Market Development & Innovation -

Over the past 30 years in the Caribbean, floods and tropical storm damage affected 1.5 million people directly and caused over USD 5 billion in damage. The increasing frequency and intensity of extreme weather events stress societies and natural systems.
1.  Affordability issues for the target low-income segment.  Additional transaction cost and taxes. Also, even with this cost structure, insurers and distributors are not sufficiently incentivized to push the product. 
2.  Intensive marketing efforts and consumer education are needed to increase the scale of LPP. Technology interventions are capital intensive. 
3.  The longtime gap between the two project phases affects  the interest level and engagement of local stakeholders. 
4.  Low agility in product refinement and longer response time towards market dynamics.