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Microinsurance Working Group

Terms of Reference

Created – 6 April 2010, Updated - 9 August 2016

1. Membership
Membership of the Microinsurance Working Group (MiWG) is selected by the MiWG Chairperson and Vice Chairpersons based on the expertise and interest of individuals, some of whom may be non-actuaries.

2. Purpose
To serve as the IAA body that coordinates the microinsurance efforts of the various IAA Committees and Sections and provides a focal point for IAA efforts to help facilitate the development of microinsurance and actuarial involvement in this rapidly growing, and socially meaningful area.

3. Role
The Microinsurance Working Group will establish and update from time to time an agenda of initiatives consistent with its purpose.  The initial agenda includes the following:

  1. Establish a formal IAA role with the ILO Microinsurance Innovation Facility in Geneva and other key organizations that might be identified.  
  2. Participate in, along with qualified actuaries with expertise in microinsurance, key conferences and meetings of the international microinsurance community.
  3. Take a leading role in defining and developing specialized training needed for our IAA members to become qualified to practice in the microinsurance area.
  4. Identify microinsurance experts (both actuaries and non-actuaries). Encourage and facilitate their involvement in appropriate IAA and member association meetings, committees, and IAA Sections.
  5. With active participation of IAA Sections, create a forum for practicing microinsurance actuaries to share their experiences and expertise with other actuaries and, as appropriate, with the microinsurance community.

4. Decision-making authority
The Working Group operates within the IAA Statutes and Internal Regulations and makes recommendations for consideration by the Scientific Committee, which will, to the extent necessary, make recommendations to the IAA Council or the Executive Committee as appropriate.

5. Operational Matters

Frequency of Meetings:
The Working Group will normally meet by teleconference, and may meet in person in conjunction with scheduled IAA meetings if required.  Extraordinary meetings in person may be called as appropriate.

Agendas and papers:
All meetings will have a formal agenda agreed by the Chairperson that generally will be distributed, along with supporting documents, at least one week before each meeting.  Agendas and supporting documents will be made available from the Working Group page on the IAA website.

Minutes of each meeting will be prepared and distributed as soon as practicable after each meeting. Minutes are available from the Working Group page on the IAA website.

Reporting on Working Group Activities:

  • The MiWG will report on its activities to the Scientific Committee and the Chair will prepare a draft workplan and budget for the next calendar period for approval by the Scientific Committee
  • The Chair will provide a written report to the IAA Secretariat after each MiWG meeting, providing an update on its activities.

Internal Liaison:
The Working Group will liaise with other IAA committees, subcommittees or Sections as required to carry-out its role and activities.

External Liaison:
The Working Group will liaise with external stakeholders as required to carry out its role and activities. These liaisons are subject to any requirements or processes of the IAA Statutes and Internal Regulations.

Other operational matters:
The Working Group will share information regarding developments and initiatives in relation to micro-insurance via the Working Group page on the IAA website.

6. Taskforces Reporting to the Working Group
The Working Group may form task forces to carry-out particular projects, subject to approval by the Scientific Committee.