Swiss Re
The Swiss Re Group is the leading wholesale provider of reinsurance, insurance, and other insurance-based forms of risk transfer. Swiss Re enables insurance companies, mid-to-large-sized corporations, and public-sector clients to take the risks that lead to growth and progress. The insurance provider also works with cities to provide the necessary coverage in the case of an emergency or disaster.
Swiss Re has developed an innovative tool called SONAR, which crowdsources inputs and feedback from underwriters, client managers, risk experts and others to help assess future risks and challenges. Their latest edition from June 2017 informs readers about the challenges of climate change, its effect on water supplies, and particularly its implications for a humanitarian crisis.
To address this in their work, Swiss Re works with governments and public-sector entities to develop risk prevention strategies and ways to finance them. These solutions provide disaster funding in the case of floods, hurricanes, tsunamis, earthquakes, and other natural disasters to protect the most vulnerable and ensure that claims payouts are swift and simple.
Swiss Re also promotes resilience bonds as a way to offer insurance and resilience benefits to disaster-prone cities. As cities and utilities invest in adaptive infrastructure, such as seawalls or flood barriers, they are able to accumulate savings from the reduction in vulnerability, and thus pay a lower risk premium to investors. The resilience bond works on the same principle as a life insurer that offers lower premiums for policyholders that quit smoking and exercise on a regular basis. These resilience bonds improve society’s resilience, and thus improve national and city-wide disaster preparedness
Funding and Finance
Policy Development and Advocacy
Research and Technical Assistance