Reimagining Insurance Markets for a More Resilient Future
New White Paper from InnSure
Toronto, ON (Feb. 1, 2025) — InnSure, the mission-driven nonprofit dedicated to harnessing the power of the insurance industry to combat climate change, is proud to announce the release our comprehensive white paper, A Bold Reimagination of Insurance Markets: Why It’s Needed and How to Get There.
As climate risks escalate and protection gaps grow, our traditional risk financing systems are struggling to meet society’s needs. This white paper presents a critical analysis of current market failures and, more importantly, charts a bold path forward through cross-sector innovation and collaboration.
Key insights from the paper include:
- Why existing insurance and risk financing models are becoming increasingly misaligned with emerging risks
- How siloed approaches between public and private sectors are creating critical protection gaps
- A framework for reimagining insurance markets through community up innovation focused pilots and demonstration projects that integrate both physical and financial resilience adaptations
- The urgent need for catalytic capital to drive innovation, particularly in establishing Community Development Reinsurance Institutions (CDRIs) – building on the successful model of CDFIs in the lending space
The challenges we face demand unprecedented cooperation across sectors and concrete steps for transforming risk financing to better serve all communities. As leaders in insurance, government, civil society, and innovation, we each bring essential perspectives and capabilities to this transformation. But we must act now – the cost of maintaining the status quo grows daily.
We invite you to download the white paper and join us in this crucial conversation about the future of risk financing. Your insights and leadership are vital to creating insurance markets that truly work for everyone.
About InnSure
InnSure is a mission-driven nonprofit at the intersection of insurance innovation and climate change. By amplifying and accelerating climate-friendly insurance solutions and innovation, InnSure is catalyzing a quick, bold, and decisive insurance industry response to climate risk. The organization views its mission through a societal lens, looking for nature-positive ways that insurance can make the world better, create new markets, close the protection gap, increase community resilience, and accelerate the transition to carbon net zero. Through initiatives like the annual InnSure Climate Forum and the NYSERDA-supported Insurance Innovation for Climate-Technology Solutions program, the InnSure ecosystem is designed to foster collaboration between insurance professionals, policymakers, communities, entrepreneurs, risk capacity providers, investors, and stakeholders. For more information, visit innsure.org.
Source: InnSure
Tags: InnSure, resilience, whitepaper