Balikoowa’s winning concept proposes parametric microinsurance, a model using satellite-measured rainfall and other objective data triggers, to deliver fast, transparent payouts to climate-vulnerable communities.

By leveraging mobile distribution and scalable design, the initiative aims to turn climate shocks into manageable risks.

Katrina Shanks, CEO of ANZIIF, says Ismail’s proposal is a powerful example of innovation with purpose.

“This scholarship is about enabling bold ideas that strengthen communities and reshape the future of insurance,” Shanks says. “Ismail’s concept reflects ANZIIF’s commitment to supporting professionals who pursue excellence and drive real-world impact.”

Ismail Balikoowa says winning feels surreal. “It’s a moment where years of trying to make something meaningful in a rigid system gets seen and valued,” he says.

“Parametric insurance isn’t just technical progress, it’s maintaining dignity. When climate shocks hit, people need timely support, not bureaucracy.”

The Lloyd’s Innovators Scholarship supports Tier 1 and AICLA-qualified professionals with up to $5,000 toward a Diploma qualification, including enrolment in ANZIIF’s Lloyd’s Demystified course and a day-in-the-life experience at Lloyd’s Australia.

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