Grant Size :
2.5 m EUR
Closing Date :
Insuresilience Solutions Fund: 8th Call for Proposals Open
About
Are you planning to develop, scale up or improve a climate risk insurance product and look for financial support? Don't miss the application window of the 8th Call for Proposals, and submit your Concept Note.
Purpose
Emerging and developing countries, while poorly equipped with the needed coping capacities, are most affected by the increasing frequency and severity of extreme weather events. This makes them particularly vulnerable with respect to their socio-economic development, in particular poverty alleviation and improvement of livelihoods. Relying on ad hoc donor support creates uncertainties with respect to timing, size, and frequency of support which is urgently needed for mitigating the negative repercussions of weather extremes. Consequently, new sustainable approaches and strategies to manage climate and disaster risks are needed.
On behalf of the German Federal Ministry for Economic Cooperation and Development (BMZ), KfW is funding the InsuResilience Solutions Fund (ISF). The ISF promotes the development of innovative and financially sustainable climate risk insurance products in developing and emerging countries. The ISF intends to increase the resilience of poor and vulnerable people against extreme weather events such as floods, wind/storm, heavy rainfall, drought or cold spells.
Focus Areas
The InsuResilience Solutions Fund seeks to increase the resilience and capacity of developing and emerging countries to adapt to climate change by:
Supporting comprehensive climate risk analysis as the basis for governments, businesses and households to become more proactive in risk management and to make informed decisions on climate risk management and adaptation strategies.
Offering studies and advice for the development of new concepts for climate risk insurance solutions that take into account the specific needs of the poor and vulnerable populations and
Co-funding the development and market introduction of insurance products, as well as supporting the expansion of existing innovative climate risk insurance products.
Structure of the Programme
In order to promote the development of innovative and financially sustainable climate risk insurance products in developing and emerging countries, the ISF provides financial and technical assistance following a three-pillar approach:
Pillar I: Comprehensive climate risk analysis for selected geographic areas (municipalities, agglomerations or regions);
Pillar II: Funding to support (pre-)feasibility studies as well as targeted expert advisory and consultancy support required to address existing deficiencies in Concept Notes or Full Proposals submitted to the ISF under Pillar III (see below). Pillar II serves to assist applicants in developing and in improving proposals eligible for funding under Pillar III;
Pillar III: Grant-based co-funding for the development and market introduction of climate risk insurance products.
Thereby, the InsuResilience Solutions Fund will concentrate on the partner regions for international development cooperation in accordance with the policies of the donor(s) of the funds.
Funding Information
The financing envelope requested from InsuResilience Solutions Fund has a size of less than 2.5 m EUR.
The project has a duration of up to 24 months / product is ready for market placement within 24 months.
Terms of funding
The ISF provides grant-based co-funding of up to EUR 2.5m only to consortia of Project Partners consisting of public and/ or private organisations
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.
In order to increase the resilience of poor and vulnerable people in developing countries to climate change.
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 and legally authorised to sign a potential Grant Agreement
which provide an own contribution
Matching the grant funding (in-kind and/or as financial contribution, including funds from their own resources and co-financing),
Further parties, e.g. other product implementing partners such as risk modelling agencies, insurers, brokers, can additionally be involved.
Eligibility :
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.).
Post Date: 17-Oct-2022
Location :
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