Insuresilience Solutions Fund

Call for Proposals

Support for climate risk insurance products

You are planning to develop, scale up or improve a climate risk insurance product and are looking for financial support? Apply for the next Call for Proposals of the ISF!

Currently, the application window is closed.
The 11th Call for Proposals is expected to be launched within 2024.
Further details will follow in due time.

We seek to financially support the development, scale up and improvement of Climate Risk Insurance products increasing the resilience of vulnerable beneficiaries in ODA countries against extreme weather events and natural catastrophes.

We therefore encourage projects from a wide range of sectors such as physical infrastructure, finance, emergency relief, nature, agriculture amongst others, to apply within the ISF’s Call for Proposals.

Before submitting a Concept Note, please check if your project fulfills the eligibility criteria of the ISF:

  • You apply as PROJECT PARTNERS with:

    • At least two partners willing and legally entitled to sign the potential Grant Agreement,
    • at least one partner located and legally registered in the country of implementation and legally entitled to sign the potential Grant Agreement,
    • at least one partner representing the demand and needs of poor and vulnerable people (beneficiaries), and
    • at least one partner acting as a risk taker.
    • Further parties, e.g. other product implementing partners such as risk modelling agencies, insurers, brokers, can additionally be involved.

  • You want to develop, improve and/or scale up an INSURANCE PRODUCT in order to increase the resilience of poor and vulnerable people to climate change.
  • Your insurance product covers at least: flood, wind / storm, excess rain, drought / heat waves, cold spells (possibly in combination with other non-climatic perils).
  • In case of an agri insurance product, please note that at least two out of the three FAO criteria have to be fulfilled, while maintaining or promoting biodiversity.

    • Agri projects should follow / adopt practices within the scope of CSA fundamentals as defined by FAO
    • Agri projects should maintain or promote biodiversity! For further information and examples, please see here

  • Your insurance product benefits VULNERABLE HOUSEHOLDS with less than USD 15 PPP per capita per day (either directly or indirectly).
  • Your product/project will be implemented in a country eligible to receive official development assistance (ODA).
  • Your funding request does not exceed EUR 2.5m. The grant-based co-funding of up to EUR 2.5m does not include your own contribution.
    Your Project Partners contribute with OWN CONTRIBUTION at least matching the requested funding volume (either in-kind and / or financially).
    Hence, the formula is as follows: ISF grant + own contribution = total project costs
  • Your ISF project timeline will not exceed 24 months.
  • Your product will achieve a self-sustained status within 24 months.

Are you interested and do you fulfil the above stated requirements?

Please download the mandatory Concept Note template and submit your application to info@insuresilience-solutions-fund.org.

Learn more

Target Countries and Groups

  • Focus on 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.
  • With the 9th Call for Proposals, ODA countries in Europe which are eligible to receive official development assistance (ODA) as defined by the OECD and are vulnerable to extreme weather events are now considered to be eligible for ISF funding.

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.

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