Climate variability, the increased frequency and severity of certain extreme events, and the growing vulnerability of modern societies to natural hazards have thrown down the gauntlet, challenging us to adapt to climate change. Tackling and addressing the associated risks is a global and shared responsibility.
At SCOR we are working on model interpretability because we believe that we have a duty to provide every applicant with transparent risk assessments that provide them with a path forward to understand an outcome.
In the last few weeks, we’ve seen a massive shift in our industry as clients and partners have worked tirelessly to support life insurance applicants and distributors, since traditional fluid-based underwriting protocols have been severely disrupted. As an organization, SCOR has been committed to reinventing the underwriting process through our Underwriting Reimagined strategy.
Blue Marble at the SCOR Annual Conference 2018: Bringing insurance to the underserved
Speaking at the SCOR Annual Conference 2018, Joan Lamm-Tennant, CEO and Founder of startup Blue Marble Microinsurance, launched in 2015, talks about the company’s mission to bring insurance solutions to the poor.
“If you want to go fast, go alone; if you want to go far, go together”. For Joan Lamm-Tennant, CEO and Founder of Blue Marble Microinsurance, this African proverb perfectly illustrates her company’s philosophy.
With the aim of providing socially impactful, commercially viable insurance protection to the underserved, Blue Marble incubates and implements microinsurance ventures that advance food security, financial inclusion and microentrepreneurship. It is a consortium of nine insurance entities, each owning equal shares of the company. These entities compete against each other on the traditional markets, but have realized that if they want to be able to extend insurance to the bottom of the economic pyramid, they must collaborate.
Blue Marble has launched two microinsurance ventures in the agricultural sector, in Colombia and Zimbabwe. Both ventures rely on a bottom-up approach, working with experts from both inside and outside the insurance sector to determine the exact needs of insureds and implement suitable, innovative solutions.
Coffee plantation in Colombia and maize field in Zimbabwe supported by Blue Marble’s ventures