Combining Parametric Insurance and Ecosystem-based Adaptation Solutions for Farmers

Published on October 1, 2026

📍 The Philippines · Asia-Pacific

💡 Transition to Scale

CLIMBS’ Weather Protect Insurance (WPI) is the Philippines’ first cooperative-led parametric insurance product designed to help farmers, fisherfolk, and climate vulnerable communities recover quickly from extreme weather events.

Solution factsheet

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Overview

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.