CLIMBS Life

The Philippines are increasingly affected by climate related events such as floods, typhoons and ecosystem degradation. Many smallholder farmers are left to deal with the effects of these events with limited access to affordable risk protection. Conventional or indemnity-based insurance comes with bureaucratic burdens, and claims and payouts can take a long time to be processed. There is a wide need for faster climate risk protection, inclusive access for vulnerable communities, and long-term resilience through nature-based adaptation.

CLIMBS offers inclusive insurance called Weather Protect Insurance (WPI) that triggers payouts based on weather elements such as rainfall, wind, speed, droughts and heat indicators, eliminating the long payout waiting periods that come with traditional insurance. Beneficiaries are able to receive support within 10-15 days of a disaster, helping farmers to recover their livelihoods more quickly. A portion of the insurance returns is reinvested in activities such as mangrove restoration as a part of CLIMBS’ Plant a SEED initiative. This helps local adaptation and prevention efforts by strengthening coastal protection, restoring natural flood barriers and supporting long-term community resilience. Additionally, WPI is supported by cooperative-led capacity building on financial literacy, insurance awareness, and climate-smart agriculture; and promotes inclusive Shari’ah-compliant Takaful protection to expand access to risk financing for Muslim communities.