We’re transforming the insurance system to make insurance accessible and effective for people on the climate crisis frontline, helping them protect their futures.
A new not-for-profit, set up with the backing of the insurance industry, which empowers communities to build climate resilience through financial resilience.
We achieve this by using private and philanthropic capital at scale to help people on the climate crisis frontline access and pay for new forms of insurance. The financial protection insurance provides empowers people to invest in everything from education to new farming techniques.
This means that failed harvests don’t steal childhoods. Sick livestock don’t become lost livelihoods. And disasters don’t descend into crises.
Humanity Insured unlocks private sector and philanthropic capital. This helps communities on the climate frontline access insurance that works for them by directing funds towards:
We fund a portion of the insurance premium for climate insurance that prepares and protects frontline communities. And help create capital pools that are immediately disbursed to people when a climate event occurs.
We help communities understand the future climate risks they face, empowering them to make informed decisions on how to best adapt and prepare.
In conjunction with insurance protection, we fund communities’ access to assets or training that build resilience and reduce the impact of climate on livelihoods.
Insurance has provided smallholder farmers across sub-Saharan Africa with financial security. This has kickstarted a virtuous cycle of investment and growth – for them and their families. Programmes that subsidise comprehensive smallholder crop insurance have shown that farmers with insurance save up to twice as much as those without, invest more in seeds, fertilizers and other productive assets, and continue paying for school fees after a drought or flood.
Increasingly frequent and severe climate crises disempower people whose lives and livelihoods are climate dependant. Women’s cooperatives in India and international NGOs have enabled informal women workers to use insurance to protect themselves from soaring temperatures. When heat conditions that result in negative health outcomes are reached the insurance immediately triggers a payment to each woman’s bank account to compensate for the loss of income due to unsafe working conditions. This insurance has given women financial protection, empowering them to make choices for them and their families futures.
New technology and parametric insurance means that now – more than ever before – insurance can work for those on the climate frontline. In Fiji, the local insurance sector has worked with UN Capital Development Fund to provide parametric insurance to protect members of nine cooperatives from storms that impact livelihoods.
In January 2023 heavy rainfall triggered a $100,000 payout which the farmers, fishers and MSMEs received into their mobile wallets 10 days after the rainfall, enabling the communities to recover and re-build after the storm.
