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Index Insurance Helps Farmers in Bangladesh Build Resilience Against Climate Risks

Index Insurance Helps Farmers in Bangladesh Build Resilience Against Climate Risks

Content owner: 
Global Index Insurance Facility
Topics: 
Weather index
Supported by the Global Index Insurance Facility (GIIF), the International Finance Corporation (IFC) works with Green Delta Insurance to design and retail weather index insurance products that protect smallholder farmers and agribusinesses from climate risks. Access to finance provides a means for the farmers to sustain income and food security.
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Experiences in index-based insurance for farmers: lessons learnt from Senegal and Bangladesh

Content owner: 
Proparco's Private Sector & Development
Author: 
Chloe Dugger and Rachel Sberro
Language: 
English
Topics: 
Weather index
Product distribution
Micro-level
Meso-level
In Proparco's Private Sector & Development magazine, Chloe Dugger, Operations Officer in WBG's Finance and Markets Global Practice, and Rachel Sberro, Research Analyst on agriculture finance, write about WBG's Global Index Insurance Facility's experiences with index-based insurance in Senegal and Bangladesh. Their article focuses on micro- and meso-level approaches to distributing agricultural index insurance, which speeds up claims settlement by dispensing with loss assessments and payouts are determined on an objective basis, eliminating the risk of fraud. Please visit Proparco's...
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Green Delta Insurance Ltd. - Bangladesh

Market launch: 
2015
Topics: 
General
Product design
Weather index
Country: 
Bangladesh
Region: 
South Asia
Supported by the Global Index Insurance Facility (GIIF), the International Finance Corporation (IFC) is working with its partner, Green Delta Insurance Company (GDIC), to develop insurance products to address perils such as drought, excess rain, heat waves and cold spells in Bangladesh. This project has been providing technical support to Green Delta for weather data analytics, risk rating, pricing, and product design, and has been engaging with distribution channels in the country since 2015.
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IFC, Green Delta Crop Insurance for Farmers in Bangladesh to help Minimize Weather-related Losses

Tue, 02/24/2015
Topics: 
General
Weather index
Country: 
Bangladesh
In New Delhi: Minakshi Seth Phone: +91 11 4111 1000 E-mail: MSeth@ifc.org In Dhaka: Towheed Feroze Phone: +88 028833755 E-mail: TFeroze@ifc.org Dhaka, Bangladesh, February 24, 2015 – IFC, a member of the World Bank Group, has signed an agreement with Bangladesh’s leading private insurer Green Delta Insurance to develop insurance products for individual farmers, agribusinesses, and financial institutions lending to farmers for protection from weather-related risks such as drought, excess rain, and cyclones. IFC will assist Green Delta, an IFC equity client, to develop insurance products that...
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IFC, Green Delta Stand by Farmers

Wed, 02/25/2015
Topics: 
Weather index
Micro-level
Country: 
Bangladesh
International Finance Corporation (IFC) and Green Delta Insurance Company Ltd yesterday entered into an agreement to develop insurance products for farmers to protect them from weather-related losses. Advisory support will be provided for distributing the products, increasing lending to farmers and improving their risk profile. Kyle F Kelhofer, country manager of IFC, and Farzana Chowdhury, managing director of Green Delta, signed the agreement on behalf of their respective organisations, according to a statement. “Crop insurance will protect rural economy. Weather-index insurance will help...
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