Index Insurance Forum

Activity Snapshot: Facilitating Dialogue on Index insurance between the Public and Private Sector

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In june 2016, over 60 participants gathered at the College of insurance in Nairobi to discuss best practices and share their knowledge and expertise on index insurance, particularly livestock insurance and agriculture insurance. The discussions were quite timely, as the Government of Kenya recently allocated US$6 million for crop and livestock insurance for smallholder producers for next year, as one of the ‘key government flagship projects to drive the transformative agenda’.  This is a five-fold increase in budget from the previous years with strong allocations toward data systems and premium subsidies.
 
The training offered an opportunity to bring the government and private sector players together to discuss future plans and to learn from each other. This knowledge-sharing event, “Operationalizing Index Insurance in Kenya” was attended by representatives from over a dozen insurance companies in Kenya, Zambia, and South Africa as well as government entities including the Insurance Regulatory Authority, the State Department of Agriculture, and the State Department of Livestock. “The training has given participants the valuable opportunity to learn more about NDVI (Normalized Difference Vegetation Index), area yield products, and other innovations in the field of Index Insurance,” said Mr. Vincent Githinji from the State Department of Livestock.
 
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