This article explores the urgent need for the insurance industry to effectively address the growing risks posed by climate change, particularly for vulnerable communities in the Global South. It highlights the stark inequality in insurance access, where the most affected regions often lack the necessary coverage or financial protection. It will touch on greater data transparency, proactive risk reduction, and innovative financial mechanisms beyond traditional insurance, emphasizing the role of the private sector, including fintech and technology companies, in building resilience. It also showcases successful examples of climate risk management and urges insurers to shift from a reactive to a proactive approach, incentivising disaster preparedness and resilience-building.