Efficient and timely payout following major disasters supports immediate post-disaster emergency relief, helping to mitigate the negative impact of disasters on economic activities and future fiscal costs. SEADRIF offers parametric insurance products tailored to the needs of its member countries.
Effective financial risk management of public assets is key in protecting countries against climate and disaster risks. SEADRIF’s Public Asset Financial Protection program provides analytical, advisory, and financial services to support the development and implementation of comprehensive public asset financial protection strategies.
Supporting SEADRIF members to build the required capacity in their governments is a key step to creating sustainable and well executed financial protection strategies. SEADRIF is developing multi-year programs of targeted trainings, peer learning, and strategic knowledge exchange to equip relevant stakeholders with the knowledge and skill set to build financial resilience.
SEADRIF provides advisory services that help countries design financial instruments tailored to their specific risk profiles. These services are closely aligned with SEADRIF’S strategic outcomes to become the preferred center of excellence for climate and disaster risk finance—facilitating the efficient flow of expertise, solutions, and capital to the ASEAN region—and to work with members to customize solutions and services that help overcome market failures slowing down public risk financing in the complex ASEAN institutional landscape.
Scaling and enhancing insurance initiatives in the Philippines
In 2024, SEADRIF strengthened its collaboration with the Philippines’ Department of Finance, along with key agencies such as the Bureau of the Treasury and the Government Service Insurance System. A joint work plan was developed to scale insurance initiatives and enhance financial resilience. Priority projects include upgrading the National Indemnity Insurance Program to better protect hospital infrastructure and equipment, ensure rapid payouts for service continuity, and improve the strategic use of international reinsurance and broking services.
