IFC, QBE Asia team up to tackle property insurance gap

The International Finance Corporation (IFC) and QBE Asia have launched a strategic partnership to expand the Building Resilience Index (BRI) across Asia-Pacific, aiming to close the region’s climate-related property insurance gap. BRI, a digital tool developed by IFC, assesses hazard exposure and climate resilience for real estate assets. QBE Asia is the first insurer to join the initiative since its 2021 pilot. The partnership targets broader adoption of BRI beyond developers to include homebuyers, banks, and governments. It also supports the creation of insurance products that reward resilient building practices through sustainable pricing, faster claims, and parametric solutions. The collaboration includes training programmes in Hong Kong, Malaysia, Singapore, and Vietnam, with plans to integrate QBE’s risk tools into BRI’s platform.