Key Themes and Focus Areas
Themed "Innovation and Collaboration in Inclusive Insurance: Addressing Climate Risk, Leveraging Digital Solutions, and Breaking Barriers," ICII 2024 centered on advancing insurance solutions for underserved and vulnerable communities, especially in the face of growing climate challenges. This year's agenda featured 24 sessions, covering various aspects of inclusive insurance, from climate risk and resilience to digital innovation and public-private partnerships.
The conference emphasized three main areas:
1. Climate Risk Insurance: Sessions highlighted how climate risk insurance could protect low-income populations from natural disasters. Experts shared insights on scalable insurance models that offer resilience against climate-induced losses, underscoring the importance of accessible and affordable insurance in climate-vulnerable regions.
2. Digital Innovations in Microinsurance: Digital technology was a major focus, with discussions on how mobile technology, big data, and AI are transforming microinsurance. Participants explored case studies on how these digital advancements make insurance more accessible and affordable for underserved communities.
3. Overcoming Barriers to Scaling Inclusive Insurance: The conference addressed barriers like regulatory challenges, distribution hurdles, and consumer awareness. Discussions shed light on effective strategies for overcoming these obstacles and making inclusive insurance solutions both practical and impactful.
ICII 2024 concluded with a call to action, encouraging insurers, regulators, and development partners to work together toward building a sustainable inclusive insurance ecosystem.
This story is from the December 2024 edition of THE INSURANCE TIMES.
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This story is from the December 2024 edition of THE INSURANCE TIMES.
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"Bancassurance is at the heart of our growth strategy. It allows Bandhan Life to reach more customers and provide accessible, trusted insurance solutions through a familiar network."
About Indranil Dutta - Indranil Dutta brings 23 years of experience in insurance, banking, and sales, with a specialization in bancassurance. As the Chief Business Officer - Bancassurance at Bandhan Life Insurance, he leads the banca sales channel and plays a key role in driving the company's strategic vision of becoming a leading multi-channel life insurer with an expanded presence across product categories.
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International Conference on Inclusive Insurance (ICII) 2024
The 20th edition of the International Conference on Inclusive Insurance (ICII) concluded on a high note in Kathmandu, Nepal, after five days of insightful discussions, interactive workshops, and collaborative networking. Hosted by the Nepal Insurers' Association in partnership with the Life Insurance Association Nepal, Nepal Micro Insurance Association, Nepal Insurance Authority, Munich Re Foundation, and the Microinsurance Network, the conference brought together around 500 participants from around the globe. The Insurance Times was the media partner in the event.
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When you are single, you might focus on plans with basic coverage and low premiums. As you get married, look for family floater plans that cover your spouse. When you have children, ensure the plan covers pediatric care, vaccinations, and other child-specific healthcare needs.
My View on #20SIRC Conference
The participants include world top reinsurers, brokers, insurers, IT companies, Consultants, and Regulators. As a regulator from Nepal attending the (#20SIRC) was a unique thrilling experience that provided opportunities for learning, networking, and strategic development. Here's a detailed perspective that I had experienced during my visit to Singapore.
