Actuaries in Bridging the Climate Protection Gap

In a world of rising climate risks, the world’s poorest countries and communities continue to face the highest exposure with the fewest resources to recover. Low-income populations contribute little to global carbon emissions, yet they suffer the most from extreme weather events. Additionally, they often remain outside the reach of traditional insurance markets. This video explores how actuaries can help close the protection gap through inclusive insurance or microinsurance. Designed with affordability and accessibility in mind, microinsurance can provide timely support to those most at risk. However, for many, even smaller premiums remain out of reach, especially when their basic survival needs are the priority. Scaling microinsurance calls for a transformation in how they are financed. Climate Reparation Pools offer one approach where high-emission industries or wealthier nations contribute to support coverage for communities highly impacted by climate risk. By combining actuarial expertise with innovative financing, we can move beyond simply repairing losses to building true resilience. Actuaries have the tools to design sustainable solutions, quantify risk, and extend protection to those who need it most.