Gabrovo

Case Study: Gabrovo Municipality, Bulgaria

Fostering Local Resilience

Our project in Bulgaria’s Gabrovo Municipality (MoG) is a focal point for our collaborative efforts to enhance climate resilience. Partnering with insurers like DZI at KBC Group (DZI), alongside key stakeholders such as the Association of Bulgarian Insurers, the National Association of Municipalities in the Republic of Bulgaria, and the Ministry of Environment and Water, our initiative aims to fortify urban resilience in the face of climate hazards.

Tailored Solutions for Urban Challenges

Gabrovo Municipality grapples with climate hazards of stormwater, floods, droughts, heatwaves, wind, and landslides. To address these challenges, our project emphasises developing and testing innovative insurance solutions tailored to the municipality's unique needs. We seek to empower local communities and authorities to mitigate risks effectively by leveraging mutualised approaches and employing nudging techniques.

Closing the Insurance Gap

Central to our efforts is analysing the insurance gap within Gabrovo Municipality. Through rigorous assessment and data-driven insights, we aim to identify areas where insurance coverage falls short and develop strategies to bridge these gaps. We strive to ensure comprehensive insurance coverage that safeguards communities against climate-related risks by fostering collaboration between insurers, local authorities, and stakeholders.

Integration with Risk Data Hub

Gabrovo Municipality actively participates as a user in the Risk Data Hub, leveraging valuable insights and data-driven tools to enhance risk assessment and management capabilities. The municipality gains access to actionable information for informed decision-making and proactive risk mitigation strategies by harnessing collective expertise and resources available through this platform.

Key Performance Indicators (KPIs)

To measure the impact of our initiatives, we have established key performance indicators (KPIs) tailored to Gabrovo Municipality. These include the testing of two innovative insurance solutions, conducting an analysis of the insurance gap, integration with the Risk Data Hub, and the implementation of risk assessment methodologies. These KPIs serve as benchmarks to evaluate the effectiveness of our interventions and drive continuous improvement in urban resilience within Gabrovo Municipality.