1. Global Trends and Supervisory Challenges: In inclusive insurance markets IAIS Global Seminar Budapest 17 June 2016

2. Key trends in inclusive insurance markets  Increased use of digital technology  Increased presence of mass distribution channels  More diverse and complex products  Government increasingly driving 2

3. Impact of key trends on access 3 Source: Inclusivity Solutions “It takes one year to insure 1m lives via MNOs vs. 40 years for a typical insurance market”

4. Key challenges for insurance supervisors  Increased involvement of ‘non-traditional intermediaries’  Change in power dynamics in the distribution chain  Need to cooperate and coordinate with other non-insurance regulators and supervisors as well as government departments  Ensuring non-traditional intermediaries are appropriately licensed  Need for supervisors to be present in policy debates  Consumer protection and education of previously ‘inaccessible’ policyholders  Data protection challenges resulting from digital financial inclusion  Risks posed by new more complex insurance products 4