The Project

Welcome to Soteria, a pioneering initiative funded by the European Union, dedicated to advancing insurance solutions for climate change adaptation across diverse European regions and communities.

Project Summary

“Solutions Testing for Regions through Insurance for Climate Adaptation (Soteria) embodies a comprehensive and co-creative approach aimed at addressing the pressing challenges posed by climate change through innovative insurance strategies.” The project is funded as part of Horizon Europe – the Framework Programme for Research and Innovation (2021-2027) under grant agreement n° 101112867.

Our mission encompasses three fundamental tracks, forming the foundations of our methodology:

  • Documenting Best Practices: Soteria endeavours to compile best practices about data utilisation, emerging insurance models, and robust enabling frameworks.
  • Testing Innovative Solutions: SOTERIA will identify innovative solutions and take them from the levels of research to demonstration and testing. Some of those solutions will be taken up to the level of pre-commercial procurement in at least three cases.
  • Communities of Practice: Soteria places significant emphasis on fostering communities of practice as part of its legacy. Through our Communities of Practice and insurance dialogues, we will analyse the role of public modernisation and how to develop affordable insurance schemes that leave no one behind. The Communities of Practice will support other regions interested in designing and/or adopting innovative insurance solutions.

Our Pilot Regions

At Soteria Climate, we're on a mission to protect communities from the impacts of climate change through innovative insurance solutions while fostering resilience in pilot cities across Europe.

By bridging the protection gap and co-creating tailored insurance strategies, we aim to empower individuals and cities, using West Athens, Saxonian cities (VZS), Saxony-Anhalt(LAU), Gabrovo, Trondelag, Zadar, and Valencia as our pilot regions, to thrive in the face of diverse climate challenges, from floods to heat waves.

Critical Success Factors

Employing the renowned "Lean method," Soteria embarks on a journey of co-creation alongside insurance sectors and regional entities. Over the running period of the project, the insurance sector, which insures customers against climate-induced risks, can use this tool to test and implement innovative services and products for their clients.

SOTERIA will outline the systemic risk sharing between the insurance sector, the customers and the public sector. Based on demand, Nature-Based solutions (NBS) risk reduction potential will be quantified and made available to various actors. It will enable non-specialist stakeholders to share a common understanding of NBS and leverage their potential for risk transfer.

Throughout the project's duration, this tool will serve as a guide for the insurance sector, empowering them to explore and deploy cutting-edge services and products tailored to mitigate climate-induced risks. Soteria is dedicated to elucidating the dynamics of systemic risk sharing among insurance providers, customers, and the public sector, thereby fostering a symbiotic relationship conducive to resilience.

Our overall objective is to contribute to narrowing the protection gap by supporting research on proactive prevention measures to expand insurance coverage. Central to our ethos is the exploration of enabling frameworks that support public sector modernisation, thus paving the way for the development of inclusive and affordable insurance schemes.

Task Forces

Task Forces provide direct advice on the key components of the project (namely public resilience, innovative insurance solutions, data and enabling framework) through the interaction during CoP activities and Progress Project meetings. The operational structure of the project will be agreed upon during the I Steering Committee Meeting.

Thematic Task Forces

Insurance Task Force

Provide advice and evaluating the deliverables prior to their publication for any issues relevant to insurance: including feedback to Data. Formed by the 9 Insurance Associated Partners.

Data and Open Access Task Force

Responsible for maintaining the Data Management Plan (DMP) ensuring that the outputs of the project are in line with our goals and latest initiatives.

Enabling Task Force

Responsible to align the SOTERIA outputs to the region and insurance needs; making suggestions across all work packages, on how to increase the adoption of the innovations by the industry and regions; assist the SC to help better adapt the IIS to different policy frameworks.

Communications and Communities Task Force

Coordinates all the activities which are related with the effective implementation of the communication and dissemination strategy of the SOTERIA project, giving special attention to our regions and communities.