• Insurance professionals in underwriting, claims, product development, and risk management.
• Brokers and intermediaries seeking to address client needs in underserved markets.
• Policymakers and regulators involved in financial inclusion and market development.
• Actuaries, reinsurers, and risk consultants focused on innovative risk transfer mechanisms.
• Leaders from InsurTech companies aiming to address accessibility and affordability barriers.

At the end of the programme, participants should be able to:

• Understand the root causes of the insurance protection gap in various contexts.
• Analyze the economic and social implications of underinsurance and uninsured risks.
• Explore global and regional solutions to improve insurance accessibility and affordability.
• Learn about emerging technologies and products that drive innovation in closing the gap.
• Develop strategies to align insurance products with the needs of underserved populations and businesses.

Understanding the Insurance Protection Gap

• Definition, scope, and relevance in global and local markets.
• Causes (demand side and supply side): including affordability, awareness, accessibility, transaction costs, and risk perception.
• Case studies: examples of underinsured risks and their economic impact including natural catastrophe,health and cyber.

Economic and social Implications

• Impact of protection gaps on disaster resilience and recovery.
• Role of insurance in economic stability and societal development.

Innovative solutions and global trends

• Disaster risk prevention – the role  of catastrophe modelling.
• Role of InsurTech in closing the gap.
• Process improvements to reduce insurers’ expense base.
• Microinsurance and parametric insurance as innovative products.
• Sovereign and sub sovereign risk transfer.
• Public-private partnerships for risk pooling and funding.
• The role of Insurance linked securities.

Regulatory and policy considerations

• Role of governments and regulators in fostering insurance inclusivity.
• Policy frameworks that encourage market participation and product innovation.

Strategic approaches to bridging/closing the Insurance Protection Gap

• Designing customer-centric insurance products.
• Leveraging data and analytics to identify and address gaps.
• Building trust and awareness among underserved communities.

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‍Neil Park MA MBA FCII  has over twenty years of experience as an international insurance broker in London and North America with WTW and Aon, before founding his own training consultancy. Specializing in professional indemnity in North America and a variety of insurances in the UK, he now primarily delivers training in the UK insurance market and internationally. He educates new insurance market entrants, trains brokers, aids in CII exam preparation, and led a cyber insurance research study published in 2022. Neil offers in-person training, virtual workshops, and webinars for firms including the Institute of Risk Management and the Lloyd’s Market Association.

Full Course Fee: S$218.00 (incl. of 9% GST)