Index Insurance Forum

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In Mozambique, agriculture accounts for approximately 32% of GDP and involves over 81% of the population (CIA, 2012). Yet, only a fraction of Mozambique’s potentially arable land is currently under cultivation.
GIIF activities in Mali started in 2010 based on a funding from AECF (Africa Enterprise Challenge Fund) and ILO (Microinsurance Innovation Facility).
In Kenya, where more than 96 percent of agricultural land is rain-fed and vulnerable to drought and erratic rain, mitigating weather-related risks for smallholder farmers is an important tool for unlocking credit.
Haiti is one of the most disaster-prone countries in the world with earthquakes, hurricanes and flash floods.
The project will achieve the following objectives by project completion: 1. Support the development of a simple, flexible, affordable Weather-Index Based Crop Insurance product that will cater to diverse client needs for food crops in Sri Lanka 2. Assist in developing institutional capacity of SICL (Sanasa Insurance) and select agents 3. Raise awareness among at least 50,000 farmers on the availability of the index insurance product/s and its benefits
PlaNet Guarantee has designed various index insurance products in Benin, Burkina Faso, Mali and Senegal. The project works with Banks, MFIs, Cooperatives and NGOs as main distribution partners in these countries.
MicroEnsure operated two main weather index insurance products in Rwanda: 1) Weather station-based product that provides coverage against dry spells and excess rain. To insure against the effects of dry spells, cumulative rainfall is measured daily over a pre-determined period (typically between 30 and 45 days). If the cumulative rainfall falls below a set threshold for the period, a payout is made. 2) Satellite-based product that also provides coverage against dry spells and excess rain. Cumulative rainfall over a number of consecutive decades (typically three decades for dry spells and one...
Guy Carpenter’s index insurance is distinguished by several unique features, including its use of a “portfolio pricing” model where the sum insured in a given region forms the basis for risk calculation. Compared to the alternative where each individual plot is priced separately, this method can result in lower premium costs by including more farmers and diverse areas in a group.
IFC will provide advisory services to PT. Reasuransi MAIPARK Indonesia (a specialist reinsurance company in Indonesia) in the following areas: (i) support technical design and development of an earthquake index insurance (EQII) product; and (ii) build capacity of PT. Reasuransi MAIPARK Indonesia and selected financial institutions to administer, price, and distribute the EQII product in retail.
The objectives are to create an index-based portfolio insurance product (to insure the agri-loan portfolio of CARD Inc.), and provide advisory services for an indemnity insurance product (insuring losses suffered by CARD agri-borrowers) – as well as build their capacity to administer the insurance products. The project will also provide advice/trainings for the effective management and administration of the products within CARD’s agri-lending operations.
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