INSIGHTS FROM GSSP AND ISF

The InsuResilience Solutions Fund (ISF) is a key implementation programme of the InsuResilience Global Partnership, funded by the German Federal Ministry for Economic Cooperation and Development (BMZ) and implemented by KfW with the Frankfurt School of Finance & Management managing operations. It promotes the development of innovative, financially sustainable climate risk insurance solutions in developing and emerging economies - supporting governments, private sector actors, NGOs, and communities to better manage and transfer climate risks.

For an overview of Climate Risk Insurance product development projects that are currently being co-funded by ISF, check out the world map here: Product Development – InsuResilience
For learnings from projects that have come to a close, see our growing repository of case studies here.

These examples showcase the diversity of climate risk insurance innovations at the macro, meso, and micro levels. From protecting entire regions to empowering local communities and supporting individual beneficiaries, they demonstrate how insurance can be a powerful driver of resilience in the face of climate challenges.

Key features of the GSSP

The GSSP offers a needs-based approach.

As a service platform, the GSSP represents an impartial partner, guiding countries in their understanding of their climate and natural hazard risks and identifying the support needed to address country-specific challenges, in an inclusive manner. The GSSP also offers detailed insight in CDRFI risk analysis and structuring needs-based country programmes for CDRFI solutions. Based on these articulated needs and demand, the GSSP will structure and (co-)finance tailor-made country support programmes taking into account other sources of CDRFI finance.

Support is not limited to the sovereign level, but offers solutions at the macro, meso and micro levels for specific target groups (e.g., farmers, households, SMEs), regions and communities.

The GSSP offers a competitive and flexible approach.

The GSSP will hold competitive calls for proposals in order to identify the best-fit CDRFI proposal and qualified CDRI implementation partners. Based on the country´s request for CDRFI support submitted, the GS-SP will invite a wide range of stakeholders to propose solutions adequate to address the defined financing gap. The GSSP will assess submitted proposals against its eligibility and selection criteria in order to select the best solution in close coordination with the respective partner country.

This competitive and flexible approach helps maximise value for money for donors and partner countries by offering countries a single entry-point to a wide spectrum of implementing partners, existing CDRFI and institutions, including the private sector, NGOs, humanitarian agencies, and civil society.

The GSSP offers a competitive and flexible approach.

Government representatives are involved and engaged in the decision-making process, offering national ownership for all solutions. They are represented in the governing structure and will be involved in selecting the proffered technical solutions to be funded by GSSP.

Support will also consider and address gender disparities and discrimination to ensure gender equality is part of the solution.

The GSSP offers a bundling approach.

The GSSP provides a single-entry point to different sources of funding, ensuring transparency and coordinated and coherent CDRFI support under international common standards and principles agreed upon by the Global Shield against Climate Risk Initiative and InsuResilience Global Partnership.