IDRIMA, the Integrated Disaster Risk Management Alliance formed by the Insurance Development Forum and AFD Group (Agence Française de Développement and Expertise France), teamed up with Marsh McLennan to create this paper.
Combining lenders’ financing backing and experience in generating innovative solutions with the insurance industry’s ingenuity and private risk transfer expertise brings significant synergies to provide strengthened solutions for lenders and borrowers alike. Recognising the need for increased innovations in the context of intensifying climate risks, this paper aims to:
- articulate the need for increased insurer engagement in development finance lending
- detail the benefits for all parties – lenders, the insurance industry and recipients – of increased collaboration
- provide examples of successful engagements between lenders and insurers, in combining expertise and financial solutions, and articulate the key learnings from these
- help lenders and the insurance industry navigate the challenges that can hinder collaboration
- provide concrete next steps for lenders and the insurance industry to work together with confidence.
