United Nations Capital Development Fund (UNCDF) in partnership with the United Nations Development Programme (UNDP) and the United Nations University Institute of Environment and Human Security (UNU-EHS), has developed the Pacific Insurance and Climate Adaptation Programme (PICAP), aiming to prepare pacific households, communities, small businesses, organizations and governments financially for climate change and natural hazards.
The PICAP Programme through its Inclusive Insurance Innovation Lab (a platform for PICAP to support market innovations for bringing new disaster risk insurance products to the Pacific markets) calls for application from financial service providers, FinTech/Insurtech firms, civil society organizations, Startups with an existing product, training institutions, agent or distribution management firms.
Applicants are to present a proposal on thee themes :
- new parametric insurance product, especially for MSMEs and agriculture sector, in any of three markets in Fiji, Tonga and Vanuatu;
- improving access and use of disaster risk insurance and financial products by women, in any of three markets in Fiji, Tonga and Vanuatu; and
- testing and launching disaster risk insurance products in Tonga and Vanuatu.
15 implementing partners across the three countries will be supported with performance-based grants (PBAs) and technical assistance by de-risking their investments and supplementing their project teams with experts who have the know-how in delivering inclusive insurance and digital financial services in the Pacific markets.
Up to $1.5 million will be invested in select innovative approaches and business models under the themes. The financial grant range between 25,000 to 250,000 USD. Selected applicants will sign a Performance-Based Agreement Grant (PBA) with UNCDF.
Interested and eligible Fintech and Innovations organizations and startups can apply here before 14th March, 2022.