CFAs: Insurance Innovation Challenge Hackathon Support Services (Ethiopia)

The focus areas, of this initiative include insurance innovation, risk finance solutions, inclusive insurance market development, sovereign disaster risk financing, knowledge generation, policy advocacy, integration into national development frameworks, institutional strengthening within government, public-private partnerships, ecosystem building, localized technical capacity building, and the development of resilient insurance solutions for households, businesses, communities, and nature.

The United Nations Development Programme works to address poverty, inequality, and climate change by supporting integrated solutions across 170 countries. Through its Insurance and Risk Finance Facility, the programme helps countries build financial resilience and manage evolving risks. The Facility is active in multiple countries and works closely with governments and the insurance sector to develop tailored financial protection systems for diverse stakeholders including households, businesses, and environmental systems.

In Ethiopia, the programme is structured around several interconnected work areas that support the development of a strong insurance and risk finance ecosystem. These include knowledge generation and advocacy to strengthen policy dialogue, inclusive insurance market development to enhance institutional capacity and product innovation, sovereign disaster risk financing through advanced modelling and funding approaches, and integration of risk finance into national climate and development frameworks. Additional areas include institutionalization within government structures, strengthening public-private partnerships to support sustainable insurance models, and building local technical expertise to ensure long-term market sustainability.

The Insurance Innovation Challenge Hackathon aims to promote innovative insurance solutions that address underserved markets and vulnerable populations. It focuses on developing inclusive insurance models that leverage technology, new distribution systems, and strategic partnerships to expand access to financial protection.

The initiative also seeks to enable local insurers and private sector stakeholders to design and implement tailored insurance products and services that respond to emerging risks and development needs. It further emphasizes knowledge sharing and the creation of guidance materials to support the replication and scaling of successful insurance innovations globally.

For more information, visit UNDP.