How quickly can support reach vulnerable communities when a city floods?
“As soon as there is a high probability of flooding, satellites are sent to monitor the city and produce images that will trigger the payment.”
Karina Whalley, Head of Public Sector at AXA Climate and Insurance Development Forum Lagos Project Co-Lead, shared insights with Radio France Internationale on how parametric insurance is transforming disaster response.
Lagos State’s new parametric flood-risk policy is a practical solution—enabling preparedness ahead of floods and rapid financial response when pre-defined thresholds are met. The policy is designed to protect up to 4 million people and unlock up to US$7.5 million for swift flood response and recovery.
Delivered under the Tripartite Agreement Programme, this pioneering public-private initiative brings together the Lagos State Government, IDF Change Agents AXA Climate, AXA Mansard, Swiss Re, JBA Risk Management, ICEYE and African Risk Capacity Ltd., with support from UNDP. By combining advanced flood modelling, satellite data and insurance expertise, it enables fast, predictable disaster financing when it is needed most.
Read Karina’s RFI interview (French):
