MicroInsurance Centre at Milliman’s Post

Meet the speakers: Parallel session 9 - Leveraging #parametric #insurance as an #innovative #financing mechanism for #Anticipatory #Action (AA) Traditional #disaster response often reacts after disasters strike. The proposed session explores how to bridge this gap by integrating Anticipatory Action (AA) with parametric insurance to help protect more lives and livelihoods ahead of predictable crisis. This offers several benefits: predictable funding ensures timely implementation of preventive measures, incentivizes investments in risk reduction, fosters #accountability through clear #payout criteria, and enables rapid response based on forecasts rather than waiting for disaster impact. The Pacific Insurance & Climate Adaptation Program (PICAP) exemplifies this approach. The pilot programme, which provides cooperatives with pre-cyclone payouts for preparedness activities, demonstrates how AA can unlock financing through parametric insurance even before disasters happen to help communities better cope with #climate risks.  Anuj Kumbhat Praneel Pritesh Bikram Rana-CSPM(IAPM) Kate Sinclair Mariam Parekhelashvili Munich Climate Insurance Initiative #ICII2024 https://lnkd.in/d4zSZegm The #ICII2024 will take place from 21-25 October 2024 in Kathmandu, #Nepal. 400+ experts from 50+ countries will discuss and identify ways of accelerating growth and #economic #viability for households in inclusive insurance for emerging markets. The conference will be hosted by the NEPAL INSURANCE AUTHORITY (Insurance Regulatory), Nepal Insurers' Association, Nepal Microinsurance Association and the Life Insurance Association of Nepal in cooperation with Munich Re Foundation and The Microinsurance Network. REGISTER NOW! #microinsurance #sdgs #climate #insurancefordevelopment

Did you know we can predict some disasters and take action before they happen? That’s called Anticipatory Action. It gets even better with parametric insurance, which provides fast payouts based on set triggers (like a storm or flood reaching a certain intensity). My colleague, Mariam Parekhelashvili, will be facilitating this topic at #ICII this year. We’re excited to join the discussion with everyone in Nepal! 🇳🇵 #AnticipatoryAction #ParametricInsurance #DisasterRiskReduction #ClimateResilience #InclusiveInsurance #ICII2024 #DisasterPreparedness

The Daily Nation News paper highlights how Britam Insurance Company (Malawi) Ltd is addressing climate change risks in the insurance industry. This includes mitigating disasters like cyclones and El Niño, which have impacted countries such as Malawi. Stay informed about efforts to combat climate-related challenges in the insurance sector. In the picture Britam Holdings Group Chairman Kuria Muchiru shared some insights with the media. #ClimateChange #InsuranceIndustry #Malawi #RiskMitigation

The Insurance Development Forum is incredibly proud that our Tripartite Agreement with UNDP and Federal Ministry for Economic Cooperation and Development (BMZ)  has been awarded the International Insurance Society (ISS) Property & Casualty Innovator of the Year award, recognising the innovation and impact of the unique Programme. The Tripartite Agreement was structured as a public-private partnership with the aim of developing a series of meaningful and effective climate risk financing and insurance programmes to help the populations of countries in need of greater financial resilience against the impacts of climate risk and other natural hazards. It brings together three leading institutions  - the Insurance Development Forum, the UNDP and the BMZ - towards this objective and leverages their in-country presence, financing, technical expertise and risk capital to develop new risk financing solutions for sovereign, sub-sovereign and humanitarian actors. Managed through the Insurance Development Forum’s Sovereign and Humanitarian Solutions (SHS) Working Group, the 20 initial country programmes under the Tripartite Agreement are projected to benefit 65 million people. The prestigious award sponsored by Lloyd's recognises initiatives that have achieved ground-breaking innovation. It honours those who have demonstrated creativity, measurable impact, and a commitment to leveraging their innovation for the betterment of society. It also celebrates those who push the boundaries and make a significant difference in the world of property/casualty insurance. The selection was made by the IIS Executive Council comprised of senior industry executives. Winning this award is an incredible acknowledgment of the innovative nature of this alliance. It is a testament to the leadership and teams from the respective institution who have translated an idea from concept to full operationalisation. Read the latest implementation update on the innovative risk transfer solutions for urban flooding in Accra, Ghana: https://lnkd.in/eGgGvng8 We wish to thank the International Insurance Society and the awards judges for this recognition, and our partners and members for their support in collaborating across public and private sectors to bring innovative risk solutions to life where they are most needed.  Read more about the award winners: https://lnkd.in/eQqr8dn5 #GIF2024 #Innovation #TripartiteAgreement #SustainableInfrastructure #Resilience #InsuranceNews #SustainableDevelopment #Resilience #ClimateChange #ProtectionGap #ClimateRisk #Resilience #Adaptation #UNSDGs

On Monday our pioneering Tripartite Partnership between the Insurance Development Forum , UNDP & Federal Ministry for Economic Cooperation and Development (BMZ) was awarded the 2024 Global Property & Casualty Innovator of the Year Award by the International Insurance Society (IIS). More here: https://lnkd.in/eZ4jvtVS My appreciation to the IIS & its Executive Council on awarding us this honour as well as Lloyd's for sponsoring : Joshua Landau Andreas Berger Dawn Miller . A huge thank you ultimately goes to the leaders & colleagues across the three partner institutions and the incredible teams all over the world who have been on this journey to translate an idea into operational impact. The award recognises initiatives that have achieved groundbreaking innovation. It honors those who have demonstrated creativity, measurable impact, and a commitment to leveraging their innovation for the betterment of society. It also celebrates those who push the boundaries and make a significant difference in the world of property/casualty insurance. The Tripartite’s vision and the work to execute is a material expression of a public private partnership where all actors pull in the same direction towards a common goal and incentives are aligned. It is difficult work. There are no short cuts. It involves constant learning. It represents innovation beyond data and tools. It extends to innovation in process, thought & collaboration. It is aimed at resetting what it means to deliver better solutions for people who are most in need. It is instructive given the broader external environment. It is just the start. Thanks to all involved for the work that you do, leadership exercised, trust practised & teamwork demonstrated. Apologies in advance if I have not tagged you below. Many are part of this journey. You know who you are. Michel Liès Achim Steiner Dirk Meyer Denis Duverne Ingrid-Gabriela Hoven Dr. Jürgen Karl Zattler Ivo Menzinger Jan Kellett Claudia Thyme Rowan Douglas CBE Martin Kipping Ruth Lux Annette Dr. Detken Karina Whalley Tuga Alaskary Sebastian Lesch Manuela Glass, Ph.D Sophie Evans Bill Marcoux Astrid Zwick Pedro Pinheiro Kipkorir Koskei Stève Udriot Franziska Wasserhess (geb. Rehr) Norah Becerra Farfan Garance Wattez-Richard Daniela Zimmermann Ralf Weiss Viktoria Seifert Saoirse Jones, CFA Ian Branagan Nick Moody Rachel Delhaise Jeff Manson

Will I see you in Windhoek? Let's meet, and discuss tackling this year theme: Coping with rising natural catastrophes across Africa. Can we build resilience together? Not much of a choice, we better do! #AIOConference #AfricanInsurance 🌍🤝🌏

Who's coming to the 50th AIO Insurance Conference in Namibia? --- The devastating effects caused by natural catastrophes will continue to impact and affect everyone, especially vulnerable communities across the globe. The recent flooding in the Middle East and East Africa highlight the importance to offer formal coping tools, such as insurance, to protect those most affected by natural catastrophes. This year’s theme at the 50th AIO Insurance Conference in Namibia: ‘Coping with rising natural catastrophes across Africa’ is the perfect setting, to engage with industry leaders and stake holders, to address the increased risks that natural catastrophes bring. Our CEO, Michele Grosso, and SSA regional head, Siani Malama, will be at the conference to discuss how digital solutions will continue to be vital business tools, within the insurance value chain, to ensure no one is left behind. Come visit us at the Democrance booth, to discuss how we can partner and build resilience together, across Africa!Stay tuned for updates and key takeaways from this event. #AIOConference #AfricanInsurance 🌍🤝🌍

🌟 Excellent Op-Ed from Nakabuye Hilda Flavia, founder of Fridays for Future Uganda. https://lnkd.in/e55Y7UFd ☔ Offering her 1st hand experience of the climate crisis, growing up on a farm in Uganda - and the powerful action insurers can take to protect communities like her own. 👉 'The International Energy Agency has stated there can be no new oil pipelines if we are to save the future, and yet companies including AIG, Tokio Marine Group, Chubb, Hiscox, and Lloyd's still refuse to rule out insuring #EACOP... 👉 '...the insurance industry holds more power than most to slow the crisis... If insurance companies updated their policies and refused to insure new fossil projects, there would be no new oil pipelines, liquefied natural gas terminals, or dirty coal mines. 👉'If they focused instead on insuring clean, safe energy and a just transition, our communities and our world would be safer for current and future generations. 👉.'..together we can push the insurance industry to be the heroes the world needs now, because later is too late.' Insure Our Future Global Mothers Rise Up eko Public Citizen Rainforest Action Network Gwilym Pugh

5 Companies Helping Africa Fight Climate Change with Insurance The Lancet Countdown on Health and Climate Change  report shows how climate change increasingly threatens global health and livelihoods, particularly in agriculture. 🔹 Rising Temperatures, Food Insecurity, and Health Risks are affecting millions globally, highlighting an urgent need for proactive solutions. This month, we’re spotlighting visionary organizations leading the charge: 1. (#InsuResilience) Global Shield against Climate Risks - his initiative aims to provide climate risk finance for 500 million people by 2025. By focusing on vulnerable groups, particularly women, InsuResilience brings tailored insurance solutions to those who need it most. 2. Takaful Insurance of Africa Limited - Under CEO Sumayya Hassan, Takaful pioneers ethical insurance for agricultural risk with the #IndexBasedLivestockTakaful (IBLT) policy, using satellite imagery to protect livestock herders from climate impacts. 3. ZEP-RE (PTA Reinsurance Company) - Led by Hope Murera drives the development of climate insurance products, helping local markets close Africa’s insurance protection gap and making resilient solutions accessible across the continent. 4. One Acre Fund -  led by CEO #EricPohlman, One Acre Fund empowers smallholder farmers through financing and training, equipping them with tools to withstand climate variability and secure their livelihoods. 5. African Risk Capacity (ARC) Group), under the leadership of Lindelwe Lesley Ndlovu, ARC supports African governments with sovereign risk insurance, allowing rapid response to disasters and aiding millions in recovery. 🔹 As COP29 approaches, let’s rally for transformative action prioritizing health, sustainability, and resilient futures for all. #ClimateChange #Agriculture #Sustainability #InsuResilience #TakafulInsurance #ZepRe #OneAcreFund #AfricanRiskCapacity #COP29

Meet the speakers: Plenary 7 - #20th International Conference on Inclusive Insurance: Looking back at key #trends, #successes and #failures in selected countries The ICII 2024 marks the 20th International #Conference on #Inclusive #Insurance. Over the past 20 years, microinsurance has emerged as a critical tool for financial #inclusion and #risk mitigation in #underserved communities worldwide. Several key lessons have been learned during this time around the world. The session will highlight the Inclusive Insurance journey in countries that hosted the ICII in the past and aims at developing #lessons #learnt.   Eduardo Morón Farzanah Chowdhury Lemmy Manje Dirk Reinhard Craig Churchill #ICII2024 https://lnkd.in/d4zSZegm The #ICII2024 will take place from 21-25 October 2024 in Kathmandu, #Nepal. 400+ experts from 50+ countries will discuss and identify ways of accelerating growth and #economic #viability for households in inclusive insurance for emerging markets. The conference will be hosted by the NEPAL INSURANCE AUTHORITY (Insurance Regulatory), Nepal Insurers' Association, Nepal Microinsurance Association and the Life Insurance Association of Nepal in cooperation with Munich Re Foundation and The Microinsurance Network. REGISTER NOW! #microinsurance #sdgs #climate #insurancefordevelopment