International Conference on Inclusive Insurance (ICII) 2023 – Accra, Ghana

International Conference on Inclusive Insurance (ICII) 2023 – Accra, Ghana

The International Conference on Inclusive Insurance 2023 was scheduled to occur from October 23 to October 27, 2023, in Accra, Ghana. The event, hosted by the National Insurance Commission of Ghana (NIC), the Ghana Insurers Association (GIA), and the Insurance Brokers Association of Ghana (IBAG) in collaboration with the Munich Re Foundation and the Microinsurance Network, brought together experts from over 50 countries. Their aim was to discuss and find ways to accelerate growth and economic viability in inclusive insurance, particularly for emerging markets.

IFC hosted full session on October 25th from 14:00-15:30 WAT under the topic ‘Coping with climate and pandemic risks.’ The interactive session presented two case studies showcasing innovative insurance solutions to address current gaps within the climate insurance value chain and societal issues partly driven by climate risk in East and Southern Africa and Nigeria. The session hosted by the IFC Africa team featured representatives from One Acre Fund, Africa Re, the Agency for Inclusive Insurance Development (AIID), and the World Bank Livestock Productivity and Resilience Support Project (LPRES). The projects presented in each case study are funded by the Federal Ministry for Economic Cooperation and Development (BMZ) and the Dutch Ministry of Foreign Affairs through the World Bank Group Global Index Insurance Facility (GIIF).

The session: "Innovative Solutions for Bridging Climate Insurance Gaps and Addressing Societal Challenges: Case Studies from Africa" highlighted the vulnerability of African countries to climate risks and their impacts on smallholder farmers, pastoralists, and agri-businesses, such as production loss, food insecurity, and territorial conflicts.

Confirmed speakers for this session included the following representatives: 

Sharon Onyango, Financial Sector Specialist/Operations Officer, IFC (Facilitator)
Johannes Borchert, Risk and Resilience Manager, One Acre Fund
Isaac Magina, Manager – Agriculture Underwriting and Marketing, Africa Re
Masreha Taye, Social Scientist, Agency for Inclusive Innovations Development (AIID)
• Adeoye Wasiu, Technical Focal Point, World Bank Livestock Productivity and Resilience Support Project (LPRES)