WRMS, wholly owned subsidiary of Ingen Technologies, is a climate risk management company that has evolved to address challenges across multiple sectors. Ingen focuses on developing and manufacturing smart IoTs, conducting groundbreaking research in sensor and networking technology to enhance risk management capabilities across various industries.
Together, WRMS and Ingen offer a comprehensive suite of services that address various aspects of climate risk management. Their offerings include high-resolution climate outlook and long-term climate change vulnerability assessments. They also provide risk modeling and management solutions, delivering integrated services for financial institutions, insurers, and corporates. The companies specialize in NatCat Insurance Design, assessing exposure to natural catastrophes and creating customized insurance solutions. Additionally, their expertise extends to Crop Insurance Portfolio Management, where they offer risk modeling, portfolio assessment, and claims monitoring services. This diverse range of capabilities allows WRMS and Ingen to provide holistic climate risk management solutions across multiple sectors. In an interview with ResponsibleUs, Sarathy Srinivas, Head – International Projects, WRMS, explained how important is to assess climate risk and more
Please share with us your experience at COP29 in Baku, Azerbaijan, as a representative of WRMS Global.
Representing WRMS Global at COP29 in Baku, Azerbaijan, was an incredible experience and an important opportunity to share our work while contributing to the global conversation on climate risk insurance.
My experience at COP29 was a reaffirmation of why this work matters. Climate risk insurance is not just about managing financial risk-it is about protecting livelihoods, empowering communities, and enabling them to recover more quickly from climate-related shocks. Representing WRMS Global at such a pivotal event was a humbling reminder of our mission to safeguard under protected communities across the Global South, and it left me more determined than ever to expand these transformative solutions.
How do you think the communities can be safeguarded against climate shock, and into what role can an organization like WRMS play in that?
Communities can be safeguarded against climate shocks through proactive risk management, robust early warning systems, and access to financial safety nets. WRMS empowers vulnerable communities with climate-smart technologies, including timely financial relief from adverse weather events through Weather Index Insurance. Training programs and real-time data-sharing enable communities to adapt and prepare for future risks. WRMS is a bridge between cutting-edge technology and grassroots implementation, ensuring solutions are accessible, effective, and tailored to the specific needs of communities.
You have mentioned Iraq is ranked the 5th most vulnerable country to climate change. Could you please explain exactly what kind of climate risks does Iraq face?
Iraq has high and multi-dimensional climate risks in terms of extreme heat, prolonged drought, and acute water scarcity. Moreover, the agricultural sector remains vulnerable due to its fragile status and reliance on shared water resources. The country lacks enough infrastructure to respond to sharp climatic shocks. Rising temperatures have led to decreased crop yields and livestock productivity, and water shortages threaten food security and amplify socio-economic instability. Such cascading effects not only disturb livelihoods but also make it a complex web of challenges for sustainable development and climate resilience.
How does Weather Index Insurance work, and why is it effective in meeting climate-related challenges?
Climate change has made weather patterns increasingly erratic and extreme, leaving vulnerable communities, especially smallholder farmers, exposed to significant risks. Prolonged droughts, unexpected heavy rains, or extreme temperatures can wipe out entire harvests, disrupt livelihoods, and plunge families into financial insecurity. Traditional approaches to risk management often fail to address these challenges adequately, as they can be slow, inaccessible, or unaffordable for those who need them most.
This is where Weather Index Insurance (WII) steps in as an innovative and effective solution. WII is a parametric insurance model that provides financial protection based on objective weather data rather than damage assessments. Pre-defined weather triggers-such as rainfall below a certain threshold during the growing season or extreme heat exceeding agreed-upon limits-activate payouts automatically. For instance, if a farmer’s area experiences a drought and rainfall data from weather stations confirms the shortfall, the insurance policy triggers an immediate payout to the insured.
The efficiency of WII lies in its simplicity and speed. Because it eliminates the need for time-consuming and costly damage assessments, payouts reach affected communities quickly, providing them with the resources they need to recover and rebuild. Additionally, its reliance on transparent, verifiable weather data fosters trust among users. By ensuring swift financial relief, WII not only mitigates the immediate impacts of climate shocks but also empowers farmers to reinvest in their livelihoods, fostering long-term resilience.
Moreover, WII plays a critical role in promoting financial inclusion. It is designed to be accessible and affordable, particularly for underserved communities in rural areas. By addressing the challenges posed by climate variability, WII is a vital tool in building adaptive capacity and safeguarding livelihoods against an uncertain climate future.
You might want to explain in greater detail how important real-time data and technology are to the design of policy and disbursement in a climate-related event.
As stated, real-time data and technology are critical for the formulation of policies and timely disbursement during climate events. According to satellite imaging, IoT sensors, and detailed weather forecasting models, it is possible to observe environmental factors’ changes with a high degree of accuracy. These kinds of data are the foundation of products such as the Weather Index Insurance; they allow for the evaluation of risk, adjustment of policies, and even payments based on algorithms.
In addition, technology ensures that payments get to the intended beneficiaries without undue delay and with full accountability since technology leaves little room for administrative blockage of beneficiaries’ access to the money. Real-time data also assist policymakers in getting insights of emerging trends to prevent long term adverse impacts.
WRMS cooperates with various organisations, like WFP and the Iraqi Ministry of Environment; would you care to expand on what their contributions entail regarding climate resilience?
Collaboration is at the core of what we do at WRMS. We work with a variety of partners, each playing a unique and vital role in developing accessible, scalable, sustainable programs that address climate resilience challenges effectively.
Multilateral organizations and government ministries are instrumental in creating an enabling environment. For instance, our partnership with the WFP and the Iraqi Ministry of Environment was crucial in launching Iraq’s first heat and drought index insurance. In India we work with several state governments to deploy ground automatic weather stations in line with Disaster Risk Management policies. These stakeholders help align our solutions with national policies, bring local trust, and ensure we are addressing real-world priorities. Similarly, working with UNCDF in the Pacific Islands or UNDP in Bangladesh has allowed us to scale solutions for floods, droughts, and cyclones in regions that are highly vulnerable.
Distribution partners like microfinance institutions and corporates help us reach the grassroots. Microfinance institutions such as the MFIN network in India use our insurance products to secure loans, ensuring farmers and MSME owners are protected. Corporates like UPL, Bayer and PepsiCo embed our solutions into their value chains, bundling insurance with seeds or farming contracts, which encourages adoption and builds trust at the community level.
Insurance and reinsurance providers make these solutions viable at scale. Local insurers manage the on-ground execution ensuring swift payouts, while global reinsurers like SCOR Re and Swiss Re enable product and pricing innovation by providing reinsurance capacity and security. Their involvement gives both farmers and institutions the confidence to adopt these innovative products.
Each partner brings something vital to the table-policy support, accessibility, or financial stability-and together, they help us create a robust ecosystem to protect vulnerable communities from climate shocks.
Which do you feel have been some of the most important challenges in the process of your work for climate resilience, and how do you overcome them?
One of the most significant challenges is the lack of awareness and trust in innovative solutions like Weather Index Insurance among rural communities. Many people do not know what insurance is or feel doubtful as to its advantages. We answer that question by guiding people through community participation, immersing ourselves in the local languages, and using culturally meaningful methods.
Other problems are insufficient data and infrastructure in the vulnerable regions. We have cooperated with local organizations and reached the rich expertise of global partners to promote advanced technologies and develop local capacity to narrow the gap.
In your opinion, what will the development be over the next few years within the role of innovative solutions like WII, with the related opportunities or challenges that might arise?
Intelligent models such as the Weather Index Insurance will have a significant impact on the mitigation of climate events as the frequency and intensity of these hazards continue to grow. In the following years, we anticipate that there will be further progress in AI, Machine Learning, and satellite technology which will result in better accuracy and availability of these solutions.
However, these innovations will only be possible if the following difficulties are addressed namely funding limitations, regulatory obstacles, and the need for inter-sectarian cooperation. No doubt, with the right collaborations and funds, WII and other similar tools have the potential to help millions of the most vulnerable people by making them the agents of resilience and adaptation in the face of climate change.