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Insurance Industry Reform
This technical cooperation (TC) grant seeks to improve the functioning of the insurance market in order to foster the rapid development of the Paraguayan private sector, through five subprograms: (a) Superintendency of Insurance (SIS) staff strengthening; (b) outside consultancy for preparation of legislation and standards, chart of accounts, manuals, guidelines, data collection, and business accounting; (c) establishment of a risk registry and a complaint system; (d) training; and (e) equipment. The first subprogram, strengthening of SIS staff, funds the hiring of additional personnel to ensure enough qualified staff to carry out the tasks envisioned. The second subprogram seeks to: (a) issue regulations for the insurance law and corresponding standards; (b) develop a new chart of accounts for insurance companies; (c) prepare manuals and guidelines; and (d) improve computer systems for automatic data collection and modernization of insurance company accounting procedures. The third subprogram focuses on developing two main systems to improve competitiveness and quality in the insurance sector: (a) a risk registry with a centralized database capable of providing information on claims by region and subsector; and (b) a client complaint system for tracking fulfillment of contracts and degree of client satisfaction with each insurance company. The fourth subprogram funds improved technical training for 22 SIS officials and 30 private-sector trainers, who will then disseminate knowledge throughout the sector. The fifth subprogram funds the procurement of computers with modern features in order to improve SIS's operational capacity.

Project Detail

Country

Paraguay

Project Number

TC9805021

Approval Date

January 13, 1999

Project Status

Closed

Project Type

Technical Cooperation

Sector

REFORM / MODERNIZATION OF THE STATE

Subsector

REFORM / MODERNIZATION OF THE STATE

Lending Instrument

Instrumento del Fondo Multilateral de Inversiones

Lending Instrument Code

MIF

Modality

-

Facility Type

-

Environmental Classification

-

Total Cost

USD 1,687,000.00

Country Counterpart Financing

USD 772,000.00

Original Amount Approved

USD 915,000.00

Financial Information
Operation Number Lending Type Reporting Currency Reporting Date Signed Date Fund Financial Instrument
ATN/MT-6357-PR Non-Sovereign Guaranteed USD - United States Dollar Technical Cooperation Facility Nonreimbursable
Operation Number ATN/MT-6357-PR
  • Lending Type: Non-Sovereign Guaranteed
  • Reporting Currency: USD - United States Dollar
  • Reporting Date:
  • Signed Date:
  • Fund: Technical Cooperation Facility
  • Financial Instrument: Nonreimbursable

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Implementation Phase
https://www.iadb.org/document.cfm?id=EZSHARE-1135074272-3903
Project Performance Monitoring Reports
PPMR for MIF project TC9805021 - ATN_MT-6357-PR June, 2000 [1784742].PDF
Dec. 31, 1999
Spanish
https://www.iadb.org/document.cfm?id=EZSHARE-1135074272-3904
Project Performance Monitoring Reports
PPMR for MIF project TC9805021 - ATN_MT-6357-PR June, 2001 [1784743].PDF
Dec. 31, 1999
Spanish
https://www.iadb.org/document.cfm?id=EZSHARE-1135074272-253
Specific Procurement Notices
Consulting Services [35236029].PDF
Dec. 31, 1999
English
https://www.iadb.org/document.cfm?id=EZSHARE-1135074272-9490
Donors Memorandum
Reform of the Insurance Industry of the Private Sector [461719].PDF
Dec. 31, 1999
English
https://www.iadb.org/document.cfm?id=EZSHARE-1135074272-9491
Donors Memorandum
Reforma de la industria del seguro para el desarrollo del sector privado [461721].PDF
Dec. 31, 1999
Spanish

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