Solutions Catalyst for innovative risk transfer.
The Insurance for Good Solutions Catalyst is a partnership program with communities, non-profits, or the public sector where we work together on innovation in risk transfer to address social and environmental goals.
The problem.
As the risk of climate extremes increases, it is stressing our property insurance markets as well as our other disaster financing approaches, most of which were designed for a world of lower and stationary risk. In addition, evidence is growing that too many households are slipping through the cracks of our disaster safety net.
In the face of these challenges, innovation to provide more complete and equitable recoveries and drive greater investments in risk reduction and resilience are paramount.
Solutions Catalyst.
Insurance for Good provides the resources, capacity, and expertise to guide partner communities through an intensive solution development program built on our philosophy that risk transfer solutions should be research-informed, community-led, and designed for long-term sustainability.
Achieving impact requires expertise and resources dedicated to risk transfer innovation and deep partnerships with a cross-sectoral team of collaborators—a unique ability of Insurance for Good.
Meet our current Solutions Catalyst partners.
Philadelphia
The low-lying Eastwick neighborhood in Southwest Philadelphia has experienced repeated floods, and climate change threatens to increase the frequency and intensity of these events. Residents struggle to find appropriate and affordable flood insurance protection, leaving them vulnerable to financial hardships after floods. Insurance for Good, the City of Philadelphia Office of Sustainability, and Eastwick United CDC are partnering to assess the feasibility of new and innovative flood insurance products for residents through a Climate Smart Communities Initiative (CSCI) grant.
OneShoreline
We are partnering with the San Mateo County Flood and Sea Level Rise Resiliency District, also known as OneShoreline, to address residents’ flood and wildfire insurance needs. San Mateo County, just south of San Francisco, is facing mounting insurance challenges including decreasing availability, rising prices, and coverage gaps. Through this partnership, we are exploring options to better link insurance and risk reduction. Learn more about OneShoreline’s Home Protection and Insurability Initiative.
OUR PROCESS
Our Solutions Catalyst is guided by two principles: the solution must be community-driven and research-informed.
We follow a five-step process to arrive at viable and impactful solutions:
needs assessment
solutions scan
evaluation
piloting and implementation
learning and refinement