IDF Issues Call to Action for Regulations to Keep Pace with Technology as a Game Changer in Closing the Protection Gap
In a paper released today, the IDF asserts that technology is a potential game changer in the efforts to close the protection gap, but the insurance sector and other stakeholders need to take advantage of advancements and for laws and regulations to keep pace.
The paper,
Among several recommendations, the paper calls for the insurance sector, regulators, legislators, policymakers and other stakeholders to encourage and facilitate the collection and sharing of critical data, to support the development and sharing of risk models for emerging economies, pursue regional alliances, and update key laws and regulations around parametric covers, intermediaries, data privacy, regulation of drones, and earth observation technologies.
Ekhosuehi Iyahen, Secretary General of the
How technology can help bridge the protection gap draws from the insights of a cross-disciplinary and global team of contributors including leading lawyers and academics on insurance law and smart contracts, senior members of the insurance industry, senior personnel at multilateral development banks, development practitioners and policymakers, alongside leading thinkers and practitioners in artificial intelligence and satellite technology applications. It can be accessed on the IDF website. This paper follows the publication of the IDF Practical Guide to Insuring Public Assets, launched in
About the
The IDF is a public/private partnership led by the re/insurance industry and supported by international organisations. It was first announced at the United Nations Conference of the Parties (
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