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
Experienced senior professional in inclusive and sustainable finance, ESG and climate change related topics with a focus on inclusive insurance, asset management and CSR in the financial industry.
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