Independent · Est. 2026

Insurance is a promise. It is peace of mind. Economic losses from Natural Catastrophe in 2025 exceeded $220bn, half of this was uninsured.

The Covered Collective exists to close that gap.

Source: Swiss Re Institute, sigma 1/2026 ↗

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~50%
of natural catastrophe losses globally were uninsured in 2025
17%
of Europeans hold coverage for property damage caused by natural catastrophes
80–90%
of catastrophe losses in emerging markets are typically not covered by insurance

What we are building

The protection gaps in property exist for a variety of reasons; lack of accessible products is often cited, but it is an oversimplification. Often, the gap is not a technical problem. The issues keeping communities outside the insurance system are solvable.

We believe that the time to solve these persisting challenges is now; market capital, combined with maturity of technology and adoption mean new solutions are viable. The Covered Collective will translate the uninsured into language the market can work with, and bring the right participants together to build the products, pools and funds that communities need.

We are not a broker, an insurer or vendor, TCC is an independent movement. We are necessarily independent, to hold the convening authority and perform neutral research in order to make a meaningful change to the property protection gaps. Yet, experienced enough to know that the insurance ecosystem presents tremendous opportunity for the ongoing resilience of our communities.

01 — Voice

We translate risk into language the market can work with.

TCC will identify communities currently outside the insurance system and translate their risk into language the market can work with.

02 — Assembly

We bring the right people to the same table.

TCC will bring market participants together around that risk: brokers, (re)insurers, vendors and public bodies.

03 — Structure

We build the conditions for solutions to exist.

TCC will facilitate the creation of the fund, pool, or product.

The founding paper, open for collaboration.

The Covered Collective is conducting research for its founding paper, collaborating with experts across the insurer, reinsurer and insurtech industry. TCC is focusing on property gaps, both residential and commercial, in mature and emerging markets.

Looking at how funds come into existence, who remains outside them, and what happens when a fund ceases to exist; markets where insurance is available but the products no longer match the risk, and those areas where insurance penetration is low.

As an ecosystem we have answers. TCC's challenge is to take the possibility and sentiments from the industry and turn them into viable solutions. The study is anchored around five hypotheses for addressing protection gaps in property; open for collaboration, insights and challenge from the entire industry.

The evidence base.

TCC's work is grounded in analysis of the protection gap and the availability of insurance based solutions. A full TCC position paper is in development.

Regulatory — Bank of England / PRA, April 2026

Mind the Gap: A UK Microprudential Perspective on General Insurance Protection Gaps

The PRA on record: the problem is real, structurally significant, and beyond capacity fixes alone.
Industry — Aon, January 2026

Climate and Catastrophe Insight 2026

Global economic losses from natural disasters reached $260bn in 2025. Insured losses of $127bn marked the sixth consecutive year above the $100bn threshold. The long-term trend is clear: weather exposures are rising.
Think Tank — The Geneva Association, 2018

Understanding and Addressing Global Insurance Protection Gaps

The industry's own highest-level think tank confirms: closing the protection gap requires a multi-stakeholder effort. $3.4tn in uninsured nat cat losses, 1980–2017.
Primary Research — Rosina Smith, MBA Dissertation, Henley Business School

Why Insurtech Adoption Keeps Failing — and What We Can Actually Do About It

MBA research at Henley Business School: why, despite genuine capacity and innovation, meaningful insurtech adoption in nat cat (re)insurance remains low. Four findings — on motivation, procurement, internal incentives, and credibility — drawn from interviews with fourteen senior practitioners across the US and UK.
Request a copy
TCC — In Development

Closing the Promise Gap: How Insurance Can Reach the Communities That Need It

TCC's founding position paper. Publication H2 2026.

Get in touch.

We are in our founding phase. If you work in insurance, risk, policy, development finance or community resilience, and you recognise the gap TCC exists to fill, we want to hear from you.

Whether you want to join the founding group, explore a research partnership, or simply understand more about what TCC is building, reach out.

The Covered Collective is a trading name of RS Works Ltd.
Registered in England and Wales. Company Number 17187693.