History
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In 2015 the IDF was founded on a bold idea: that sustained partnerships between the insurance industry and public institutions could close the global protection gap and strengthen resilience to climate and economic shocks.
By 2025 that idea had been proven. The IDF has helped move insurance from the margins of development policy to a recognised pillar of global financial resilience—turning ambition into action, theory into practice, and collaboration into operational impact at scale.
The IDF journey
2013-2014 Foundations
- IDF is conceived at the Political Champions Group for Disaster Resilience on the margins of the 2013 UN General Assembly with stakeholders from the UN, World Bank and members of the insurance sector.
2015 Conception to launch
- IDF concept is showcased at the UN Insurance Summit at UN Headquarters in New York, within the International Insurance Society (IIS) Global Insurance Forum.
- The IDF is formally launched at the Paris COP21 Climate Summit by Mike McGavick, then CEO of XL Catlin.
- Rowan Douglas, CBE, (then CEO of Climate Risk & Resilience at Willis Tower Watson), who had led the creation of the IDF between 2012-2015, took on the role of Operating Committee Chair upon the launch of the IDF.
2016 Governance
- First IDF Steering Committee meeting held; Stephen Catlin appointed Chair, with Helen Clarke (UNDP) and Joaquim Levy (World Bank) as Co-Chairs.
- IDF formalises its partnership with the IIS under President & CEO Mike Morrissey.
2017 Working Groups
- IDF formalises its governance structure with a high-level Steering Committee, an Operating Committee (hosted by IIS) directing implementation, and five specialised Working Groups. Each governance body is chaired by the insurance industry and co-chaired by the public sector.
- Samuel Muzele Maimbo (WB) and Quentin Coolen (UNDP) become the respective public sector Co-Chairs of the Operating Committee.
2018 Leadership & secretariat
- Denis Duverne (then Chairman of the Board, AXA Group) appointed IDF Steering Committee Chair, with Joaquim Levy (World Bank Group CFO) and Achim Steiner (UNDP Administrator) as Co-Chairs.
- Olivier Mahul (WB) and Jan Kellet (UNDP) are appointed as Operating Committee Co-Chairs. Ivo Menzinger appointed Industry Deputy Chair.
- IDF Secretariat is established in London, hosted by IIS and The Institutes, with office support from Clyde & Co. Ekhosuehi Iyahen is appointed Secretary General.
2019 From design to delivery
- IDF becomes fully operational, with strengthened governance foundations and Working Group expansion. Steering Committee expands to 25 member institutions, and IDF Chair joins the InsuResilience High-Level Consultative Group.
- Keiko Honda (WB) appointed IDF Steering Committee Co-Chair, taking over from Joaquim Levy.
- The IDF signs the Tripartite Agreement with UNDP and BMZ, to deliver insurance solutions and technical assistance to 20 countries. IDF insurance industry members commit up to USD 5 billion in risk capacity to back implementation of the agreement.
- IDF issues its first publications, the IDF Practical Guide to Insuring Public Assets and How Technology can Help Bridge the Protection Gap.
- Other flagship outputs include a Lighthill Risk Network grant for tsunami risk modelling in Indonesia.
2020 Legal entity & tripartite agreement programme
- Hiroshi Matano (World Bank Group – MIGA) is appointed Co-Chair of the Steering Committee.
- IDF is incorporated as Insurance Development Forum Limited, with a Board chaired by Denis Duverne. Swiss Re and AXA become founding members; Clyde & Co is appointed company secretary.
- The Tripartite Agreement is launched as an operational programme: BMZ commits funding to the ISF to co-fund the Tripartite work of IDF insurance members. The first project is launched for public schools in Peru.
- Two publications on risk analytics and microinsurance are published;
first phase of an anticipatory action partnership with UN OCHA is completed; the DRR Task Force is created; initial work on pandemic risk across Working Groups begins.
2021 GRMA and first summit
- The Steering Committee appoints Michel Liès as Deputy Chair.
- IDF and the V20 Group of Finance Ministers announce the founding of the Global Risk Modelling Alliance (GRMA) at COP26 in Glasgow.
- Tripartite Agreement Programme announces development of a parametric flood and earthquake product, and an indemnity landslide protection product in Colombia.
- The first IDF Summit takes place virtually in June under the motto “Building Resilience in a Riskier World: Actions towards a climate-resilient.
2022 Broadening influence
- Michel Liès is appointed IDF Steering Committee Chair.
- IDF announces an Anticipatory Action & Disaster Risk Reduction Initiative partnership with MapAction and Start Network.
- The GRMA is selected as a key resource for the Global Shield Initiative. Via ISF, BMZ commits EUR€21 million to enhance resilience to climate risks. EUR€11 million is for the GRMA.
- Tripartite projects launched in Mexico (agriculture insurance); Ghana (flood); and Nigeria (flood risk).
- Global Resilience Index Initiative (GRII) launches Demonstrator.
- IDF’s work now spans 22 countries and 29 projects under its three pillars: implementation, engagement and advocacy.
2023 Ambition, action & impact
- IDF Summit is held in Zurich. UNDRR, IDF, the University of Oxford and the GEM Foundation sign a new agreement to advance the GRII.
- Phase 1 of the Anticipatory Action & Disaster Risk Reduction Initiative is completed.
- Tripartite project launched in Uzbekistan (Agriculture).
- The Resilient Planet Data Hub (RPDH) is announced.
2024 Prevent, protect, provoke
- The IDF-AFD Integrated Disaster Risk Management Alliance (IDRIMA) is launched at the IDF Summit, and the French Development Agency Group (AFD Group) becomes a member of the IDF Operating Committee.
- The IDF Infrastructure Task Force announces a blueprint for insurance-sector investment in infrastructure resilience. BlackRock is selected to execute the blueprint.
- The IDF -World Bank Global Shield Financing Facility (GSFF) launch a Knowledge Partnership.
2025 10-year milestone & new tools
- IDF unveils new Strategy to 2030 and refreshes brand identity at the IDF Summit.
- Ivo Menzinger (Swiss Re) becomes IDF Operating Committee Chair; Niraj Verma (World Bank) joins as public-sector Co-Chair.
- IDF Risk Modelling working group (RMSG) launches web access to a suite of free, open-access risk modelling tools.
- Tripartite insurance products delivered in Uzbekistan (agriculture) and Lagos (flood).
- IDF and the Bridgetown Initiative announce a strategic partnership.
- Launch of the Infrastructure Resilience Development Fund (IRDF), managed by Global Infrastructure Partners (GIP), a part of BlackRock, and based on the Blueprint previously developed by IDF members AXA, Convex, Generali, SCOR, Swiss Re and Zurich. A first close secures USD340 million in investment, including from the International Finance Corporation (IFC).
IDF Insights
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