Call for applications - the 3rd Inclusive Insurance Innovation Lab
What is it about?
The 3rd Inclusive Insurance Innovation Lab (iii-lab) 2021-2022 is an international capacity-building programme where 3-4 country teams composed of key stakeholders from the insurance sector will work on innovative insurance solutions to tackle one of the greatest global threats of our time – the impact of climate change, especially on the most vulnerable segments of the population. The iii-lab is a unique opportunity to foster change in insurance markets by:
- Enabling dialogue and mutual learning amongst key stakeholders of the inclusive insurance sector
- Equipping participants to take leadership within their sector and/or organisation
- Inspiring participants to take action and supporting initial implementation
The iii-lab will be guided by the following question:
How can we help to increase resilience of the most vulnerable segments in our society against the impacts of climate change through innovative insurance solutions?
Supervisors will have the opportunity to learn about emerging international climate risk insurance solutions from international experts. Peer-exchange with other country teams is another key benefit of involvement. In addition, the iii-lab gives supervisors the opportunity for personal development and strengthened leadership skills.
Throughout the change process, supervisors will be accompanied by a highly experienced change facilitator to equip participants to take leadership within their organisation.
Watch the video to find out about the journey of the first iii-lab.
When and where?
The iii-lab will take place from September 2021 to September 2022. During this time, it is essential that all participants attend all the planned workshops and meetings, whether in-person or virtual: national and international meetings and virtual sessions (approximately 20 days in total). The precise dates and locations of the workshops will depend on which countries are selected and on the respective Covid-19 situation. In addition to participating in the national and international workshops, participants are expected to dedicate time between the meetings for exchange within their country team, to actively participate in regular meetings of the country team, as well as in the design and implementation of the insurance innovations for building climate risk resilience (approximately 2-3 days per month).
Who can apply?
Supervisory authorities apply on behalf of the country teams. The teams will be composed of representatives from approximately eight institutions including:
- Insurance supervisor and regulator
- Insurance associations
- Industry representatives (brokers/intermediaries, MFIs etc.)
- Policymakers (Ministry of Agriculture, Ministry of Finance, etc.)
- Tech representatives (satellite data, MNO, etc.)
- Consumer representatives (women’s association, farmers’ associations, etc.)
- Other stakeholders perceived to be essential in the jurisdiction.
For each institution, up to two representatives can participate: at least one executive-level and possibly one high-potential mid-level staff member. A gender balance should be aimed for within the country teams.
Please note: supervisors do not need to have the country team ready at the time of the application. A2ii will accompany selected insurance supervisors in putting together the country teams.
How to apply
To apply, insurance supervisors should send:
1. A letter of endorsement from the Head of Authority (i.e. Insurance Commissioner)
2. A one-page letter of motivation guided by the following questions:
- What keeps you up at night when you think about climate change impacting your country?
- What is working well and what not so well in the insurance sector when it comes to managing climate risks and building resilience?
- What is in it for you? What motivated you to apply to join the iii-lab?
- If there was one innovation or change that would come out of the iii-lab for your country what would you like that to be? (i.e. What are you expecting to get out of the iii-lab?)
- We have a limited number of seats - Why your country and not someone else? What do you think you have to offer to the international work of the iii-lab?
Please send these documents to firstname.lastname@example.org before 28 May 2021. Short-listed supervisors will be invited to a video interview.
The following selection criteria will guide the selection process:
- An understanding of the climate change and disaster-related risks and issues in their jurisdictions and the role of insurance in addressing them;
- Regional diversity;
- Supervisor demonstrates motivation to participate in the iii-lab actively, is committed and has the support of the Head of Authority;
- Supervisor demonstrates openness to search for new solutions collaboratively with other stakeholders;
- Insurance supervisor convincingly demonstrates that the country team will have the ability to sustain any initiated processes after the one-year iii-lab comes to an end; and
- The country has the potential to act as a role model and catalyst in the region.
There are no participants’ fees for the iii-lab. However, participating country teams are expected to cover the costs for flight and accommodation during in-person lab meetings. The international workshops are to be hosted by a country team member. Individual country team members unable to cover the full costs of participation in the international workshops* can apply for a limited number of scholarships. All other costs related to the process outlined above will be covered by the A2ii.
Teresa Pelanda, iii-lab Project Manager at email@example.com
Visit the iii-lab website
* If the Covid-19 situation allows, the second and third international workshops could be in-person events.
In partnership with: