Scaling up insurance creates increased investment in the economy, greater social protections for people and reduced budgetary pressure on governments in the event of a disaster. This virtuous cycle of economic benefits creates opportunities for communities in emerging economies to leapfrog towards sustainable development.

The US$33 trillion of assets under management by insurers offers another powerful scaling opportunity to pivot investment towards the Sustainable Development Goals (SDGs).

The UNDP Insurance and Risk Finance Facility (IRFF) will deliver innovative protection solutions in 50 developing countries by 2025. Currently, the facility is operational in 34 countries. We support the development of innovative insurance products and services that are aimed towards vulnerable people and communities while also investing in the long-term transformation of insurance markets. We are working closely with industry partners to deliver policy advice, guidance, tools, methodologies, and networks that boost country and community resilience towards socio-economic, health, climate and other shocks.

The Facility’s work goes beyond insurance supply and demand. It examines legislations, regulatory and institutional capacity development, and invests in advocacy, training and education.