OECD-ADBI-IRDAI Roundtable on Insurance and Retirement Savings in Asia 2023 | Asian Development Bank Institute (ADBI) | 23 May 2023 | TBA, Hyderabad City, India

Asia is one of the world’s fastest growing insurance markets and accounts for an increasing share of global insurance premiums and pension assets under management. However, insurance and retirement savings penetration in the region remains low, leaving many people unprotected against socioeconomic and demographic challenges. Greater development of insurance and private pension markets offers better risk diversification over time among stakeholders.

Cohosted by ADBI, the Organisation for Economic Co-operation and Development (OECD), and India’s Insurance Regulatory and Development Authority, this roundtable will explore recent insurance market and regulatory developments and reforms and emerging challenges in retirement savings and private pension systems. It will discuss the insurance sector's climate resilience efforts and adaptation models and how digital tools can improve the delivery of retirement savings and pension schemes.

The roundtable is an annual event organized as part of OECD Insurance and Private Pensions Committee and Working Party on Private Pensions work on insurance and private pensions to address policy interests and emerging issues in these markets as well as provide evidence-based policy recommendations.

Objectives
• Address trends, challenges, and recent key developments in insurance, retirement savings, and private pensions markets in Asia
• Identify factors that will affect policy and regulatory designs for strengthening insurance market and retirement savings schemes
• Explore policy strategies for leveraging international reinsurance markets to reduce climate and disaster risks and mitigate ensuing insurance market disruptions

Target Participants
• Senior government officials from Asian Development Bank member economies
• Experts from international organizations, universities, think tanks, as well as practitioners in insurance and retirement and private savings markets
Output
• Enhanced knowledge of insurance market and regulatory developments in Asia, particularly risks and opportunities facing insurers and private pensions and adaptation of business models
• Identification of policy solutions pertaining to the implications of climate change for the insurance sector
• More robust insurance networks among insurance sector stakeholders
• Materials from the roundtable will be uploaded to the ADBI website