Challenge Statement: Protecting People, Empowering Planet

How can we reimagine insurance as a force for good—designing innovative products and services that not only protect against risk, but actively accelerate the transition to a sustainable, low-carbon economy?

We invite startups to develop solutions that:

• Advance climate risk intelligence: Harness data, AI, and predictive modelling to assess and mitigate risks from climate-related events such as floods, wildfires, and extreme weather.
• Incentivise sustainable choices: Create insurance models that reward businesses and individuals for adopting green practices—whether through lower premiums, coverage enhancements, or loyalty benefits tied to reduced carbon footprints.
• Embed SDGs into underwriting: Integrate Sustainable Development Goals metrics into risk evaluation, ensuring that insurance capital flows toward responsible and resilient enterprises.
• Drive social impact: Extend protection to vulnerable communities disproportionately affected by climate change, ensuring inclusivity and equity in access to sustainable insurance solutions.
• Innovate beyond traditional coverage: Explore new product categories such as parametric insurance for renewable energy, microinsurance for climate-vulnerable populations, or embedded insurance that supports sustainable consumption.

Why This Matters?

Insurance has the power to shape behaviour and allocate capital. By aligning risk protection with sustainability goals, the industry can become a catalyst for climate resilience and social equity. This challenge is not just about building better products—it’s about redefining the role of insurance in society.