This project was a collaboration between the Global Risk Financing Facility, the Disaster Risk Financing & Insurance Program of the World Bank, the European Space Agency and Data-Pop Alliance. The following publications stem from the collaboration.
Crisis Risk Finance Analytics Report
The report represents a selection of projects from the Crisis Risk Finance Analytics program (CRFA), as part of the World Bank Crisis and Disaster Risk Finance work to apply innovative technology for risk finance applications.
It presents the successes and challenges faced by the program to date, highlighting the potential of satellite imagery, Big Data, and advanced analytics techniques to improve disaster risk finance, as well as the implications of various governance and partnership models with the private and public sectors to bring some of these applications to scale.Download
The Potential of Earth Observation, Big Data, Artificial Intelligence, and Machine Learning to Improve Financial Risk Management
This report presents a taxonomy on the potential of Earth Observation (EO), Big Data (BD), Artificial Intelligence (AI), and Machine Learning (ML) to improve financial risk management. First, the document explains the criteria used to develop this taxonomy and classifies the potential of the technologies to contribute to Disaster Risk Finance (DRF). Second, based on the analysis of several case studies, the most promising technologies and data sources are highlighted. Finally, the limitations, challenges, and ways forward are outlined to ensure these solutions can be implemented and further strengthen the financial resilience of developing economies.Download