Risk Talk, an interactive part of the Fiji Clearing House for Risk Transfer

The InsuResilience ”Global Partnership for Climate and Disaster Risk Finance and Insurance Solutions"" was launched at the UN Climate Conference COP23 in Bonn in November 2017. The Global Partnership builds on the efforts of the G7 InsuResilience initiative launched during the Elmau Summit in 2015, which aims to increase insurance coverage against climate risks in developing countries to up to 400 million additional people by 2020.

The key objective of the InsuResilience Global Partnership is to enable countries to react more quickly and reliably after a disaster and to enable them to better prepare for climate and disaster risks through the use of risk financing and insurance instruments. Implementation of InsuResilience on the ground involves close partnerships between states and partners in developing countries. In this context, InsuResilience also has the task to connect people, organisations and politicians to increase awareness and knowledge about climate risk insurance. The project proposal for the InsuResilience Secretariat explicitly makes a connection to the Executive Committee of the Warsaw International Mechanism for Loss and Damage (Excom) and its clearing house in decision 1/CP.21 para 48 (Paris Agreement).

In addition, the objective of the clearing house is to serve as a repository for information on insurance and risk transfer that facilitates the efforts of Parties to develop and implement comprehensive risk management strategies. In order to have a catalytic effect in addressing loss and damage, this information needs to be demand driven and based on and linked to comprehensive risk management needs, including processes of risk reduction and adaptation strategies at regional and national levels. In line with the functions of the Warsaw International Mechanism, the clearing house has three main objectives to: (1.) Enhance understanding, (2.) Improve policy coherence, (3.) Enhance action and support. These objectives have strong synergies with the knowledge management pillar of the InsuResilience Secretariat.

The structure of RISK TALK

RISK TALK is an interactive and knowledge-sharing tool on climate risk transfer solutions. It is a user-friendly online platform aimed to connect people of various expertise and skills on the topic of climate risk transfer. RISK TALK uses artificial intelligence technology to provide tailored answers to registered users questions. The technology is based on a self-learning algorithm, and it connects interested people with little or no expertise with experts from all over the world.