In the episode titled "How Parametric Insurance is Protecting Communities in Fiji Against Cyclones and Flooding," Buri shared her insights into the development and impact of parametric insurance solutions in the Pacific region.
Buri highlighted the significance of parametric insurance as a tool for building resilience among vulnerable communities, particularly in Small Island Developing States (SIDS) like Fiji. She also emphasized the importance of a collaborative approach: "It takes an ecosystem of public and private partners to build a market for climate risk insurance."
Throughout her discussion, Buri explained how parametric insurance provides quick payouts based on predefined triggers, such as wind speeds during cyclones, which enables communities to recover faster from disasters. She also discussed the role of digital platforms in ensuring that insurance solutions reach remote and underserved areas efficiently.
Buri works on the Pacific Insurance and Climate Adaptation Programme (PICAP), which is jointly administered by the United Nations Capital Development Fund (UNCDF), the United Nations Development Programme (UNDP) and the United Nations University Institute for Environment and Human Security (UNU-EHS), and aims to improve preparedness and resilience in the Pacific by developing and implementing products like parametric insurance for countries in the region.
Listen to the full episode on Spotify, Apple Podcasts and YouTube Music.
