InsuResilience Solutions Fund to Promote the Development of Climate Risk Insurance Products

Applicants are invited to submit their concept notes for the InsuResilience Solution Fund’s (ISF) 3^rd call, to promote the development of innovative and financially sustainable climate risk insurance products in developing and emerging countries.

Focus Areas of Projects

Projects which:

• develop new climate risk insurance products, especially for governments
• scale-up already existing products, e.g. into other regions or to other groups
• introduce innovative technological solutions to improve and scale-up insurance operations, e.g. through applying satellite technology or drones

These are done with the ultimate aim of increasing the resilience of poor and vulnerable people in developing countries to climate change.

At least one partner must be:

• representing the demand and needs of end-beneficiaries (e.g. national or regional government bodies, NGOs, local insurers)
• willing to act as a risk taker (e.g. reinsurance company)
• located in the target country

Eligible partnerships consisting of public and/ or private organisations must provide an own contribution matching the grant funding (in-kind and/or as financial contribution, including funds from their own resources and co-financing).

Target Countries and Groups:

• Focus on poor and vulnerable households (< 15 USD PPP per day) either directly (through micro-level insurance) or indirectly (through meso- or macro-level solutions).
• Countries in Asia and the Pacific, Africa and Latin America which are eligible to receive official development assistance (ODA) as defined by the OECD Development Assistance Committee and are vulnerable to extreme weather events.

Target Group of the ISF are Joint Initiatives of:

• (local) public entities (e.g. national and regional government bodies or communities)
• private companies in the insurance sector
• NGOs, humanitarian organisations.

Funding Information:

The ISF provides grant-based co funding of up to EU€2.5million only to partnerships consisting of public and/or private organisations.

Additional Criteria:

• The insurance product covers at least one of the following perils:
  flood, wind / storm, excess rain, drought/ heat waves, cold spells (a combination with other perils is possible).
• The project has a lifespan of up to 24 months / the product is ready for market placement and launch within 24 months after funding approval.
• A work, budget and time plan containing reliable cost estimations exist.
• Relevant experience of implementing partners, reference project exist.

Funding is requested for product development related costs (e.g. data collection, IT, risk modelling, etc.).