GAIP and Convergence to boost capacity in climate health strategies

Both parties aim to promote blended finance.

The Global Asia Insurance Partnership (GAIP) and software company, Convergence, have partnered to promote the role of the insurance sector in supporting climate-resilient health outcomes in developing countries through blended finance.

A central output of the collaboration will be a playbook outlining strategies for leveraging insurance and blended finance to support climate action. 

The initiative will also focus on capacity building and knowledge sharing to highlight the insurance sector's role in this area.

Blended finance combines public and private funds, using risk-mitigation tools such as insurance to make investments in developing countries more attractive to private investors. 

“The challenges posed by climate change require collaborative efforts with different stakeholders in the ecosystem,” Ritesh Thakkar, senior advisor, Asia-Pacific, at Convergence, said in a press release.