Rising Tides and Resilient Futures – Insights from ITC Vegas 2024

?Hello...

I hope today's Newsletter finds you well and that you are as passionate about our shared future as ever. I recently returned from the #ITCVegas 2024 conference, and I’m brimming with inspiration and urgency to share some pivotal insights on climate change and resilience think tank, which took place on 15 October.

I want to thank the many leaders and experts who made the day and event worthwhile. A list is included at the end of this Newsletter.?

Facing the Escalating Climate Crisis Together

We live in a time when the realities of climate change are no longer distant threats but everyday challenges. From intensifying storms to relentless wildfires, our communities are feeling the strain. At InsureTech Connect Vegas, the conversations underscored a critical truth: this is not just about environmental shifts—it's about our families, our economies, and the very fabric of our societies.

Consider the story of Laura in my first article below, a mother in a coastal town who has watched her insurance premiums soar as her home becomes increasingly vulnerable to rising tides. Her struggle is emblematic of many who find themselves on the front lines of this crisis, grappling with uncertainties that previous generations never faced.

Innovating for Resilience

Yet, amid these challenges, there's a beacon of hope. Innovation is paving new pathways toward resilience. I was encouraged to see how communities and industries are gradually embracing advanced technologies. Real-time data analytics are being leveraged to predict weather events more accurately, enabling timely evacuations and preparations. However, we know more needs to be done in this area.

Insurance companies, traditionally seen as cautious and slow-moving, are stepping up by offering parametric insurance policies. These policies provide swift financial support based on predefined triggers like wind speed or rainfall levels—ensuring that individuals like Laura can rebuild without insurmountable debt.

The Power of Partnerships

A recurring theme at ITC Vegas was the undeniable strength found in unity. Cross-sector collaborations are no longer optional; they're essential. Governments, insurers, tech firms, adjacent industries and citizens are coming together to develop and implement strategies that fortify communities.

I was particularly moved by stories of local leaders hosting town hall meetings to educate residents about available resources for climate-proofing their homes. These grassroots efforts are transforming neighborhoods and fostering a spirit of collective responsibility and action.

In Barrio Logan, San Diego, the Environmental Health Coalition (EHC) led a transformative initiative funded through the Transformative Climate Communities Program. The project began with a community tour at Boston Ave Linear Park, a site that was transformed from an empty plot into a community park. This effort was part of a broader initiative to reduce pollution and improve local climate resilience. The EHC leveraged $3 million from the TCC grant and an additional $2 million from the City of San Diego to support the park's development. This project not only improved the local environment but also served as a platform for educating residents about climate resilience and the importance of community-driven solutions.

In 2024, the Urban Institute and the National League of Cities cohosted a policy academy to assist cities like Dearborn, Michigan; Grand Rapids, Michigan; Kansas City, Missouri; and Mount Vernon, New York, in developing equitable climate resilience policies. These cities faced unique climate and health challenges, but they shared a commitment to addressing racial, ethnic, and health disparities through meaningful climate resilience efforts. The policy academy facilitated the development of a wide range of proposals aimed at achieving health equity and climate resilience, showcasing the role of local leadership in driving policy change.

Envisioning a Resilient Future

The takeaway from these discussions is clear: resilience is within our reach, but it requires us all to participate actively. By investing in sustainable practices like renewable energy and supporting initiatives that promote a better understanding of our energy consumption and our carbon footprint, communities are finding new ways to thrive.

Imagine a future where every challenge we face strengthens our bonds and where every obstacle becomes an opportunity for innovation and growth. We can create this future if we commit ourselves to the cause today.

Your Role in This Journey

I invite you to reflect on how you can contribute to this movement. Whether it's advocating for sustainable policies, supporting local resilience projects, or simply educating yourself and others about these critical issues, every action counts.

Let's remember that while the tides may be rising, so too is our collective resolve. Together, we can build a world that's not only prepared for the challenges ahead but is also a better place for generations to come.

Thanking some exceptional individuals who made the discussion so relevant.

Rushabh Doshi and Auditee Dutt from Travelers

Scott Gunther from Firemark Ventures

Magdalena Ramada Sarasola, PhD from WTW

Mike (Fitz) Fitzgerald CPCU, PMP and Franklin Manchester, CPCU from 赛仕软件

Adam Lewis, FCAS, MAAA from Oliver Wyman

Madalina Lavinia Preda and Dr George Shelton

And so many others for being a part of this vital conversation.

P.S.?Feel free to share this newsletter with others who are passionate about making a difference. Let's spread the word and inspire action!

And as always... stay curious and keep innovating!

--Want to know more... make sure to register on our website alchemycrew.ventures for our bi-weekly newsletter on corporate venturing, the venturing client model and corporate-startup collaboration.

You can also dive into more insights:

• Read my Medium articles
• Listen to AI-generated snippets from my Medium articles on #BeyondTechFrontier Podcast on Apple Podcast and Spotify.
• Download the #ScoutingforGrowth Podcast on Apple Podcast and Spotify.