Fsc Hosts Microinsurance Workshop

The Financial Services Commission (FSC) in collaboration with the Multilateral Investment Fund (MIF), a member of the Inter-American Development Bank Group and Access to Insurance Initiative(A2ii) will be hosting a Microinsurance Workshop on Friday, July 04, 2014 at the Jamaica Pegasus Hotel, from 8:30 a.m. to 12:55 p.m., under the theme “Microinsurance: Exploring a New Frontier – Unveiling the Results”.

The FSC, the MIF and A2ii are now presenting a follow-up Workshop to the November 4, 2013, exploratory workshop which was intended to sensitise persons to the development of microinsurance in Jamaica.

This workshop aims to continue to sensitise persons to the opportunities for accessing insurance, at lower cost, through approved institutions including cooperatives, small and medium enterprises and service providers of telecommunications. The presentations will deliver the findings of the Diagnostic Study of Jamaica, regarding insurance for low-income individuals, as well as, share their recommendations on the regulatory approaches that can be used to promote the development of microinsurance in Jamaica. The FSC is also seeking to further engage potential participants in the microinsurance industry in Jamaica, and as such is targeting key stakeholders from the insurance industry, agricultural sector, micro-financing institutions, credit unions and other entities. It is anticipated that the participants will benefit from the exploration of the opportunities that will become available, particularly in the areas of new products, new markets and additional distribution channels for microinsurance business. The FSC will also be presenting an introductory session on Micro Pension and the benefits to be derived by Jamaica from the implementation of this product.

The presentations for this workshop will be delivered by external presenters who are experts in the microinsurance field and who have made presentations on behalf of our partners in various countries throughout Latin America and the Caribbean.