In the last week of February in Dakar, changemakers from the Global Risk Modelling Alliance (GRMA), co-founded by the Insurance Development Forum (IDF) and the V20 Group of Ministers of Finance of the Climate Vulnerable Forum, held a workshop with the Government of Senegal and its partners, marking an important step toward strengthening the country’s climate and disaster risk financing framework.
The GRMA has a project mandate to reinforce capability in risk analysis to help stakeholders in Senegal better manage climate and disaster risks. Under the proposed 2026–2027 project, GRMA will help address critical data gaps in coastal erosion, marine submersion, pluvial and fluvial flooding in Senegal. Building on existing initiatives, this project aims to go further by quantifying Average Annual Losses (AAL) and risks for different return periods across selected hazards and sectors.
A key additional priority identified by the Government is the development of post-disaster data collection standards to better inform Climate and Disaster Risk Financing & Insurance (CDRFI) decisions. Beyond modelling and risk analytics, the workshop underlined the central need for capability development. The GRMA team presented and discussed its approach for co-development, open data standards and strengthening capacities to ensure that both public and private stakeholders are able to benefit from the project.
Dr. Annette Detken, Head of Public Sector in the GRMA public-private partnership highlighted that “Senegal has demonstrated strong leadership in advancing its disaster risk financing strategy. Through this partnership, the GRMA aims not only to strengthen the country’s understanding of climate and disaster risks, but to use risk analytics to inform decision-makers in comprehensive climate and disaster risk management for the benefit of vulnerable communities and to support long-term resilience”.
Dr. Nicolas Pondard, Senior Disaster Risk Financing Consultant representing the Insurance Development Forum and its industry partners, stressed that “Consultations with Senegalese stakeholders are critical to ensure that modelling efforts are grounded in national priorities and translated into practical solutions that strengthen financial protection of the most vulnerable communities.”
With a call for proposals expected in summer 2026, the workshop provided a valuable opportunity to co-define the project’s terms of reference with national stakeholders and development partners.
A strong example of collaborative, data-driven action to enhance financial resilience and help build future ready nations.
Managed by Frankfurt School
GRMA hosted by ISF
