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Prevent, Protect, Provoke

The Insurance Development Forum (IDF) Summit is the global flagship event of the climate and disaster risk finance and insurance community. It brings together members of the Partnership and the wider resilience and development community to debate pressing issues, exchange knowledge and share best practices and innovations. The 2024 Summit will focus on the theme “Prevent, Protect, Provoke”.

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The role of insurance in helping people, businesses and communities better understand and manage risks and shape more resilient and secure societies cannot be overstated. By protecting lives, livelihoods and assets, insurers contribute between USD 5 and 5.5 trillion per annum to global financial resilience in the form of insurance claims and benefits payouts.These claims and benefit payouts represent the largest financial contribution to individual, business and community resilience globally; more than any other source outside of governments. This is in addition to the USD 40+ trillion of assets managed by the global insurance industry which constitutes one third of global assets under management.

Yet, today’s economies and societies are facing unprecedented transformation and uncertainty driven by geopolitical tensions, dramatic demographic changes, technological developments, the legacy impact of covid 19 and a spiralling climate crisis. Against this backdrop is an increasingly interconnected world and a rapidly evolving landscape of systemic risks. This is giving rise to concerns regarding the challenges posed to the traditional insurance business model of risk pooling and redistribution and the implications for access to and or availability of insurance and, particularly so for the most vulnerable and in countries with significant protection gaps.

During the 2024 IDF Summit our aim is to unpack some of these issues and discuss the value of insurance in a changing risk landscape and its foundational role in prevention and protection. As with past convenings, it is also an opportunity to provoke, through challenging our ideas, assumptions and our shared level of ambition regarding the solutions required.

In the lead up to the Summit, the IDF will also be hosting a dedicated knowledge day jointly organised with the World Bank Group for high level Government representatives from low and middle income client countries of the Bank. The aim is to strengthen countries’ understanding of the role of insurance and to pave the way for increased engagement with the insurance industry and its capabilities by delivering best-in-class knowledge to client countries.

As with past IDF Summits, the objective is to deliver actionable outcomes that ensure that insurance continues to be a cornerstone of resilience and development.

Announcements

Speakers

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Michel Liès

Chairman

Insurance Development Forum Steering Committee & Zurich Insurance Group

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H.E Mia Amor Mottley

Prime Minister

Barbados

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Jonathan Dixon

Secretary General

International Association of Insurance Supervisors (IAIS)

Agenda

Under the headline theme Prevent, Protect, Provoke here is the agenda for Day 1 and Day 2 of the IDF Summit 2024.

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Interviews

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Videos archive

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