Integrating Insurance into Development

Current approaches to financing risk, climate change and development are undermined by limited analysis and impact-assessment of shocks, hazards, vulnerability and risk on development. This challenge is deepened by a lack of investment in insurance and risk-finance tools, products and services at the country level. If these barriers remain, development will remain susceptible to crisis at every turn.

SDGs advanced by this workstream

All 17 SDGs are relevant for this workstream

25%

of country contributions at COP23 included climate risk insurance as a key tool in delivering action on climate change

2.78%

Insurance penetration in Africa

7.23%

Insurance penetration global average

150

Million

people have fallen back into poverty since the start of the COVID-19 pandemic

UNDP / Morocco

Transform how countries finance risk management, climate action and development by working closely with industry and governments.

UNDP Action

A major increase in the utilisation of insurance and risk finance to better financially manage risk is needed.

Our work with industry and government comprehensively integrates insurance and risk-financing into the way countries financially manage their risks and build long-term financial resilience, with a focus on integrating modelling and analysis of the impacts shock and risk on development and development finance.

UNDP Action

Our partners in integrating insurance into development