Welcome to 2nd SAARC Insurance Regulators’
Meet & International Conference
The first SAARC Insurance Regulators Conference was held during April 6-7, 2013 in Dhaka, Bangladesh which was organized by the Insurance Development and Regulatory Authority (IDRA), Bangladesh in cooperation with the Federation of State Insurance Organizations of SAARC countries. There, the Securities and Exchange Commission of Pakistan (SECP) was proposed to host the 2nd SAARC Insurance Regulators’ Conference during 2014 in Pakistan. This year, the Conference is scheduled to be organized during April 14-16, 2014 at Hotel Mövenpick, Karachi, Pakistan which is expected to be attended by almost 500 delegates from the international insurance regulators, insurers, reinsurers, brokers, donors, bankers and other relevant senior officials from SAARC region as well as other developed and developing countries, who will present their work on the related topics.
The theme of the Conference, “Local to Glocal”, has been carefully developed after detailed deliberations and brainstorming. Glocalization, which is a combination of globalization and localization, is a term denoting the adaptation of a product or service specifically to each locality or culture in which it is sold and is similar to internationalization. Originally referring to the common practice in Japan of adapting farming techniques to local conditions, dochakuka evolved into a marketing strategy when Japanese businessmen adopted it in the 1980s. While keeping the changing dynamics of the regional insurance industry, the theme is therefore quite relevant in the context of collaborated development and growth of the regional insurance industry. The same is also reflected in the overall structure and organization of the Conference.
The Conference is all geared to focus on the thematic areas, some of which will have more strategized focus includes:
- Risk-based supervision and insurance market development;
- Catastrophe insurance and disaster risk financing;
- Consumer protection in insurance;
- Effective and efficient ways of regulatory compliance;
- Development and delivery of life and health insurance;
- Role of donor organizations in insurance market development;
- Learning from the best Insurance supervision models;
- Opportunities and challenges in Takaful market development;
- Technology and alternate distribution channels;