Can parametric insurance mitigate Africa's climate risk?
Communities in Africa living in extreme poverty are highly vulnerable to natural disasters. Could parametric insurance help to build climate resilience?
Lesley Ndlovu is Chief Executive Officer of African Risk Capacity (ARC), a specialized insurance company that provides parametric insurance coverage against weather-related risks such as droughts, floods and tropical cyclones. Prior to ARC, Ndlovu held senior leadership positions in the financial services sector in Bermuda, Singapore, France, the United Kingdom and South Africa. He is a member of the Board of Directors of the UN Principles of Sustainable Insurance. Under his leadership ARC underwrote the largest insurance pool in the history of the company, providing insurance coverage to 12 million Africans who are vulnerable to the devastating effects of natural disasters.
Communities in Africa living in extreme poverty are highly vulnerable to natural disasters. Could parametric insurance help to build climate resilience?
Women are heavily involved in agriculture in Africa, They must be included in governments' climate resilience, response and recovery strategies.