PIISA
Piloting Innovative Insurance Solutions for Adaptation
Project Description
The increasing severity of climate-related disasters underscores the need for stronger adaptation efforts. While physical and organisational measures are vital, financial strategies, such as insurance and risk-sharing solutions, also play a crucial role in mitigating climate risks. Innovative insurance models can encourage proactive adaptation, ensuring both individuals and societies become more resilient. In this context, the EU-funded PIISA project will develop novel insurance solutions that incentivise households, businesses, and public authorities to take adaptive measures. Focusing on agriculture, forestry, and urban resilience, PIISA combines scientific research with real-world demonstrations. With 12 partners and pilot programmes in eight countries, PIISA is pioneering climate-resilient insurance portfolios to protect communities from floods, droughts, wildfires, and storms.
Our Role
Within the PIISA project, we actively contribute to the development of pilot projects in the agri-food sector by facilitating the introduction of parametric and carbon-linked insurance solutions, as well as enabling the real-time provision of climate information to both farmers and insurers. This is achieved through targeted surveys and continuous farmer engagement, ensuring that insurance products and climate data are tailored to their operational needs.
Observatories involved: Fintech & Insurtech Observatory
Consortium
Finnish Meteorological Institute (coordinator), Tyrsky, Barcelona Supercomputing Center, AXA Climate, Stichting CAS, Stichting VU, Fondazione CMCC, Amigo, Sustainble Finance Observatory, Politecnico di Milano, LGI Sustainble Innovation, LocalTapiola
Status
Ongoing
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