This working paper applies the triple dividend of resilience framework to disaster risk insurance, in order to explore the potential contribution that insurance can make to building resilience and driving development at different scales in developing countries. While we recognise that insurance is only one component of a larger toolbox of risk financing instruments and of disaster risk management more generally, this paper focuses on disaster risk insurance to add an evidence-based perspective on the (co-)benefits and costs of such mechanisms to the broader debate. This working paper constitutes a critical business case for investments in the development, implementation and operation of disaster risk insurance approaches in developing countries.