About Mr Dirk Reinhard
Experienced Vice Chair, Munich Re Foundation with a demonstrated history of working in the sustainable asset management, insurance and non-profit organization management industry. Strong business development professional skilled in Corporate Social Responsibility, Sustainable Asset Management, Inclusive Insurance and Strategy Development.
Q1: The Munich Re Foundation was established in 2005 to mark the 125th anniversary of Munich Re. Could you elaborate on the mission of the Foundation and how it has evolved over the years?
A: The Munich Re Foundation was set up as a non-profit organisation in 2005. At the heart of our Foundation is Munich Re’s commitment to act responsibly and share knowledge. Based in Munich, our activities span the globe, primarily in emerging and developing countries.
We tackle pressing global challenges and develop solutions for people at risk. At the core of our Foundation lies a responsibility to enhance the well-being of communities through a deep understanding and adept management of risks. It’s not just about mitigating threats – it’s also about utilising the wealth of knowledge within Munich Re for the benefit of society.
We concentrate on climate risk and adaptation, climate change mitigation and inclusive insurance which complements Munich Re’s sustainability agenda. This has been the case from the beginning and has not changed.
Q2: Munich Re has a long history of dealing with global risks. How does the Foundation’s work contribute to global risk management, especially in emerging and developing countries?
A: We use our expertise to address pivotal elements within the risk management value chain. This includes a thorough understanding of risks, as well as how to prevent them, and expands the scope of risk transfer mechanisms that benefit vulnerable people and communities. In this way, we actively contribute to the resilience and sustainability of the global community.
We participate in every aspect of creating positive change. From generating and disseminating knowledge to fostering innovative solutions and providing direct support for local projects, our approach is defined by active engagement. We build bridges and promote networks by bringing together different stakeholders to exchange knowledge, facilitate learning and develop solutions.
Q3: The Foundation is active in various global projects. Could you highlight some of the key initiatives currently being undertaken by the Munich Re Foundation, and their impact on the communities involved?
A: Climate change adaptation
Recent decades have seen a significant increase in the number of catastrophes with devastating consequences. Disaster prevention is more vital than ever, and local projects show particular promise. The RISK Award, launched in 2012, will award up to €100,000 every two years to fund groundbreaking projects. It is jointly organised by Munich Re Foundation and the United Nations Office for Disaster Risk Reduction (UNDRR).
See details and assessment reports here:
https://www.munichre-foundation.org/en/climate-adaptation/risk-award.html
In the face of a continuously growing population, the world’s food production systems face an enormous challenge in providing food security. Also, climate change will increasingly cause adverse impacts on agricultural production and contribute to food insecurity in the future. At the same time, agriculture is the world’s biggest driver of biodiversity loss and contributes up to 31% of CO2. There is a need for sustainable agricultural practices to improve productivity, increase resilience to climate change, reduce greenhouse gas emissions and enhance biodiversity.
The agricultural sector is ripe with innovation and transformation potential despite rapidly becoming more susceptible to the harsh impacts of climate change. There is an urgent need to transform agricultural systems, especially for communities that heavily rely on agriculture for their livelihoods. Supporting locally led initiatives to achieve innovative agricultural transformation is key to advancing resilience and adaptation.
Together with Global Resilience Partnership, we were excited to launch the Resilient Agriculture Innovations for Nature (RAIN) Challenge for non-profit organisations in East Africa. The RAIN Challenge for non-profits aims to nurture innovative agricultural ideas that work to change the risk perceptions of investing in agriculture. The challenge will align potential funders to non-profit organisations and drive attention to the urgent need for locally-led agricultural systems transformation.
Non-profit organisations across public, local civil society, international NGOs, and academia based in East Africa are invited to submit proposals for initiatives that aim to deliver innovative and scalable solutions that increase resilience while resulting in a stronger and better context for nature positive agriculture to flourish. A second strand of the RAIN Challenge is concerned with business concepts from local start-ups. This for-profit area is financially supported by the Shockwave Foundation and organised by GRP. Together, we can utilise synergies and harness the innovative power of non-profit and business-oriented entrepreneurs.
Climate change mitigation
We address current issues in public events and panel discussions held in Munich. Politicians, scientists and people affected by the issues take a look behind the scenes and discuss with forum participants. The Dialogue Forums have been held regularly since 2005. They are designed to raise public awareness of climate change/climate protection.
Inclusive Insurance
Vulnerable people around the world face various risks, including socio-economic, climate and health risks. Insurance and risk-finance is critical to reducing humanitarian impacts of disasters, building people’s capacity to recover more quickly and strengthening community resilience. Moreover, insurance plays an important role for a sustainable economic development and in the fight against poverty.
Billions of people are still left without appropriate risk management. The Munich Re Foundation aims at increasing the outreach of insurance solutions in emerging and developing countries. Facilitating the exchange of knowledge and best practices as well as understanding client needs, market opportunities and barriers contributes to the development of the inclusive insurance sector. We create platforms to connect important stakeholders from the private and public sector and civil society, fund knowledge and data generation and support education.
In collaboration with Insurance Associations and other partners such as the Microinsurance Network, the Munich Re Foundation organises the International Conference on Inclusive Insurance (ICII). The conference which took place for the first time in 2005 was called the International Microinsurance Conference until 2018. At the conferences, experts from around the world representing NGOs, development-aid organisations, regulation, supervision and policy experts as well as the insurance industry meet to exchange experiences and discuss the challenges involved in extending risk management solutions based on insurance principles to low-income households and MSMEs.
The mission of the ICII is to provide a non-profit platform for all stakeholders to present and discuss issues, policies and state-of-the-art solutions for efficient, sustainable and inclusive insurance products;
- promote the development and proliferation of good-value insurance for emerging economies;
- raise awareness of the demand for insurance in the low-income segment and its potential;
- provide opportunities for insurance and development experts to progressively develop shared visions and create new partnership
The Learning Sessions complement the International Conference on Inclusive Insurance. They are designed to address topics that are particularly relevant to a country or a region and to reach out to local experts. The events are organised jointly with international and local partners.
Munich Re Foundation also supports the Microinsurance Network’s “Landscape of Microinsurance” study. A number of governments have started developing a regulatory framework to enable the development of innovative solutions. As more and more stakeholders see the potential that microinsurance holds for both business and development, the importance of a detailed and updated overview of the status quo of microinsurance activities increases.
In 2006, first results from the ground-breaking study “The Landscape of Microinsurance in the World’s 100 Poorest Countries” were published followed by a series of landscape studies. The Munich Re Foundation was the main driver of the studies from 2012 until 2018. In 2023, the Munich Re Foundation joined a group of sponsors again to support the Landscape of Microinsurance program which is hosted by the Microinsurance Network.
Q4: Effective risk management often involves collaboration with local communities and governments. How does the Munich Re Foundation engage with these stakeholders to ensure the success of its initiatives?
A: We always work with local partners. E.g. the Strong Roots Strong Woman program who was the before last winner of the RISK award involves woman organisations in Vietnam that plant the mangroves.
The International Conference on Inclusive Insurance as well as the regional conferences under the “Learning Sessions” program are always hosted in cooperation with the national insurance association and/or the national regulatory and supervisory bodies. Only with this approach we can ensure ownership of the programs.
Q5: What are some of the latest activities or focus areas for the Munich Re Foundation? Are there any new regions or issues that the Foundation is particularly focusing on this year?
A: We are involved in long-term activities and work with our partners over several years. The RISK award is awarded every two years and there is currently a new application: 2025 RISK Award
“Children and youths as agents of change for DRR”
Q6: Knowledge sharing is a key aspect of the Foundation’s mission. Could you tell us more about the educational programs or platforms that the Foundation supports to disseminate knowledge on risk management?
A: Knowledge sharing is an integral part in most our programs. This part e.g. is strongly integrated in the RAIN challenge and was key in the past Climate Academies. It is also part of the Dialogue Forums program and certainly the key component of the International Conference on Inclusive Insurance and the regional conferences (including training programs such as our support of the ILO Impact Insurance Academy. as well as the support of the MI Landscape Study.
Q7: Looking ahead, what are the long-term goals of the Munich Re Foundation? How do you envision the Foundation’s role in shaping global risk management and contributing to sustainable development in the coming years?
A: It is our commitment to work towards the achievement of the UN Sustainable Development Goals. Working hand in hand with local, national, and international partners and networks, we amplify our impact across borders. At the same time, we address global challenges at the local level and make a tangible difference where it matters most.
Climate risks play a key role in our work and we work around understanding the risks, reducing and better managing climate risks. We have a large network of partners and cooperate in all our programs with various organizations including UN organizations to leverage our resources.
Q8: Insurance plays a critical role in managing risks, especially in developing economies. What is your view on the role of insurance in promoting resilience and economic stability in these regions?
A: Risk management based on insurance play a key role in achieving a number of the SDGs. Insurance helps to:
- end poverty in all its forms everywhere
- helps to end hunger, achieve food security, improved nutrition and promote sustainable agriculture
- ensure healthy lives and promote well-being for all at all ages
- to achieve gender equality and empower all women and girls
- promote sustained and inclusive and sustainable economic growth, full and productive employment and decent work for all
- take urgent action to combat climate change and its impacts
This role is not yet fully understood by key stakeholders such as governments as well as the insurance industry itself.
Q9. The International Conference on Inclusive Insurance 2024 will take place from 21-25 October 2024 in Kathmandu, Nepal. Can you share the purpose and objective of the conference?
A: The mission of the ICII is to provide a non-profit platform for all stakeholders to present and discuss issues, policies and state-of-the-art solutions for efficient, sustainable and inclusive insurance products;
- promote the development and proliferation of good-value insurance for emerging economies;
- raise awareness of the demand for insurance in the low-income segment and its potential;
- provide opportunities for insurance and development experts to progressively develop shared visions and create new partnership
Among other we also aim at leaving a “footprint” in the hosting country and the region and increase the attention to the role of insurance for sustainable economic development as well as the importance to closing the insurance gap.
Q10: Finally, what advice would you give to young professionals and future leaders who are looking to make a difference in the field of risk management and sustainable development?
A: We do not lack insurance companies. We are lacking insurance companies that are interested in emerging economies including low-income communities:
- Analyse the market (demand, opportunities, challenges, barriers) – listen to your (new customer) – understand the impact of climate change
- Develop the (company internal) skillset to create an “emerging customer“ “taskforce“
- Find partners that know the customer and help to overcome identified challenges
- Go digital! Reduce costs and develop efficient distribution channels
- Develop a long term strategy for market development endorsed by the top management. Do not expect huge successes in just a few months, be patient!
- Work with your regulator and government to develop specific solutions and as part of a broader national strategy to create an enabling environment -> Create a permanent “round table“ on inclusive insurance. q
