such as credit) and social protection programs. By
early 2014, the assessments will be completed. By April
2014, the recommended program of investment for each country
will be presented to the donor and insurance community
involved in this Political Champions’ initiative for their
consideration and commitment of support.
Palabras clave
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