How GSSP Works

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.

Key features of the GSSP

The GSSP offers a needs-based approach. The GSSP offers a needs-based approach.
As a service platform, the GSSP represents an impartial partner, guiding countries and regional risk pools in their understanding on their climate and risks. It structures and (co-)finances support packages based on needs and demand.
The GSSP offers a competitive and flexible approach. The GSSP offers a competitive and flexible approach.
Through competitive calls for proposals, best-fit CDRFI Solutions and Implementation Partners are identified in close coordination with the respective partner country. This helps maximise value for money for donors and partner countries.
The GSSP offers an inclusive approach. The GSSP offers an inclusive approach.
Support is offered in an inclusive manner, with governments and partners engaged in the decision-making process to ensure ownership. All support addresses gender disparities and discrimination, making gender equality part of the solution.
The GSSP offers a bundling approach. The GSSP offers a bundling approach.
The GSSP provides a single-entry point to diverse sources, while aligning with international common standards and principles agreed upon by the Global Shield against Climate Risk Initiative and InsuResilience Global Partnership.
Cookies and Privacy

This website uses cookies to ensure you get the best experience on our website. Please review your cookie settings before you continue.

For more information please see our Privacy Policy.