What Can Super Typhoon Rai Teach Us About Financial Inclusion?

Typhoon Rai made landfall in the Philippines in December 2021, killing over 400 people, devastating 1.5 million homes, and causing over US$1 billion in damage. Extreme weather events like Rai are becoming more common as a result of climate change. Financial services can make households more resilient and adaptive, but too often the people who are most vulnerable to these shocks—such as women, poor people, forcibly displaced people, and people in rural areas—are also financially excluded.   In this episode, we travel to the Philippines to speak with a Typhoon Rai survivor and the insurance provider that helped her rebuild her home, as we explore the changing role of insurance and other financial services in climate change mitigation and adaptation.    Featured Voices:  Astrid Zwick, Head of InsuResilience Secretariat  Emilie Fernandes, former Philippines Country Director, Relief International  Lorenzo Chan, President and CEO of Pioneer Inc. Annaliza Hermano, a Pioneer Insurance customer  Wendy Chamberlin, CGAP Consultant      Listen and subscribe for free on your favorite platform. To learn more, visit www.cgap.org. If you have any feedback, connect with us at [email protected].