SOlutions TEsting for Regions through Insurance for climate Adaptation

Informations projet

SOTERIA

N° de convention de subvention: 101112867

DOI

10.3030/101112867

Projet clôturé

Date de signature de la CE 17 Mai 2023

Date de début 1 Septembre 2023

Date de fin 28 Février 2026

Financé au titre de

• Climate, Energy and Mobility

Coût total

€ 2 998 353,75

Contribution de l’UE

€ 2 998 353,75

Coordonné par

ASOCIACION BC3 BASQUE CENTRE FOR CLIMATE CHANGE - KLIMA ALDAKETA IKERGAI
Spain

Periodic Reporting for period 2 - SOTERIA (SOlutions TEsting for Regions through Insurance for climate Adaptation)

Période du rapport: 2025-03-01 au 2026-02-28

Résumé du contexte et des objectifs généraux du projet

Across Europe, climate risks are increasing in frequency and intensity, while a significant share of losses remains uninsured or underinsured. This growing protection gap limits the capacity of regions, communities and economic sectors to recover from climate impacts and to invest in long-term adaptation. Addressing this challenge is a key priority within the EU Mission on Adaptation, which calls for more effective, accessible and forward-looking solutions to strengthen climate resilience. In this context, the SOTERIA project aims to advance innovative insurance solutions for climate change adaptation across different European regions and communities. The project seeks to reduce the protection gap by documenting best practices and testing insurance products and services that reward proactive prevention measures, while increasing coverage through co-designed solutions. To achieve this, SOTERIA follows three main tracks forming the core of its approach, combining knowledge generation, real-world testing through a network of three pilots and five satellites covering diverse geographical areas and needs, and stakeholder engagement through Communities of Practice and Climate Resilience Dialogues. By linking research with real-world scenarios, and addressing key social and behavioural factors such as affordability, risk perception and trust, the project delivers best practical materials to support the uptake and replication of innovative insurance solutions across Europe and ultimately strengthen resilience to climate change.

Travail effectué depuis le début du projet jusqu’à la fin de la période considérée dans le rapport et principaux résultats atteints jusqu’à présent

Piloting insurance solutions: Within WP1, the project focused on testing innovative insurance solutions in real case studies across Europe. Story Maps were developed and updated to analyse local risks, insurance systems and key barriers, while supporting stakeholder engagement and co-design. Moreover, the analysis of climate-related risk and loss data revealed fragmentation and gaps, leading to recommendations for Regional Data Hubs and highlighting the need to combine loss data with climate risk information for better decision-making. A risk assessment framework was developed linking hazard, exposure and vulnerability with damage data and future climate scenarios, and applied in several case studies to show how better risk understanding can support improved insurance design. Pilot activities tested innovative solutions by combining data, behavioural insights and stakeholder engagement, supported by Communities of Practice (CoP). These demonstrated how insurance can move beyond compensation to support prevention and resilience.
Data sharing: Within WP2, the project addressed how climate risk and loss data is collected, shared and used, tackling fragmentation and limited accessibility. Existing data sources and platforms were analysed, identifying gaps in loss data and inconsistencies in data practices, including limitations in interoperability when assessed against DCAT-AP standards. Moreover, the project analysed barriers and drivers for data sharing using a combined PESTEL and COM-B approach, identifying challenges such as lack of trust, limited incentives and institutional capacity differences and provided practical recommendations on how to improve data availability and use in different regional contexts. Finally, a common data framework was developed through the SOTERIA ontology and APIs, supported by guidelines to improve data quality and interoperability. A software prototype was also delivered, integrating harmonised data into a user-oriented interface. Tested in Norway and Valencia, it shows how improved data integration can support risk analysis and decision-making.
Innovative insurance solutions: products, services and pricing: Within WP3, the project analysed and translated innovative insurance solutions into practical guidance for insurers and public authorities. Existing insurance products and risk-transfer mechanisms were reviewed to identify effective approaches for supporting climate adaptation and reducing the protection gap. In this regard, best-practice solutions were evaluated based on resilience, inclusiveness, economic viability and scalability. In parallel, the project analysed sustainable insurance frameworks, including ESG principles, identifying key gaps and challenges. A key output was the “Radar of Success Stories”, providing an overview of innovative solutions such as parametric insurance, public-private schemes and data-driven approaches. This also reinforced findings from the Climate Resilience Dialogues, particularly regarding barriers and ways to close the protection gap. Finally, it delivered guidance on insurance products, services and pricing, including business models, pricing approaches and implementation pathways. Some solutions were tested in case studies, and an Intellectual Property Rights (IPR) assessment identified options for further development and uptake.
Policy and governance enablers: Within WP4, the project analysed how policy and regulatory frameworks influence the role of insurance in climate adaptation across different levels. This included case study analysis and a cross-country comparison identifying common challenges and enabling conditions. It also examined justice and “just resilience”, focusing on affordability, willingness to pay and potential maladaptive effects based on stakeholder surveys and insights from the Climate Resilience Dialogues. Climate Resilience Dialogues supported exchange between stakeholders in several regions, helping validate findings and co-develop recommendations.Finally project results were consolidated into practical outputs, including policy recommendations, the SOTERIA Replication Manual and the Knowledge Platform, supporting uptake and replication across regions.

Progrès au-delà de l’état des connaissances et impact potentiel prévu (y compris l’impact socio-économique et les conséquences sociétales plus larges du projet jusqu’à présent)

SOTERIA has delivered results that go beyond the state of the art by integrating elements that are usually addressed separately, including climate risk assessment, insurance, data and behavioural aspects. A key contribution is showing how these can be combined in practice, through a risk assessment framework linking climate data and damage estimation to insurance design, and through improved data structures and digital tools that make climate risk and loss data easier to use for decision-making.

The project has also advanced the design and testing of insurance solutions by combining technical analysis with stakeholder engagement and behavioural insights. This includes solutions such as personalised pricing, risk reduction incentives and shared resilience approaches. Mechanisms such as Communities of Practice and Climate Resilience Dialogues have further supported co-design processes and helped identify barriers to uptake. These results are consolidated in the SOTERIA Replication Manual and Knowledge Platform, providing practical mechanisms for replication.

Overall, the results support better decision-making, improve insurance design and contribute to reducing the climate insurance protection gap, with clear relevance at European level under the EU Mission on Adaptation. However, further work is needed to ensure uptake, including additional testing with end-users, real-life demonstration, stronger engagement with insurance markets and access to funding. Supportive regulatory frameworks, improved data sharing and continued work on standards will also be essential for wider adoption.