The IDF is a public-private partnership led by the insurance industry and co-chaired by the United Nations and the World Bank, aiming to drive use of insurance capabilities to close protection gaps and increase resilience in countries affected by climate and other natural disasters. The 2024 Annual Review showcases the broad range of work conducted by IDF teams to deliver solutions that bring positive impacts for those living in vulnerable countries and communities.
Focused on the three pillars of implementation, engagement and advocacy, the IDF’s working groups bring together public and private sector experts to contribute their expertise to emerging economies and developing countries, designing risk-financing solutions, making risk modelling expertise accessible, and driving new efforts in the areas of disaster risk reduction and infrastructure investments. They also work closely with insurance supervisors and regulators to provide expertise and drive necessary changes in laws and regulations, which enables greater resilience to protect lives and livelihoods.
A key development in 2024 was the launch of a blueprint aimed at facilitating insurance sector investments in resilient infrastructure in emerging and developing economies. To help shape the idea further and make it operational, the IDF appointed BlackRock as General Partner. Further updates on this initiative will be announced during the course of 2025.
Other highlights from 2024 include:
45 projects active across 28 countries
Projects in 20 countries are now active in the IDF’s Tripartite Agreement Programme with UNDP and the German Government (BMZ), projected to benefit 64 million people.
USD 50m+ mobilised, with the support of the German Government and through co-investment by IDF industry members in support of the Tripartite Agreement Programme and the Global Risk Modelling Alliance (GRMA).
Two parametric insurance products – including Flood Footprint Cover and Excess Rainfall Cover – designed for Ghana’s Greater Accra Metropolitan Area.
500+ national participants involved in inclusive insurance roadmap developments.
8 country missions facilitated on Disaster Risk Reduction and Anticipatory Action.
Michel Liès, Chair of IDF Steering Committee, and Chairman of the Board, Zurich Insurance Group, said: “2024 marked a continued year of solid delivery for the IDF. Across countries, partners and sectors, we are delivering risk understanding and solutions to underpin resilient development. The IDF’s work is relevant, operational, locally owned, and globally significant. As we look ahead, we celebrate the contributions and commitment of our members and partners, as it is only through collaboration that we can deliver on our goals. Our commitment to catalysing action and advocating for sustainable change is stronger than ever. Together, we look forward to scaling up efforts that enable insurance to serve as a core pillar of global resilience.”
Download the report
|
