FNFA / BFL Insurance Feasibility Study
Exploring a NEW approach to providing insurance for Indigenous communities
Shifting the Lens: A collaborative values-based approach to insurance
Our collective vision is empowering Indigenous communities and organizations with trusted partnerships to own and manage a broad, innovative, and collective insurance and risk management program designed to protect investments and assets while enhancing the economic strength and well-being of Indigenous communities.
Why explore an Indigenous owned insurance model?
FNFA’s mission is to help Indigenous communities build their own futures on their own terms and we have partnered with BFL CANADA to explore more sustainable insurance options for the benefit of FNFA Members and other Indigenous communities.
The long term generational benefits of a collective insurance model include:
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Expanding Indigenous economic growth and community wellbeing |
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Ensuring direct and equitable access to the global insurance market |
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Stabilizing insurance coverage and costs while building greater resiliency |
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Sustaining risk management benefits over multiple generations |
What are the next steps?
1. Discovery Process – Engage with FNFA Members
2. Collective Model Investigation – Collect and analyse data (i.e. feasibility study)
3. Collective Model Communication – Disseminate information to participants
4. Collective Model Decision – Participants decide based on analysis
5. Collective Model Set Up – Formalize and execute agreements
Interested in learning more?
The first step is to collect and analyze data in order to determine the optimal structure for a collective insurance model. All information collected is protected by non-disclosure agreements signed by all parties and is used solely for the purpose of this project.
To participate or learn more, contact:
Jody Anderson, CAPA
Strategy & Partnerships Advisor, FNFA
C. 250-870-7808 janderson@fnfa.ca
Why are we doing this?
The mission of the First Nations Finance Authority (FNFA) is to help First Nations communities build their own futures on their own terms. The severe challenges within the global insurance market over the past few years have highlighted how underserved, siloed, and excluded the Indigenous community is by the insurance industry resulting in tremendous uncertainty and inequity. For instance, renewal terms often arrive only hours before coverage expires, frequently with reduced coverage and higher costs, and without any recourse or options for communities apart from accepting whatever final offer is put in front of them. Together, we can change the current state of the insurance industry and move toward a future model founded on an Indigenous worldview of collective responsibility, shared core values, and, ultimately, ownership for Indigenous communities.
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The generational vision of this project is to empower Indigenous communities and organizations with trusted partnerships to own and manage a broad, innovative, and collective insurance and risk management program designed to protect investments and assets while enhancing the economic strength and well-being of Indigenous communities.
Click here to download BFL / FNFA Insurance Brochure