Impact

A lack of access to meaningful risk data and financial solutions has created a massive protection gap in emerging economies. This gap inhibits investment and hampers resilience, which in turns hurts the poor and vulnerable who suffer the most when there is a natural disaster. GP provides the much needed information and financial tools so that communities can respond and recover quickly in the face of disasters.

One of the first things we did as a team to was to identify those United Nations’ Sustainable Development Goals (SDGs) where we believe we can make a difference. We hope to actively improve life in developing economies consistent with the following five SDGs:

No poverty

Financing made available during disasters reduces poverty by providing a financial cushion that keeps kids in school and workers employed

Gender equality

Many of our counterparts serve a predominantly female clientele; our products can provide a direct benefit to the well-being of women and their families in the event of a disaster

Climate action

As the intensity and frequency of weather events increases with climate change, GP’s financial products and data analytics contribute to better planning and quicker responses. This includes specific hazard analysis such as drought, tropical cyclone, seismic and extreme heat

Partnerships

A core objective of GP’s business development strategy is to partner with relevant organisations in humanitarian relief, the corporate sector, NGOs and governments to enable them to better service their constituents

Industry, Innovation and Infrastructure

Financial protection results in business resilience and rapid recovery following disasters, often at a lower cost than traditional disaster response approaches
To demonstrate the benefits that our approach brings to communities, GP will actively monitor and report on outcomes that can be attributed to its work. We will assess how the use of improved weather data helps institutional clients and their customer base to make better financial decisions. We will pay out reliably and rapidly in the case of a natural disaster striking and we will collaborate with our institutional clients to learn how the availability of rapid response payments contributes to relief and rebuilding efforts.

The institutions with which we do business are also committed to improving the security of their customers, so we look to partner with them for the purpose of preparing case studies, reviewing outcomes and sharing lessons learned. Global Parametrics is also active in the broader development community, contributing to an understanding of climate risk analysis and how to support the poor and vulnerable to become more financially resilient as weather events become more frequent and intense.