Inclusive International Conference Kicks Off in Kathmandu with Global Participation
Kathmandu- The International Inclusive Conference begain today with the pre-conference session held in the capital city, Kathmandu. The conference organized by the Nepal Insurance Association, Life Insurance Association, Nepal Micro Insurance Association & Nepal Insurance Authority with collaboration with Munich Re Foundation and the Micro Insurance Network will run for five days concluding on October 25.
The event has drawn participation from over 500 insurance experts and industry representatives from more than 41 countries according to Nepal insurers association. Of these, around 300 attendees from 40 different countries have traveled to Nepal to engage in discussions on various aspects of inclusive insurance.
The day begin with workshop focused on introducing Inclusive Insurance, where key challenges and the opportunities in this emerging sector were discussed. Hosted by International Labor Organization (ILO), the four distinguished members of ILO shared Insights on how the Inclusive Insurance can benefit undeserved populations.
The second workshop turned its attention to practical tools for pricing health and life insurance products. The speakers, four experts in the field, discussed the growing demand for microinsurance solutions tailored to manage risks faced by low-income and underserved communities. The session emphasized that with proper tools and the application of actuarial expertise, the microinsurance market could become a driving force in making insurance more accessible and inclusive.
Picture source: Dirk Reinhard/linkedin
The discussion also touched upon the need to strengthen actuarial expertise in developing countries to ensure the sustainability and inclusivity of insurance products. Climate risk insurance was another major topic of conversation, as participants examined how flexible insurance solutions can be applied to manage climate risks effectively.
A workshop hosted by the United Nations Environment Programme (UNEP) highlighted the findings from a study on climate-smart insurance solutions. The UNEP’s FI-V20 Sustainable Insurance Global Coordinator, Brandon Mathews, facilitated the session, which delved into lessons learned from the study and how the insurance industry can adapt to the challenges posed by climate change.
The final part of today’s pre-conference activities focused on the fundamentals of data management. The program included three sessions, each featuring two to three speakers, who offered insights into various data-driven strategies for inclusive insurance.
The pre-conference sessions have set the stage for the upcoming discussions, with participants eager to engage in deeper conversations over the next few days on how to foster innovation and inclusivity in the insurance sector.
The conference will be formally opened by Ramsahay Prasad Yadav Vice President of Nepal tomorrow morning.