Index Insurance Forum

East Asia and Pacific

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According to a Thomson Reuters Foundation report , The African and Asian Resilience in Disaster Insurance Scheme (ARDIS), led by VisionFund International, the microfinance arm of World Vision, and Global Parametrics, a new venture backed by the British and German governments, is setting up to help up to 4 million poor people in Africa and Asia rebuild their lives after climate disasters. The insurance program will support mostly women farmers and their families, affected by droughts in Kenya, Malawi, Mali, Zambia and Cambodia, and by tropical cyclones in Myanmar.
The core objectives are to work collaboratively with governments to effect change in public policy and increase investment aimed at building safer and more resilient communities as well as to actively improve the capacity of people and businesses to better withstand future natural disasters.
In a Business Mirror (Philippines) Op-ed , Dennis B. Funa, the Philippines's insurance commissioner, wrote that the Binhi Micro-Crop Insurance Program of CARD Pioneer Microinsurance Inc. will benefit smallholder farmers face typhoon risks. When leading portfolios of micro-finance institutions are protected by insurance, farmers are also protected. The Binhi Micro-Crop Insurance is supported by the Global Index Insurance Facility and the Government of Canada.
A 24-page illustrated comic book on Earthquake Index Insurance in Bahasa Indonesia.
The core objective of Insurance Instruments for Adaptation to Climate Change to support insurance companies in providing affordable and sustainable insurance products to households and companies in China's rural areas to protect them against losses from extreme weather events.
The core objective of this ACRI+ project is to systematically reduce the impact of climate risks on a selected pilot city through risk transfer solutions. It also aims to support NDRC in implementing China’s National Climate Adaptation Pilots, to develop a comprehensive blueprint for climate adaption actions, to assist in the implementation of this blueprint, and to replicate this solution in other cities.
The high transaction costs of serving low-income clients in developing and emerging market economies demand innovative approaches and technological advancements. Challenges that inflate operational costs include data collection, processing and management, premium payment mechanisms as well as claims verification and settlement. Index insurance products, mobile payment devices or more accurate weather and agricultural-yield information based on satellite data are examples for innovative approaches that can help to overcome these challenges.
The core objective of Microinsurance Innovations Program for Social Security (MIPASS) is to improve risk protection for low-income Filipinos across the country through the introduction of affordable and comprehensive microinsurance products.
The core objective of "Natural Catastrophe Insurance for Low Income Groups in Asia" was to offer insurance services against the effects of extreme weather events in order to enhance the financial stability of financial cooperatives by protecting their credit portfolios. The insurance benefits are passed on to the low-income members of these institutions.
Asia needs to explore index Insurance and parametric solutions in its efforts to close the region's protection gap, according to the Monetary Authority of Singapore (MAS), Reinsurance News reports . “We must put in place mechanisms for the effective assessment, management, and transfer of disaster risks. Advances in technology, innovation, research, and market integration put us in a strong position to address these challenges,” Ravi Menon, MAS Managing Director, was quoted as saying.
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