International Conference - The Strategy of Developing the Life Insurance Market: Practical Aspects of Its Implementation
Organizers: The Association of Life Insurance Companies and the All-Russian Insurance Association.
Topical relevance:life insurance, as experts expect, in the short-term perspective will turn into a major driver of the insurance market growth. Besides, this segment is quite likely to become the source of long money for major infrastructure project and for the economy as a whole; life insurance may and must play a prominent role in accomplishing social functions and objectives. However, if this line of insurance is to fully disclose its potential, the state and the insurers will have to cover a lot of ground.
The conference's main topic will be the elaboration of practical recommendations and proposals for drawing up the road map for the insurance market development strategy in what concerns the life business as well as the overview of the relevant international experience and practice. The representatives of insurance companies and associations, the Russian and foreign experts as well as the representatives of the bodies of government will discuss key issues of the business's development:
- the main areas for implementing the strategy of the RF Ministry of Finance pertaining to life insurance;
- the plan of work by the Association of Life Insurance Companies and the All-Russian Insurance Association aimed to implement the strategy for developing life insurance;
- the promotion of investment life insurance: the prospects of growth and introduction with reliance on the international experience;
- further improvement of the statutory framework, the regulatory principles and the principles of oversight in life insurance;
- the prospects for establishing self-regulatory organizations in the Russian insurance market;
- involvement of insurers in the pensions system: the status, prospects and review of international experience;
- the establishment of guarantee funds in the particularly important and socially significant classes of insurance.
An important mission of the Conference is to draw the attention of the government, the public at large, the media and the professional participants in the insurance market to the topic at hand. The Conference will be attended by regional journalists specializing in financial matters and invited by the Association of Life Insurance Companies to attend a training workshop (to be held on November 8). Presumably these will be the journalists who will be more actively involved in covering insurance-related topics in the regional press.
Invited to attend the Conference are: the representatives of government structures, senior executives of life insurance companies and of non-governmental pension funds, the representatives of banks and businesses in the real sector of the economy and journalists.
Key-note speakers are: the representatives of the Russian Federation Ministry of Finance, the Ministry for Economic Development of the Russian Federation, the Bank of Russia Financial Markets Service, the Ministry of Labor and Social Security of the Russian Federation, senior executives of major life insurance companies, of non-governmental pension funds and of sectoral professional associations and unions (the Association of Life Insurance Companies and the All-Russian Insurance Association).
More detailed information about the preparation of the Conference "The Strategy of Developing the Life Insurance Market: Practical Aspects of Its Implementation" is available by phone +7 (495) 682-6453, 686-5338, 686-5605, and also from Web site www.insur-life.ru.