Bockarie Kalokoh, former Deputy Minister of Finance of Sierra Leone, called on West African insurance operators to strengthen resilience against climate change by investing in local data systems and climate risk expertise. Speaking at the 2025 WAICA Education Conference in Lagos, he stressed the need for hyper-local data capabilities and partnerships with meteorological agencies, tech firms, and research institutions.
Kalokoh proposed creating a regional pool for catastrophic risks to share climate-related losses, citing models like the African Climate Risk Facility. He encouraged insurers to harness mobile tech to expand climate insurance access and advocated for stronger regulatory frameworks to support these products.
Kalokoh also highlighted the importance of training specialists in climate risk within the sector and introduced a masterclass aligned with Greenhouse Gas (GHG) Protocol and Partnership for Carbon Accounting Financials (PCAF) to measure and reduce insurance-linked emissions.
“The insurance industry boosts adaptation by offering essential risk transfer mechanisms, partnering with governments and NGOs, and advising on policy,” he concluded.
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