Top insurers attend IASL’s International Microinsurance Conference

The Cinnamon Grand in Colombo seemed extra alive over the past few days as Sri Lanka hosted the 12th International Microinsurance Conference. 

From the 15th to the 17th of November, more than 400 insurers from over 50 countries and Sri Lanka gathered to share their views and ideas on the topic of insurance and the development of microinsurance. 

Initiated in 2005 by the Munich Re Foundation and the Microinsurance Network, the purpose of the conference lies in providing insurers, re-insurers, insurance/re-insurance brokers, micro credit agents, insurance regulators, international donor agencies as well as organizations like the World Bank Group and ILO, from all over the globe with a suitable platform to meet, share ideas and experience while learning new and innovative methods to further develop the concept of microinsurance in their own countries. 

The opening ceremony took place on the 15th with the Minister of Finance, Ravi Karunanayake taking on the role of Chief Guest and the Chairperson of the IBSL, Indrani Sugathadasa attending as guest of honour.  

Dirk Perera, the President of the IASL expressed his absolute pleasure to welcome the gathering to the conference as according to him, “Microinsurance goes to the very heart and purpose of our business”. 

Perera also thanked the Munich Re Foundation and the Microinsurance Network for the confidence they have shown by selecting the IASL to host the International MicroinsuranceConference for the year 2016 and for the support both organizations have rendered in the organization of the prestigious event.  

Addressing the gathering, Mr. Loster graciously thanked and acknowledged the contributions made by the IASL since the inception of the conference and stated that he was confident that the Sri Lankan insurance industry was ready to take on a leading role in the global insurance market. 
Indrani Sugathadasa warmly welcomed all those gathered to the 12th International Microinsurance Conference, adding that it was a great leap forward for the insurance community of Sri Lanka to host such a popular international event. Rohan Sachdev, EY’s Global Insurance Emerging Market Leader, delivered the keynote address during which he discussed the concept, gaps, benefits and aspects of microinsurance.  

Chief Guest, Minister Karunanayake was most pleased by the efforts and initiatives of the IASL, the Munich Re Foundation and the MicroinsuranceNetwork in holding such an important conference on microinsurance.

“I am pleased to note that sustainability has come into focus which we took into account while drawing up the Sri Lanka national budget proposal this year. It is my fervent wish that the conference commencing today will bring in greater benefits for the industry and more opportunities for the beneficiaries, the lower income citizens thus making them inclusive”.