MAPFRE invests in Blue Marble, joining global consortium expanding insurance protection for climate-vulnerable communities

Blue Marble, an impact InsurTech backed by a consortium of leading insurance organisations committed to closing the protection gap for climate-vulnerable communities, today announced that MAPFRE has joined as its newest owner through an investment in the company, bringing the consortium to six leading organisations in its tenth anniversary year: Aspen, Grupo ASSA, MAPFRE, Marsh McLennan, TransRe, and Zurich Insurance Group.

Established in 2015, Blue Marble designs and delivers innovative parametric insurance solutions to underserved communities in emerging markets. Its proprietary technology platform powers these solutions, enabling continuous product innovation, rapid scaling, and expansion of cover for underserved groups. The consortium works in partnership with local insurers, development agencies, and private sector actors to protect livelihoods from the increasing impacts of climate change.

“Blue Marble was founded to bring together global insurance leaders with a shared commitment to closing protection gaps for climate-vulnerable communities,” said Penny Seach, Chair of the Board of Blue Marble. “Welcoming MAPFRE to the consortium strengthens both our expertise and our reach, and sets the stage for our next decade of impact and innovation.”

“Joining Blue Marble is a natural extension of MAPFRE’s commitment to building resilience for communities facing the greatest climate risks,” said Miguel Rosa, Blue Marble Board member for MAPFRE and CEO of MAPFRE RE. “By combining our technical knowledge and global presence with the consortium’s collaborative approach, MAPFRE can scale innovative solutions where they are needed most.”

“MAPFRE’s membership is a milestone in our tenth anniversary year and a powerful signal of the growing importance of climate resilience”, said Jaime de Piniés, CEO of Blue Marble. “Over the past decade, Blue Marble has shown how global insurance businesses, working together, can launch first-of-their-kind products and bring protection to underserved communities worldwide. With MAPFRE joining, our ability to scale these innovations and close protection gaps becomes even stronger.”

In its first decade, Blue Marble has launched and scaled insurance programs for underserved communities in 16 countries bringing climate resilience through innovative parametric insurance to smallholder farmers, workers and SMEs across Africa, Asia and LatAm. To date, Blue Marble has positively impacted hundreds of thousands of individuals, proving how public–private collaboration can close protection gaps and unlock new models for inclusive insurance, and demonstrate that social impact and commercial viability can go hand in hand.