Call for Proposals – Insuresilience Solutions Fund

Call for Proposals

You are planning to develop, scale up or improve a climate risk insurance product and look for financial support?
Don't miss the application window of the 8th Call for Proposals, and submit your Concept Note (mandatory for the application) until Friday, 20 January 2023, 23:59 CET via info@insuresilience-solutions-fund.org.

The ISF will host two Q&A sessions via Zoom on 15 and 16 December 2022 presenting the eligibility criteria including eligible and non-eligible costs, CSA criteria as well as the application process. In order to participate in either of the two sessions, please register via the link below:
Thursday, 15 December 2022, 4:00 - 6:00 pm CET Register here
Friday, 16 December 2022, 9:00 - 11:00 am CET Register here

Both sessions cover the same content.

Climate risk insurance projects in different sectors such as infrastructure (property), finance, emergency relief, nature, agriculture etc. are highly welcome under the ISF's Call for Proposals.

All documents relevant for the application process and further guiding documents are published here.

For any questions, please do not hesitate to contact us via info@insuresilience-solutions-fund.org.

Terms of funding

The ISF provides grant-based co-funding of up to EUR 2.5m only to consortia of Project Partners consisting of public and/ or private organisations

1) which want to

develop new climate risk insurance products, especially for governments or
scale-up already existing products, e.g. into other regions or to other groups

in order to
increase the resilience of poor and vulnerable people in developing countries to climate change

2) where at least one partner is

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 and legally authorised to sign a potential Grant Agreement

3) which provide an own contribution

matching the grant funding (in-kind and/or as financial contribution, including funds from their own resources and co-financing²)

Further parties, e.g. other product implementing partners such as risk modelling agencies, insurers, brokers, can additionally be involved.

In case of applying, please bear in mind that the grant-based co-funding of up to EUR 2.5m does not include your own contribution.
Hence, the formula is as follows: ISF grant + own contribution = total project costs.

Learn more

Focus on poor and vulnerable households (< 15 USD PPP per capita 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.
Nevertheless, countries that are official candidates for accession to the European Union or beneficiaries of the European Neighbourhood Instrument East are considered to be non-eligible for ISF funding. These include: Albania, Armenia, Azerbaijan, Belarus, Bosnia and Herzegovina, Georgia, Kosovo, Moldova, Montenegro, North Macedonia, Serbia, Turkey and Ukraine.

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, and
NGOs, humanitarian 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).
Examples: Nat Cat, business interruption, property or agricultural insurance
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.).

If you require more information on the criteria to receive financial support by ISF, please refer to the Funding Criteria.

Examples for cost items eligible for funding

Development of new risk / hazard models
Technical product design incl. actuarial risk characteristics
Data collection and equipment
Policy terms and pricing
Legal costs, e.g. for the identification of a suitable implementation structure
Sales and distribution channel development
New technologies for product improvement and scale up

What ISF does not fund

Early stage development projects e.g. research ideas
Projects without a focus on the above-mentioned target group
Likely unsustainable projects, e.g. relying on long-term subsidisation
Financially-unstable and unexperienced product partners
Projects with a questionable demand

If you require more information on cost items eiligible for grant-based funding, please refer to the Eligible and Ineligible Measures.

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1) Lower rates may apply if state organisations/ public entities or none profit organisations provide the most part of the contribution.
2) Co-financing can be sourced from other public donors, but may not include any resources from funders of the InsuResilience Solutions Fund.

Insuresilience Solutions Fund

8th Call for Proposals open - submit your Concept Note and apply for funding!