Page 70 - The Insurance Times December 2024

Actuarial Principles in Microinsurance: Romain de UNEP FI-V20 Sustainable Insurance Facility's approach
Harlez elaborated on how actuarial principles can en- to climate risk, emphasizing the role of climate-smart
sure sustainable pricing for microinsurance products, insurance in building resilience among MSMEs.
addressing the high-risk profiles of low-income popula- Insights from V20 Countries: Rafkat Kabir and Yannick
tions.
Milev shared experiences from Bangladesh and Cam-
Toolkit Applications: Amir Hassan provided a step-by- bodia, highlighting how climate-resilient credit portfo-
step walkthrough of how to apply the toolkit in differ- lios have protected MSMEs from financial losses due to
ent market conditions, stressing the importance of con- climate events.
textual adjustments based on local health and income Practical Applications for MSMEs: Uthpala Thilini
data. Gunawardana provided case studies from Sri Lanka,
Audience Interaction and Q&A: The workshop facili- where regional banks integrate climate risk insurance
tated a Q&A session where participants discussed the to secure the financial stability of MSMEs.
challenges of pricing in underserved markets, and ex-
Collaborative Implementation: Brandon Mathews fa-
plored how the toolkit could support their organizations cilitated discussions on the importance of collaboration
in developing affordable insurance offerings. between insurers, governments, and MSMEs to scale
these solutions effectively.
Attendees left with a comprehensive understanding of the
toolkit's applications, equipping them with practical tools to This session showcased actionable strategies for integrat-
support sustainable and inclusive insurance pricing.
ing climate risk insurance into MSME financing, providing
attendees with models that can be adapted to their own
Workshop 3: Landscape of Climate Risk In- markets.
surance Solutions for MSMEs in V20 Coun-

tries Workshop 4: 19th A2ii Consultative Forum
- Enhancing Data-Driven Insurance Super-
Hosted by: United Nations Environment
Programme (UNEP) vision

Speakers: Hosted by: Access to Insurance Initiative (A2ii)
Manoj Pandey, APAC Coordinator, UNEP FI-V20 Sustain- and International Association of Insurance Super-
able Insurance Facility, Switzerland visors (IAIS)
Rafkat Kabir, Lead, Strategy & Implementation
(MSME) - Microfinance, BRAC, Bangladesh The 19th A2ii Consultative Forum brought together inter-
national experts to explore the role of data-driven insurance
Yannick Milev, CEO, Chameroun MFI, Cambodia supervision. The forum was structured into three sessions:
Uthpala Thilini Gunawardana, Deputy Manager Session 1: Foundations of Data-Driven Supervision
Sustainability Unit, Regional Development Bank, Sri
Lanka Speakers:
Gabriel Porto, General Coordinator of Economic Stud-
Ny Lyhoung, Business Unit Head/CEO, Micro & Agri-
culture Insurance, Forte, Cambodia ies, SUSEP, Brazil
Barbara Chesire, Managing Director, AB Entheos Ltd.,
Facilitator: Brandon Mathews, Global Coordinator, UNEP Kenya
FI-V20 Sustainable Insurance Facility, Switzerland.
Facilitator: Matthias Range, Executive Director, A2ii, Ger-
This workshop offered insights into the landscape of climate many
risk insurance solutions for Micro, Small, and Medium En-
terprises (MSMEs) in V20 countries, which are highly vulner- This session introduced the basic principles of data-driven
able to climate change. supervision, emphasizing consumer protection. Speakers
discussed the benefits and challenges of using data analytics
Key Topics Discussed: in regulatory frameworks, highlighting the need for ethical
Climate-Smart Insurance: Manoj Pandey presented the practices in data collection and usage.

The Insurance Times December 2024 63