Supporting Adaptation Capacity through Increased Parametric Insurance Penetration in Africa
OBJECTIVES:
- Equip states to forecast, assess, and manage the impacts of natural disasters on vulnerable populations
- Provide timely post-disaster support for vulnerable populations that promote financial resilience
Duration:
2024-2027
Budget:
NOK 50 million
Target countries:
Cameroon, Cabo Verde, Democratic Republic of Congo, Ghana, Kenya, Malawi, Mozambique, Rwanda, South Sudan, Zambia
OVERVIEW:
ARC Ltd’s SACPIP-Africa programme, with financial support from Norway through Norad, is focused on strengthening disaster risk management systems and expanding parametric insurance coverage across Africa. The initiative supports African Union Member States in forecasting, planning for, and responding to climate-related disasters through targeted capacity building and technical assistance.
By enhancing institutional readiness and offering smart premium subsidies, the programme aims to increase insurance uptake and reduce reliance on delayed humanitarian aid. This proactive approach ensures faster response, protects development gains, and strengthens the financial resilience of vulnerable populations.
KEY OUTCOMES:
- Enhanced DRF integration and understanding of DRF into overall Disaster Risk Management strategies.
- Enhanced disaster preparedness and capacity to forecast, assess and plan for natural disasters through integration of ARC Ltd tools into EWS.
- Expand DRF through participation in Risk Pools and single and multi-peril coverage.
- Provide timely post-disaster support for vulnerable populations through ARC Ltd
REPORTS AND MEDIA: