Global climate insurtech IBISA and VisionFund, the financial empowerment and livelihood arm of World Vision, have launched ClimaCash+, a suite of parametric climate insurance products aimed at helping communities vulnerable to climate risks respond quickly, even before a disaster strikes.
ClimaCash+ was created in response to the increasing frequency of extreme weather events due to climate change, which is creating unprecedented challenges for communities worldwide. From devastating floods to severe heatwaves, these events cause significant damage and leave vulnerable individuals and businesses without the financial support needed for relief.
ClimaCash+ provides a fast and straightforward solution for communities affected by climate events.
With quick payouts triggered by specific weather conditions, this program is designed to enhance financial resilience and improve disaster response.
The program was recently launched in Kenya and will serve as a model for expansion into other regions facing similar climate challenges. IBISA and VisionFund are working with local partners to ensure the program’s success and long-term sustainability.
ClimaCash+ offers immediate cash assistance for communities and businesses impacted by floods, heatwaves, heavy rainfall, and drought. Each product uses parametric triggers—data-driven indicators that activate payouts as soon as certain conditions are met. This ensures a fast, transparent process, helping communities and businesses address urgent needs and begin recovery more effectively.
Through this collaboration, IBISA and VisionFund aim to strengthen the financial stability of vulnerable communities facing climate risks. By working together, they can expand their reach and ensure that ClimaCash+ products are accessible through local channels, making it easier for those in need to get support. With this partnership, IBISA and VisionFund are taking a major step toward closing the protection gap for those most at risk from climate change.
María Mateo, CEO of IBISA, explained, “At IBISA, our vision is to make climate insurance mainstream, bridging the protection gap and enhancing resilience in underserved markets.”
Mateo added, “This new category of products is designed to simplify and expand access to protection for vulnerable communities. Our partnership with VisionFund highlights our shared commitment to innovation, and we believe ClimaCash+ has the potential to be a true game-changer in the realm of climate insurance.”
Solène Favre, Global Insurance Director at VisionFund, said, “With our innovative climate insurance initiative, we’re not just protecting livelihoods; we’re cultivating resilience. By adapting hospicash to climate challenges, we’re empowering vulnerable communities to weather the storms of change and grow stronger. This is more than insurance—it’s an investment in a sustainable future.”
