37
RESILIENCE PARTNERSHIP IN ACTION ARDIS is a joint scheme by VisionFund International, the microfinance arm of development charity World Vision, and Global Parametrics,
WHAT ELSE?
Other legal and regulatory initiatives may come into play as the market for inclusive insurance products expands, for example: 1. Encouragement of perceived best practices by insurance regulators drawing on examples frompilot projects and initiatives trialed in other jurisdictions 2. Sharing of best practice approaches from established successful schemes in developing or developed markets 3. Continued use of regulatory sandboxes to establish a track record for encouraging innovation in financial services by supporting the testing of new technology, products and models All of this will need to be done with a careful eye on the populations served, as part of a toolbox or suite of solutions for resilient risk- management. Paula Pagniez, Director, Capital, Science and Policy Practice at Willis Towers Watson says: “We need to continue working with governments, from the federal to the municipal level, to build awareness of the role that insurance solutions can play in managing societal risks, at times even becoming public goods that complement and/or fill the gaps of not-yet existing governmental programmes, especially to cover the needs of their most vulnerable populations. This will be achieved via technical assistance, insurance education, and the development of tailored risk management solutions to help governments and their constituents to becomemore resilient to growing and evolving risks.”
a new venture backed by the British and German governments. The aim of ARDIS is to
increase access to finance and provide post disaster recovery lending to rural families and smallholder farmers who live below the poverty line and participate in VisionFund’s microfinance charity. It is understood the programme’s size and outreach will meet one percent of the G7’s goal to increase access for up to 400 million uninsured people in developing countries to climate risk insurance.
Made with FlippingBook flipbook maker