Disaster risk and readiness for insurance solutions: A novel assessment tool for low to lower middle income countries (InsuRisk Assessment Tool)

This factsheet outlines the use of the “Risk and Readiness for Insurance Solutions Assessment Tool” (InsuRisk Assessment Tool), which assesses the climate and disaster risk of partner countries as well as their needs for climate risk solutions or other forms of support according to the maturity of the local insurance market. In line with the pro-poor focus of InsuResilience, the analysis was restricted to low and lower middle income countries (n = 84). The tool is a first prototype for consultation. Its modular design will allow governments, insurers and researchers to select required information based on their respective interests.

The InsuRisk Assessment Tool was developed in order to provide transparent and comparable information on countries’ vulnerability towards climate and disaster risks and their readiness for insurance solutions. The tool is a first prototype, giving orientation for prioritizing action and tailoring support for potential InsuResilience partner countries. It was designed with a view to the InsuResilience goal and target group, i.e. to enable access to climate risk insurance for an additional 400 million poor and vulnerable people by 2020.