IDF Report: The Development Impact of Risk Analytics

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Risk insight is the foundation on which risk prevention and resilience programmes are built. The good news is that the key ingredients for widespread risk understanding already exist - the science, the computing, the satellite and ground data, the indigenous knowledge, and most of all innovative multi-disciplinary methodologies of risk understanding developed over the last three decades. Yet the world has been unable to move away from a continuous cycle of disaster–respond–rebuild–repeat. Systemic flaws are blocking the flow of risk insight to the risk owners on whom vulnerable communities rely for protection.

The challenge for all sectors and governments is to move from managing disasters to managing the risk itself.  Public sector, private companies, academia and civil society must work together to create standards, share research and adopt replicable best practices. Above all an inclusive, collaborative approach to modelling risk will reinforce local ownership. This will lead to improved policy outcomes and more targeted operational programmes.

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Insurance Development Forum

Number of pages: 

135

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