IAIS sets strategic direction for 2025-2029
- Amid global trends expected to shape the insurance landscape over the next five years, the IAIS has identified three strategic themes that will feature prominently in its work programme: climate change, digital innovation including the use of artificial intelligence and cyber risks, and the need for insurance to deliver on its societal purpose of building resilience.
- Over the next five years, the IAIS will place a heightened emphasis on globally consistent implementation of the IAIS’ standards, including by assessing implementation across jurisdictions and by supporting members’ efforts in implementing effective supervisory practices.
- Assessing and responding to key risks and trends impacting the global insurance sector will remain a priority. The IAIS will continue to refine its annual risk assessment framework and use it to support globally coordinated supervisory responses.
Basel, Switzerland – The International Association of Insurance Supervisors (IAIS) today published its Strategic Plan 2025-2029. The plan was developed through a rigorous process of engagement with IAIS members and stakeholders.
“The 2025-2029 Strategic Plan builds on the achievements of the previous five-year period,” said IAIS Executive Committee Chair Shigeru Ariizumi. “Looking ahead, the IAIS will place a greater emphasis on implementation of our standards and on the themes of climate change, digital innovation and societal resilience.”
The IAIS, as a standard-setting body and a membership-driven association, is uniquely positioned to support its members in strengthening insurance supervision across the globe.
The Strategic Plan articulates the core objectives of the IAIS as a standard-setting body, identifies a set of strategic themes and sets out the operational priorities of the IAIS. Together, these elements will shape the IAIS’ activities over the next five years and guide the development of the IAIS’ annual workplan, known as the Roadmap. The Roadmap for 2025-2026 will be published in early 2025.
Core objectives
The IAIS is committed to pursuing work that serves all its members and their varying mandates, spanning financial stability, financial soundness, market conduct and consumer protection, as well as mandates related to market development and financial inclusion. The IAIS performs its role through a mutually reinforcing cycle of activities, characterised as core objectives. These are:
1. Monitor and respond to key risks and trends in the global insurance sector;
2. Set and maintain globally recognised standards for supervision that are effective and proportionate;
3. Support members by sharing good supervisory practices, promoting understanding of supervisory issues and facilitating capacity building; and
4. Assess comprehensive and globally consistent implementation of global standards.
Strategic themes
In addition to the core objectives, the IAIS has identified three strategic themes for its work programme in areas that have the potential to significantly impact, or even reshape, the insurance sector in the coming years:
- Strengthening the supervisory response to climate change;
- Adapting to digital innovation and cyber risks; and
- Supporting insurance to serve its societal purpose of building resilience.
The third theme is new and considers the role of insurance supervisors in supporting efforts to ensure that societal needs are being met by insurance products and services. Building on existing IAIS work, the theme will incorporate topics like access and affordability of insurance, fair treatment of consumers and the need to address protection gaps.
“The IAIS has identified climate change, digital innovation and cyber risks, and supporting insurance to serve its societal purpose as warranting heightened attention and action by the global supervisory community”, said IAIS Secretary General Jonathan Dixon. “We will integrate work on these strategic themes across all four IAIS core objectives.”
Operational priorities
To maximise its effectiveness in carrying out its work, and in support of the Association’s broad and diverse membership, the IAIS is committed to continuous improvement in how it operates. Through 2025-2029, the Association will be guided by four operational priorities focused on diversity, equity and inclusion, sustainability, strengthened engagement with members and stakeholders and implementation of efficiencies. Leveraging technology is expected to be an important enabler in achieving these priorities.
In conjunction with the Strategic Plan, the IAIS has also adopted its corresponding Financial Outlook for 2025-2029. The Financial Outlook is available only to members.
Read the IAIS Strategic Plan 2025-2029 here.
Please find the press release in pdf here.
About the IAIS
The IAIS is a global standard-setting body whose objectives are to promote effective and globally consistent supervision of the insurance industry to develop and maintain fair, safe and stable insurance markets for the benefit and protection of policyholders and to contribute to the maintenance of global financial stability. Its membership includes insurance supervisors from more than 200 jurisdictions. Learn more at www.iaisweb.org. Follow us on LinkedIn: IAIS – International Association of Insurance Supervisors.
Media contact:
Melanie Clowes
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IAIS-Press@bis.org