We offer a tiered approach in contributing to the development and implementation of climate risk insurance for vulnerable people in order to increase their resilience and adaptation to climate change. Our objective is to close the protection gap by focusing on solutions for vulnerable populations who are over-proportionately exposed to climate risks and who currently have no access to risk management and insurance solutions.

The GRMA is a joint public-private technical assistance programme of the V20 and the Insurance Development Forum, hosted by the ISF. The GRMA works jointly with countries - through officials and local experts in ministries and mayoral offices - to develop their sovereign climate and disaster risk insight. It has three main components:

• A grant fund to help countries fill critical risk model and data gaps for public good.
• A technical assistance team comprising risk practitioners combining both public and private sector expertise.
• Open-source risk modelling technology, tools and standards developed by the insurance industry and optimised for public sector use.

The GRMA has been selected as a key resource for the Global Shield (GS) Initiative, particularly during initial in-country climate risk assessments and subsequent capacity building phases. The GS, launched at COP27 in Sharm el Sheikh, is an initiative for pre-arranged financial support designed to be deployed during climate disasters. It aims to build domestic, regional, and international markets to handle climate risks in a highly effective way and to encourage a system that delivers the objective of resilience to economies and climate justice to communities.

Visit the Global Risk Modelling Alliance website to learn more.

The provision of training courses and capacity development on the topic of comprehensive climate risk management forms a crucial part of our work.

Climate Risk Insurance: Product Development Training

The course will help participants to understand the spectrum of solutions offered by innovative climate and disaster risk insurance products as an essential element of comprehensive risk management. Participants will be introduced to the process of product development as well as tools and models relevant for climate and disaster risk analysis, insurance product design and pricing. The course targets participants from the public and private sector who are responsible for climate and disaster risk management.

For complementary trainings of Frankfurt School in the field of climate adaptation, see the Development Finance Academies.