Parametric Microinsurance: A key tool to achieve resilience in Guatemala

With Guatemala being one of the most vulnerable countries to natural hazards, which are increasing with the current climate crisis, WFP Guatemala designed a parametric microinsurance programme to build resilience in the most vulnerable communities and A pilot of the project was successfully carried out in 2021, insuring over 1,000 people in five departments across the country. This factsheet presents the design of the parametric insurance programme, the pilot phase, and the scale up strategy of 2022 which will now cover seven departments and over 9,000 people are insured.