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Edition 04/2018

InsuResilience Newsletter

Dear reader,

Greetings from the InsuResilience Global Partnership Secretariat and
welcome to the fourth edition of the InsuResilience Newsletter in 2018. First, a warm thank you for your continued engagement throughout the year. Since our last issue, we have seen a growth in the number of our members, a scholarship call for women working in insurance regulatory authorities of vulnerable countries, the launch of the GRiF – a new global risk financing vehicle – among many more interesting news, which we would like to share with you.

In light of the just concluded COP24 in Katowice, Poland, this edition aims to explore insurance and risk finance instruments' potential to ensure implementation of the Paris Agreement. One of the three key themes of the Polish Presidency was technology. Therefore, this newsletter edition features digital solutions for insurance and risk finance in its cover story. We hope you enjoy reading our newsletter!

INTERVIEW: new technologies and digital solutions

InsuResilience in Conversation with: Pranav Prashad

Pranav Prashad is the Senior Technical Officer at the International Labour Organisation (ILO)’s Impact Insurance Facility. Pranav provides technical expertise on agriculture insurance, alternative distribution and mobile services. In this interview, he shared his insights on the role of mobile technologies in microinsurance.

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The InsuResilience Global Partnership – A Multi Stakeholder Initiative to Protect the Poor and Vulnerable Against Disasters

During the UN Climate Change Conference 2018 (COP24) in Katowice, Poland, high-level representatives and experts from V20 and G20 countries, international organizations, private sector and academia convened under the InsuResilience Global Partnership to advance financial protection for poor and vulnerable people and countries.

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2nd InsuResilience Global Partnership Forum: Paving the Way to Effective Risk Financing Solutions

For the second time, the InsuResilience Global Partnership Forum brought together representatives from governments, international organizations, civil society, the private sector and academia from all across the globe. Next door to the United Nation's Climate Conference (COP24), the annual meeting of the Partnership offered its members the opportunity to exchange experience and knowledge convening different stakeholders of the community in person.

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African Risk Capacity (ARC) Agency and African Development Bank (AfDB) Increase Accessibility to Climate Risk Insurance for Africa

On 26 October 2018, AfDB approved the Africa Disaster Risk Financing Programme (ADRiFi), an initiative that will assist African governments in overcoming one of the largest impediments in fully benefitting from ARC's risk management tools: premium financing.

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World Bank Group, Germany, and UK Launch $145 Million Financing Facility to Support Earlier Action on Climate Shocks and Disasters

In October 2018, the World Bank Group, in partnership with the governments of Germany and the United Kingdom, announced a new US$145 million Global Risk Financing Facility (GRiF) to help vulnerable countries manage the financial impact of climate change and natural hazard-induced shocks.

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Vulnerable Economies Call for Accelerated Financial Shift

At the World Bank-IMF Meetings in Bali, the V20 Group of climate vulnerable countries highlighted urgently needed changes in global finance flows to protect countries from worsening impacts of climate change and maintain economic stability.

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Winners of the Leadership and Diversity Program for Regulators Scholarship

The A2ii and the InsuResilience Global Partnership are jointly sponsoring the participation of two senior insurance supervisors and high potential women from regulatory authorities of V20 countries in the Leadership and Diversity Program for Regulators, taught by Women’s World Banking and Oxford University’s Saïd Business School faculty.

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InsuResilience Global Partnership: Membership Growth

We announce the growth of our InsuResilience community that currently stands at sixty one. Recently, three new members joined and will support the partnership with their diverse and strong profiles: Canada aligns with the Partnership’s interest in mainstreaming gender in climate insurance topics; With its overarching goal of increasing communication and enhancing cooperation between different stakeholders and partners, the joining of the European Union forms a significant and important step in advancing this aim. The International Development Finance Club (IDFC Network) a group of 24 leading national and regional development banks, is the largest provider of public development and climate finance globally.

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New publications

The InsuResilience Global Partnership's First Annual Report

2018 was again a year of extreme weather events – at the same time, it was a year of political initiatives with the goal of helping countries cope with these disas­ters. Just one year after its inception, the InsuResilience Global Partnership for Climate and Disaster Risk Finance and Insurance has brought together more than 60 members from G20 and V20 nations, civil society, international organizations, the private sector, and academia. The achievements of the Partnership in its first year are shown in this report.

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Applying a Gender Lens to Climate Risk Finance and Insurance

Women and men face different climate change vulnerabilities, risks, and impacts based on their gender. The ‘Gender Action Plan (GAP),’ adopted at COP23 acknowledges these diferences and calls for a gender-sensitive approach to mitigation actions and adaptiveresponses, including climate risk insurance. The InsuResilience Secretariat has commissioned a background paper on gender to explore the link between gender and climate and disaster risk finance and insurance, and provide recommendations for the Partnership.

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Attitudes in Norwegian Insurance Companies Towards Sharing Loss Data

Climate change may lead to increased risk of weather related natural hazards.Therefore, both climate adaptation and prevention of natural hazards are needed. Adaptation measures should aim at reducing the exposure of society to climate-related natural hazards, as well as at increasing the capacity to deal with such events when they occur. Unfortunately, public stakeholders often evaluate vulnerability by using fragmented and incomplete data sources. An important type of data not yet fully utilized is loss data: data on damages (on address level) that insurance companies gather concerning their customers.

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Upcoming Events

22 - 25 Jan 2019 World Economic Forum Annual Meeting
Davos, Switzerland
15 - 17 Feb 2019 55th Munich Security Conference
Munich, Germany
27 - 28 Feb 2019 Aid & Development Africa Summit
Nairobi, Kenya
27 - 28 Mar 2019 InterMet and InterFlood Asia
Suntec, Singapore
13 - 17 May 2019 Global Platform for Disaster Risk Reduction
Geneva, Switzerland
For more events check our website
Every day, we post climate and disaster risk finance and insurance stories on Twitter. Join the conversation by following us.
Check out and share our Twitter Moment, which highlights our events at the COP24. 
You could as well be a part of an interactive online community where solutions are offered in the world of risk transfer expertise. Join Risk Talk here

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The Secretariat of the InsuResilience initiative is hosted by GIZ on behalf of the Federal Ministry for Economic Cooperation and Development

Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH
Friedrich-Ebert-Allee 40
53113 Bonn, Germany
Email: secretariat@insuresilience.org

Registered offices
Bonn and Eschborn, Germany

Registered at
Local court (Amtsgericht) Bonn, Germany: HRB 18384
Local court (Amtsgericht) Frankfurt am Main, Germany: HRB 12394

Photo credits:
Andy Dean Photography, InsuResilience Secretariat/ Ralf Rühmeier, ARC & AfDB, GIZ/ Christina Schubert-Fiebig, Oslo Municipality, Gorgaiphotography/istock

Data protection:
For information on our data protection regulation, please visit the InsuResilience Global Partnership website