Call for Proposals – Insuresilience Solutions Fund

Call for Proposals

The Concept Idea Template is to be sent to info@insuresilience-solutions-fund.org. The third Call for Proposals is expected to start in Q4/2019. The submission deadline for the third Call will be announced shortly. Interested parties wishing to be notified via email about the upcoming opening of the third Call kindly sent a request to info@insuresilience-solutions-fund.org.

Please find all application documents here.

Terms of funding

The ISF provides grant-based co-funding of up to 2.5m EUR only to Partnerships 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 or
introduce innovative technological solutions to improve and scale-up insurance operations, e.g. through applying satellite technology or drones

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

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 2.5m EUR 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 day) either directly (through micro-level insurance) or indirectly (through meso- or macro-level solutions).
Countries in Asia, 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, and Turkey.

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).
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 funding criteria of the ISF, please refer to the following document: 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 subsidization
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 following document: Eligible & Ineligible Measures

--
1) Lower rates may apply if state organizations/ public entities or none profit organizations 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

Submit your Concept Note and apply for funding now!