In June 2025, the Insurance Development Forum (IDF) held its annual Summit in Venice, Italy. As the host city, Venice provided an apt context based on its past and future. Some of the earliest insurance contracts were drawn up in Venice. In more recent times, the impact of climate change has led to an increase in flooding in the city. Over the last 100 years, the city has sunk by around 15cm. While Venice has taken significant steps to manage flood risk, its long-term existence remains threatened by higher sea levels.
The event brought together public and private sector organisations involved in growing the global use of climate and disaster risk finance, and insurance (CDFRI). This year’s Summit was special: the IDF celebrated 10 years of operations and achievements. This was reflected in the event’s theme – “Celebrating 10 years: Imagine the possible” – whose aim was to inspire the CDRFI community to continue taking action over the next decade and beyond.
The Microinsurance Network (MiN) is an IDF partner, with MiN staff regularly attending the IDF’s annual fixture. The relationship between the two organisations is particularly close: the IDF has a staff member positioned within the MiN’s Secretariat in Luxembourg. Too often, it is not always clear what both organisations do together in the same space, what their respective roles are when working together and whether they overlap – if at all. In reality, they share a special relationship.
What is the IDF’s role in the wider microinsurance space?
The IDF is a unique global public–private partnership. Led by the insurance industry and co-chaired by the UNDP and the World Bank, it brings together key actors from multilaterals and civil society. Together, they focus on growing the use of insurance and risk financing to build resilience to climate change, natural hazards and systemic risks. Its work spans different layers, from sovereign schemes to microinsurance – all with a strong emphasis on reducing the protection gap in Emerging Markets and Developing Economies (EMDEs).
“While both the MiN and the IDF are working toward similar goals of expanding insurance in low- and middle-income countries, we come at it from different angles and with different strengths.” Matthew Genazzini, Executive Director, Microinsurance Network “The IDF sees inclusive insurance as essential to building Future Ready Nations, where vulnerable communities are protected against the shocks of climate and other disaster risks.” Ekhosuehi Iyahen, Secretary General, Insurance Development Forum |
How did the partnership between the MiN and IDF come about?
To deliver impact, the IDF collaborates closely with several global institutions: one of these is the Microinsurance Network (MiN). The partnership between the MiN and the IDF formally took shape in 2020. The IDF Secretariat, the MiN, the UNDP, AXA, the InsuResilience Secretariat (now the Global Shield Secretariat) and other industry players came together to design a proposal that would strengthen the IDF’s inclusive insurance agenda, led by its Inclusive Insurance Working Group, supported by the MiN’s expertise, data, and global network.
Box 1 – Understanding the IDF’s Inclusive Insurance Working Group
Within the IDF, the Inclusive Insurance Working Group (IIWG) plays a focused role in advancing micro- and meso-level insurance solutions. Co-chaired by representatives from Global Shield, AXA EssentiAll and CGAP, the group focuses on expanding insurance access for vulnerable populations while aligning with national and global resilience priorities. Its 2025–2030 strategy aims to scale inclusive models, influence enabling regulatory frameworks and develop global indicators for measuring progress (using the MiN’s Landscape of Microinsurance). Beyond technical innovation, the IIWG also works to mobilise donor funding and integrate microinsurance in comprehensive risk financing ecosystems. This ensures that coverage for vulnerable groups is not treated in isolation but as part of a continuum with sovereign and humanitarian insurance solutions. The IIWG’s work demonstrates how global collaboration can translate into local action, mobilising resources and aligning stakeholders toward shared resilience goals. |
A key decision was to place the Insurance Working Group coordination role within the MiN Secretariat. The aim was to give inclusive insurance considerations a sustained voice in the IDF’s global public–private dialogue. Supported by the BMZ, the UNDP’s Insurance and Risk Financing Facility, and the IDF Secretariat, this helped to set the stage for a collaboration that has since grown into a meaningful and visible part of the IDF’s work. Inclusive insurance solutions have a greater opportunity to be both commercially viable and aligned with broader development goals.
The MiN and the IDF have been collaborating across a range of initiatives
The IDF IIWG’s strategy, though somewhat similar to what the Global Shield is now trying to do, has a narrower focus on microinsurance. Like the Global Shield, this includes taking stock of existing inclusive insurance in specific countries, identifying the gaps for scaling and creating a marketplace of projects to be matched with sources of funding. The IIWG started the work in Indonesia, Kenya, the Philippines, and Senegal. Country workshops took place with IIWG members and other local organisations, which led to diagnostic reports being published.
“Often simply by bringing actors together under a structured format, we revived dormant inclusive insurance agendas, fostered dialogue, and sparked partnerships, showing the value of the Microinsurance Network as a convening platform.” Pedro Pinheiro, Knowledge and Strategic Partnerships Manager, Microinsurance Network; and Inclusive Insurance Working Group Coordinator, Insurance Development Forum |
When the Global Shield was launched, this microinsurance-focused work was integrated into the broader climate and disaster risk financing agenda. This prompted the IIWG to align its country focus with that of the Global Shield. The MiN and IDF have also been supporting the Global Shield in its engagement with local players. This includes support to in-country Global Shield processes in Bangladesh, Costa Rica, The Gambia, Ghana, Malawi, the Pacific Islands, Pakistan, Peru, the Philippines, Rwanda, Senegal and Somalia. Many of these countries are now progressing toward formal country requests to the Global Shield or even project implementation.
The MiN remains an important convener – both for Global Shield processes and other initiatives. Members of the MiN and the IIWG have often been called upon during Global Shield in-country interactions. Their contributions have ranged from highlighting their initiatives, contributing to gap assessments and guiding the content of briefing meetings. MiN members have also been involved in several high-level forums and policy dialogues. Access to some of these has come because of partnerships formed through the IDF with major global private sector organisations.
Why the overlap between the MiN and the IDF leads to complementarity
With the MiN and the IDF both focusing on microinsurance, is there much overlap between their efforts? Their respective strengths would suggest not. The MiN is primarily a network, whose value lies in connecting people, sharing knowledge and convening stakeholders around inclusive insurance – often at the grassroots level. On the other hand, the IDF’s strengths are its focus on implementation and its convening power at the highest levels. It brings together global private sector leaders with governments, development partners and multilateral international organisations.
Over the years, the MiN and the IDF have built a collaboration where both organisations bring in their respective strengths to work effectively and deliver impact. Rather than duplicating efforts, each organisation is actually building on the other’s work to deliver the collective mission of closing protection gaps.