#ENGAGEMENT: Insurance Development Forum & World Bank Knowledge Hub Day 2024 – Photo Gallery Now Live We’re thrilled to share a collection of moments from the IDF & World Bank Knowledge Hub Day 2024 – a pivotal event aimed at building social, economic, and financial resilience through insurance. This collaborative event between the Insurance Development Forum (IDF) and the World Bank Global Shield Financing Facility brought together senior Ministry of Finance officials and industry experts for insightful dialogue and hands-on learning. These interactive sessions were an opportunity for participants to develop strategies and tap into the immense potential of insurance to mitigate climate and disaster risks and discussions will no doubt pave the way for stronger partnerships between governments and the insurance industry. Check out photos from the day to see the event highlights: https://lnkd.in/ecTpnuSK #ResilienceThroughInsurance #ClimateRiskFinance #WorldBank #InsuranceDevelopmentForum #FinancialResilience #KnowledgeHubDay #IDFSummit2024
Insurance Development Forum
Insurance
London, United Kingdom 6,245 followers
Driving greater resilience for people and societies vulnerable to disasters and their associated economic shocks.
About us
The Insurance Development Forum is a public/private partnership led by the insurance industry and supported by international organisations. The IDF was first announced at the United Nations Conference of the Parties (COP21) Paris Climate summit in 2015, and was officially launched by leaders of the United Nations, the World Bank and the insurance industry in 2016. The IDF aims to optimise and extend the use of insurance and its related risk management capabilities to build greater resilience and protection for people, communities, businesses, and public institutions that are vulnerable to disasters and their associated economic shocks. The IDF brings together industry experts (insurers, reinsurers, brokers) multilateral organisations, non-governmental organisations and public sector institutions that share its objectives and goals. The IDF’s priorities are driven by the following: The Global Resilience Challenge – as highlighted in the UN Agenda 2030, middle/low-income countries are disproportionately vulnerable to catastrophic weather and climate-related hazards. The Protection Gap – the global insurance protection gap is an estimated USD163bn of uninsured/underinsured assets that threaten livelihoods and global prosperity. Emerging economies account for the vast majority of this (USD160bn, or 96%). The role of insurance - growing evidence indicates that countries with greater penetration of insurance coverage have faster economic recoveries from disasters and rebuild with greater resilience to future disasters. The need for greater coordination/collaboration - given the scale, scope and complexity of the resilience and protection gap challenge, a coordinated and collaborative approach bringing together the insurance industry and relevant stakeholders is critical to meeting the goals of the UN Agenda 2030. For details of IDF members from both the public and private sectors, please visit the IDF website.
- Website
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http://www.insdevforum.org
External link for Insurance Development Forum
- Industry
- Insurance
- Company size
- 2-10 employees
- Headquarters
- London, United Kingdom
- Type
- Nonprofit
- Founded
- 2016
- Specialties
- International Development, Insurance, Disaster Risk Reduction, Climate Resilience, Disaster Resilience, Protection Gap, UN Sustainable Development Goals, Climate and Disaster Risk Finance, and Global Disaster Protection
Locations
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Primary
St Botolph Building
138 Houndsditch
London, United Kingdom EC3A 7DH, GB
Employees at Insurance Development Forum
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Garance Wattez-Richard
CEO AXA EssentiALL, AXA's Inclusive Insurance business | AXA France Board | Advsry Brd AXA Research Fund | Co-Chair II IDF | Awardee: Schwab (WEF)…
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Rowan Douglas CBE
CEO Climate Risk and Resilience - Howden
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Prasun Mathur
Private assets & investment solutions | ex. HSBC, Standard Life, Phoenix | IIM B | IIT D
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Ekhosuehi Iyahen
Updates
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#ENGAGEMENT: In his video interview at the IDF Summit this year Michel Liès, Chair of the IDF Steering Committee and Chairman of Zurich Insurance Group, discussed a key priority for the insurance industry and the private sector: transparency. Michel pointed out that introducing robust risk modelling and clearly explaining the real risks we face allows the industry and governments to move from simply identifying risks to effectively addressing them. When risks are communicated transparently, it leads to better decision-making, private or public, improved preparedness, and a more resilient global community. This perspective highlights the important role transparency plays in the work of the insurance sector. As insurers continue to develop and refine their models, making these insights clear and actionable for all stakeholders is essential. In his interview he hopes that this approach will help protect communities and contribute to a safer, more sustainable future. The full interview can be found here: https://lnkd.in/dvq2w9gR #Insurance #RiskManagement #Transparency #IDFSummit2024 #Sustainability #Resilience
IDF Summit 2024 Interview: Michel Liès, IDF and Zurich Insurance
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#ENGAGEMENT The Insurance Development Forum is pleased to support the inaugural Global Asia Insurance Partnership (GAIP) Summit on 14-15 October 2024, in Singapore. This pivotal event, themed “Addressing Asia's Protection Gaps,” aims to foster regional dialogue and solutions for narrowing the significant protection gaps across Asia. Ekhosuehi Iyahen, Secretary General of the Insurance Development Forum, will be supporting the discussions, reinforcing our shared mission to build resilience through insurance and risk management. We look forward to engaging with regional industry leaders, policymakers, and experts to drive impactful action across Asia. Find out more and register: https://lnkd.in/gBvGDs77 #GAIPSummit2024 #UNSDGs #RiskResilience
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#ENGAGEMENT: In his insightful interview at the IDF Summit, John Maroney, Chief Executive Officer of the Global Asia Insurance Partnership (GAIP), outlined the role and aims of his newly established organisation. Based in Singapore, GAIP is a tripartite public-private partnership primarily focused on the Asia region but also engages in global conversations about new and emerging risks. John shared his thoughts on the crucial partnerships needed to drive meaningful action in disaster risk finance. His perspective sheds light on how collaborative efforts can significantly impact and enhance disaster risk management. Watch the full interview here: https://lnkd.in/eZ9Zp3j8 #IDFSummit2024 #DisasterRiskFinance #Partnerships #Insurance #EmergingRisks
IDF Summit 2024 Interview: John Maroney, Global Asia Insurance Partnership
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#ENGAGEMENT We are pleased to share the new UNDP and Generali report, "Parametric Insurance to Build Financial Resilience." This comprehensive study highlights the power of parametric insurance in protecting vulnerable communities from financial shocks and closing the protection gap. The report, featuring case studies and actionable insights including the work of the Insurance Development Forum, is a must-read for anyone interested in innovative insurance solutions that advance the UN Sustainable Development Goals. Download the report now to learn more: https://lnkd.in/e5DuYFWt #ParametricInsurance #ProtectTheFuture #Generali4Sustainability #FinancialResilience #Parametric4SDGs Generali Global Corporate & Commercial
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Public private knowledge partnership is critical to help developing countries develop climate and disaster risk finance strategies as the range of financial products offered by both development partners and the private insurance industry is increasing. Ekhosuehi Iyahen, Insurance Development Forum, Secretary General and Olivier Mahul, Global Manager for Climate Finance Mobilization at The World Bank, and former Ex-Officio Member of IDF Steering Committee and Co-Chair of IDF Operating Committee, explore the challenges and opportunities in this joint blog: Reducing the Protection Gap Against Climate Shocks and Disasters Through Stronger Public Private Knowledge Partnership. Watch the highlights from the Knowledge Day here: https://lnkd.in/ezBhJZQn Read the joint blog here: https://lnkd.in/ekGcsubA #PublicPrivatePartnership #Insurance #Development #Sustainability #Impact #SustainableDevelopment #Resilience #ClimateChange #ProtectionGap #ClimateRisk #Resilience #Adaptation #UNSDGs
Insurance Development Forum & World Bank Knowledge Hub Day 2024 - Highlights
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#ADVOCACY: In her interview at this year's IDF Summit, Céline BOULAY, expert with the Global Shield at Groupe Agence Française de Développement, addressed the pressing challenges we face. She highlighted the urgent need to tackle climate change through increased efforts from all parties, including private sector actors like insurance companies and the relevance of combining public and private expertise and solutions. Celine stressed that as times rapidly change, it's crucial to integrate comprehensive climate risk assessment, measurement, and reduction into investment approach. This will ensure that we are better prepared to face the evolving impacts of climate change. To delve deeper into Cèline’s insights and the critical need for enhanced climate action, click here: https://lnkd.in/e8zpshJm #IDFSummit2024 #ClimateAction #RiskManagement #Insurance #Sustainability
IDF Summit 2024 Interview: Céline Boulay, AFD
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#ENGAGEMENT The Insurance Development Forum is looking forward to participating in the upcoming Generali and UNDP report launch event, "Parametric Insurance to Build Financial Resilience," on 4th October 2024 at 12:00 PM CET. As part of our ongoing collaboration with the UNDP, this event will highlight the critical role parametric insurance plays in addressing the protection gap and enhancing financial resilience in vulnerable communities worldwide. Ekhosuehi Iyahen, Secretary General of the IDF, will join a panel of esteemed experts to discuss the findings of this joint report, which explores the effectiveness of parametric solutions in managing risks and shocks. We invite you to join the event to learn how these innovative insurance models can drive meaningful progress towards the UN Sustainable Development Goals. https://lnkd.in/etqmkMSZ #ParametricInsurance #ProtectTheFuture #Generali4Sustainability #FinancialResilience #Parametric4SDGs Generali Global Corporate & Commercial
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#ADVOCACY: Speaking at the IDF Summit 2024, Heike Schmitz, Member of IDF Operating Committee and Co-Chair of IDF Infrastructure Task Force (ITF) and Partner at Herbert Smith Freehills emphasised how the private sector, and particularly the insurance sector, have a very important part to play specifically in insuring against risk, underwriting and helping communities to bear increasing risks and in regards to investment – a particular passion of Heike’s. She notes, "Insurers are beginning to recognise that their investments can both create and mitigate risks. This dual role underscores the critical importance of the private sector in shaping a more resilient future." Don’t miss the full interview with Heike Schmitz, where she delves deeper into how the insurance sector can drive resilience and sustainability: https://lnkd.in/efzNxfrb #InsuranceDevelopmentForum #Resilience #ClimateRisk #InsuranceIndustry #IDFSummit2024
IDF Summit 2024 Interview: Heike Schmitz, Herbert Smith Freehills
https://www.youtube.com/
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#ENGAGEMENT: Attending the summit to represent the voice of insurance supervisors around the world, Jonathan Dixon, Secretary General, IAIS - International Association of Insurance Supervisors highlighted the importance of recognising climate change as a significant societal challenge that requires collaborative efforts to find effective solutions. Natural catastrophe protection gaps are central to the issue for the insurance sector, and Jonathan shared that narrowing this gap is a key area of focus for the Association. He stressed how addressing these gaps is crucial to building resilience and protecting communities from the impacts of climate change. To watch the full interview, click here: https://lnkd.in/e-3tpAnF #Insurance #ClimateChange #ProtectionGap #IAIS #Sustainability #RiskManagement #IDFSummit2024
IDF Summit 2024 Interview: Jonathan Dixon, IAIS
https://www.youtube.com/