Description: Despite global commitments, the stark reality is that only 16% of the SDG targets are on track and the annual 2030 Agenda financing gap is $4.2 trillion. While risk is a recurring theme throughout development discussions, the insurance industry’s distinctive risk management and risk transfer capabilities remain significantly underutilized. The industry is a cornerstone of the global financial system, managing assets of over $40 trillion, paying claims and benefits of up to $5.5 trillion annually, and holding liabilities of $36 trillion for future payouts. This webinar will explore how the industry can play a greater role in helping households, businesses, and governments navigate risks, build resilience, and enable transformations from unsustainable to sustainable practices. Leading global experts across the public and private sectors will explore how insurance can drive the transformational innovations required to achieve sustainable development.
Organizers: UN Sustainable Development Solutions Network, Government of Ireland SDG Champion (UCD), UNITAR
Partners: Better Insurance Network, Government of Barbados, Insurance Development Forum, Swiss Re, UN World Food Programme
Date: 30 April 2025
Time: 10h – 11h15 (ET) / 16h – 17h15 (CEST)
Venue: Zoom
CONCEPT
Sustainable development is at risk. Cascading and compounding risks and crises are obscuring our collective vision for a sustainable future, a future where we have successfully transformed our world across the economic, social, environmental, and governance dimensions. Unfortunately, despite global commitments, the stark reality is that only 16% of the SDG targets are on track and the annual 2030 Agenda financing gap is $4.2 trillion.
A revitalized international financial architecture is urgently required to unlock public and private finance towards sustainable development. A whole-of-society approach is crucial. However, while the financial instruments of banks and investors are widely recognized as essential levers of change, the insurance industry’s distinctive risk management and risk transfer capabilities remain significantly underrepresented in development agendas and frameworks.
The draft Outcome document of the 4th International Conference on Financing for Development emphasizes growing risks and the importance of risk management, referencing “risk” 32 times, yet “insurance” is mentioned only six times. This oversight is striking given that the insurance industry is a cornerstone of the global financial system, managing assets of over $40 trillion, paying claims and benefits of up to $5.5 trillion annually, and holding liabilities of $36 trillion for future payouts.
This event will explore how the insurance industry can play a greater role in helping households, businesses, and governments navigate risks, build resilience, and enable transformations from unsustainable to sustainable practices. Leading global experts across the public and private sectors will explore how insurance can drive the transformational innovations required to achieve sustainable development.
KEY QUESTIONS
This event will convene senior leaders and decision-makers from the public and private sectors to explore how insurance can be leveraged more effectively as a tool for sustainable development. Key questions include:
- How does the insurance industry help households, businesses, and governments navigate risks, build resilience, and enable transformations from unsustainable to sustainable practices?
- How are development organizations integrating insurance into their toolkits to quickly and predictably access finance after climate- and humanitarian-related shocks occur, enabling populations to recover and rebuild quicker?
- How does insurance support people to manage catastrophic health expenses and the death of breadwinners, reducing the likelihood of vulnerable populations falling into extreme poverty?
- What actions can policymakers, regulators, development organizations, and (re)insurance companies take to scale the use of insurance in development efforts and build societal resilience?
EXPECTED OUTCOMES
- Launch of the SDSN Position Paper on Insurance and Sustainable Development: This paper will outline the critical role of insurance in risk management, resilience building, and sustainable development, providing actionable recommendations for policymakers and industry leaders.
- Launch of the MOOC on Insurance and the SDGs: Developed in collaboration with Better Insurance Network, SDSN, and UNITAR, and hosted by the SDG Academy, this course will equip stakeholders with the knowledge needed to integrate insurance solutions into development strategies.
- Recommendations to the next draft outcome document of the 4th Forum on Financing for Development (FFD4).
By bringing together key stakeholders, this event aims to foster a deeper understanding of the transformative potential of insurance in the global development agenda and set the stage for stronger partnerships and policies that harness risk management for a more sustainable and resilient future.
HOW TO PARTICIPATE
We kindly ask that participants interested in joining this webinar to please register in advance on Zoom using the link below.
Proposed agenda
10h – 10h15
Opening Remarks & Keynote
- Paul Walsh, Vice President of Education & Director of the SDG Academy, UN Sustainable Development Solutions Network (SDSN)
- Official Representative, Government of Barbados
10h15 – 10h20
Setting the Scene: Sustainable Development and the Insurance Industry
- Lorcán Hall, Senior Advisor, SDG Academy, UN Sustainable Development Solutions Network (SDSN)
- SDSN Position Paper on Insurance & Sustainable Development – A roadmap for integrating insurance into global development strategies.
10h20 – 10h55
Panel Discussion: Rethinking Insurance in Development Finance
Speakers
- Secretary General, Insurance Development Forum
- Lead Advisor for Climate & Disaster Risk Financing & Insurance, World Food Programme
- Global Life and Health Sustainability Lead, Swiss Re
Moderator: Lorcán Hall, Senior Advisor, SDG Academy, UN Sustainable Development Solutions Network (SDSN)
Format:
- Each panelist provides a short (6-8min) intervention
- Moderated discussion
10h55 – 11h00
Q&A
11h – 11h07
Knowledge Spotlight: The role of insurance on advancing the SDGs
- Isabela Carrozza Joia, Program Associate, UN Sustainable Development Solutions Network (SDSN)
- Antony Ireland, Co-founder, Better Insurance Network
11h07 – 11h15
Closing Remarks: The Way Forward
- Paul Walsh, Vice President of Education & Director of the SDG Academy, UN Sustainable Development Solutions Network (SDSN)
