MAPFRE has invested in Blue Marble, becoming the sixth member in a consortium dedicated to offering insurance solutions to “underserved” communities affected by climate change. 

The consortium, which also includes Aspen, Grupo ASSA, Marsh McLennan, TransRe and Zurich Insurance Group, collaborates with various stakeholders to mitigate the impact of climate change on vulnerable livelihoods. 

Blue Marble, an insurtech company established in 2015, specialises in parametric insurance tools for emerging markets.  

The company said that its proprietary platform supports these tools, facilitating scalability. 

Blue Marble CEO Jaime de Piniés said: “MAPFRE’s membership is a milestone in our tenth anniversary year and a powerful signal of the growing importance of climate resilience.  

“Over the past decade, Blue Marble has shown how global insurance businesses, working together, can launch first-of-their-kind products and bring protection to underserved communities worldwide. With MAPFRE joining, our ability to scale these innovations and close protection gaps becomes even stronger.” 

Throughout its first ten years, Blue Marble has introduced insurance programmes across 16 countries.  

These programmes aim to enhance the climate resilience of smallholder farmers, labourers, and small and medium-sized enterprises (SMEs) in regions like Africa, Asia and Latin America. 

MAPFRE RE CEO and Blue Marble board member for MAPFRE Miguel Rosa said: “Joining Blue Marble is a natural extension of MAPFRE’s commitment to building resilience for communities facing the greatest climate risks. By combining our technical knowledge and global presence with the consortium’s collaborative approach, MAPFRE can scale innovative solutions where they are needed most.” 

In July, MAPFRE Re reached an agreement to license flood insights data from ICEYE.  

The incorporation of ICEYE’s data is expected to improve MAPFRE Re’s capacity to respond to flood events.