Fostering Reliable Disaster Preparedness And Response
The GSSP fosters the development of needs-based and financially sustainable climate risk finance and insurance solutions in developing and emerging countries, thus increasing the resilience and the capacity of developing countries to deal with the losses and damages caused by climate change. The aim is to develop and implement Climate and Disaster Risk Finance and Insurance (CDRFI) solutions that provide vulnerable people and authorities financial resources that they urgently need, when a disaster strikes.
The GSSP supports needs-based CDRFI solutions by supporting all activities along the value chain, including:
- Supporting comprehensive climate risk analysis, data and modelling support, as well as project related research as a vital basis for defining needs-based climate risk management and finance strategies as well as to inform the GSSP in the further development of its strategic focus.
- Funding studies and providing advice for the design and development of new concepts and solutions for CDRFI solutions taking into account the specific needs of the poor and vulnerable population.
- Supporting the implementation of innovative climate risk finance and insurance solutions including SMART Premium and Capital support.
Building on proven structures of public-private partnerships developed within the InsuResilience Solutions Fund, the GSSP will leverage the private sector expertise and experience. Offering countries access to the capacity and capabilities of different insurance market actors and intermediaries including insurers, reinsurers, brokers, risk modellers, and service providers but also partners from academia, civil society and the humanitarian sector, the GSSP helps countries to find the best-fit solution.