The 24th conference of the parties to the United Nations Framework Convention on Climate Change will take place in Katowice, Poland.
The ISF supports the development of innovative and sustainable climate risk insurance products in developing and emerging countries to improve the resilience against extreme weather events of those living on less than 15 USD Purchasing Power Parity a day.
The ISF provides partial grant funding and advice
- to transform new climate risk insurance concepts into products which are ready for market placement and
- to bring successfully piloted climate risk insurance products to scale.
The ISF will only provide financing to partnerships which consist of at least
- a user, representing the demand-side (e.g. national or regional government bodies, NGOs, local insurers) and
- an implementing partner and potential risk taker, representing the supply-side (e.g. reinsurance company).
Further parties, e.g. other product implementing partners such as risk modelling agencies, insurers, brokers, can additionally be involved.
Additionally, the ISF catalyses future partnerships and collaborations through an online platform.
- Development of new climate risk insurance products, especially for governments.
- Scale-up of already existing, piloted products, e.g. into other regions or to other groups.
- Investment in technological solutions to improve and scale-up insurance operations, e.g. through applying satellite technology or drones.
ISF provides grants up to 2.5m EUR under the condition that the partnership commits a meaningful own contribution of 50% of the requested funding1 in kind and/or as financial contribution.apply