Risk and Insurability Planning Assessments for Communities

Insurability Planning Made Easy

InnSure partners with communities to close protection gaps through community innovation pilots. Our community partners are crucial, serving as real-world environments where insurance innovators with support from our ecosystem of innovation partners can pilot and test impactful solutions. Creation Labs Innovators are developing a full spectrum of risk transfer solutions including innovative insurance products, distribution strategies, public/private capital stacks, advanced analytics and often with embedded enabling technologies.

This cooperative approach enables communities to generate ideas and collaborate with innovators, accelerating solution development. Together, we can actively simultaneously lower risk and shape local insurance markets to cater to the unique needs of the communities.

Communities can access community specific Insurability Planning support including risk, insurance market and total cost of risk analysis. Planning engagements start from $30,000 depending on the scope and nature of the engagement. Communities may be eligible for program subsidies from InnSure innovation partners.

Executive Summary

Our technology enabled Total Cost of Risk assessments provide actionable insights for communities to help them optimize investments in physical and financial resilience and leverage investments in disaster risk reduction to shape insurance markets to be more affordable and accessible.

Scope of Work & Methodology

Stakeholder Discovery: In-depth interviews (~12-18) with key community leaders, utility representatives, insurance professionals, and residents

Data Analysis: A high-level review of available risk, resilience, and insurance data related to implementing a Total Cost of Risk decision making framework

Market Research: Analysis of current insurance landscape and innovative solution providers

Strategic Synthesis: Development of actionable recommendations for enhanced insurability and integration of insurability plans into economic development plans

Community & Region Specific Deliverables

  • Hazard Analysis Report

  • Community Resilience Assessment

  • Insurance Landscape Analysis

  • Community Insurability Strategy Recommendations

  • Insurance Innovation Report

  • Harmonized Regional Report

Typical Project Plan & Activities

  • Discovery and Data Collection

    • Stakeholder interview scheduling and execution

    • Data collection and preliminary analysis

    • Community site visits

  • Analysis

    • Data review and analysis

    • Market research and innovation mapping

    • Draft report development

  • Strategy Development and Communication

    • Community-specific strategy formulation

    • Regional synthesis and coalition framework development

    • Final report delivery and presentation

Stakeholder Interviews

COMMUNITY

  • Elected Officials

  • Emergency Services leadership

  • Economic development officials

  • Local business leaders

  • Resident Representatives

  • ]Regional Stakeholders

REGIONAL

  • State regulators, em response and environmental agencies

  • Infrastructure (e.g. Utilities) representatives

  • Insurance industry professionals & regulators

  • County emergency management officials

  • NGO and community organization leaders

Expected Outcomes

  • Comprehensive approach to integrate insurability planning into economic development and resilience planning.

  • Improved insurance market access and affordability

  • Enhanced community preparedness and response capabilities

  • Unlock resilience funding and partnership opportunities