Pasig City—On March 28 2018, MiMAP (RIMANSI), together with Canadian regulatory experts Mr. Anatol Monid and Mr. Waqas Rana, facilitated the Philippines-Canada Learning and Sharing Forum on Product Bundling at the Ace Hotel and Suites, Pasig City. This event was attended by 37 participants (64% women) coming from the insurance sector and stakeholders. These included government regulatory and policy bodies, providers of life insurance, non-life insurance, microinsurance and pre-need including Mi-MBAs, and private and technical partners.
Mr. Monid and Mr. Rana along with MiMAP focused on three main topics for the learning and sharing session: (1) Canadian regulatory practice and experience, (2) observations from interviews with the microinsurance stakeholders on regulation of product development and bundling, and (3) their recommendations to the stakeholders.
A general observation and recommendation was presented by the Canadian consultants manifesting that the Philippine regulation on product development and bundling is sufficient at present but can still be further improved. Specifically, there should be efforts and strengthened coordination both from the regulators and insurance industry associations on enhancement of these regulations and product development.