Index Insurance Forum

Latin America & the Caribbean

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9
Aug
The risk of drought is one of the biggest threats to livestock production in Uruguay. This is particularly relevant in livestock breeding bases, as the quality of the available pasture directly affects the quality of the livestock, and livestock fertility takes years to recover from bad droughts. In 2011 The World Bank Group (WBG) launched a feasibility study on developing an Index Insurance pilot in Uruguay, funded by the Government of Japan through the Global Index Insurance Facility (GIIF). The study quantified the total number of reproductive livestock units as 3.8 million countrywide,...
In 2011 The World Bank Group launched a feasibility study on developing an Index Insurance pilot in Uruguay, funded by the Government of Japan through the Global Index Insurance Facility. The study quantified the total number of reproductive livestock units as 3.8 million countrywide, with 315 million USD total sum insured. The corresponding number of livestock producers was estimated at 38,000. The outputs of this technical and financial assistance has allowed the Government of Uruguay to start pilot testing an innovative Normalized Difference Vegetation Index (NDVI) index insurance to cover...
Global Index Insurance Facility has produced a report that captures the Program’s achievements and on the progress of project implementation during phase one: 2010-2015. These achievements and lessons learned are the result of joint efforts, hard work and commitment with GIIF's implementing partners on the ground as well as generous support from the donors. Prepared collaboratively by the GIIF team across the globe, this report also offers a snapshot of past and future activities, including GIIF’s roles in capacity-building, outreach and communications efforts. Available in English and in...
Panos Varangis
Panos Varangis, the World Bank Group's Global Lead for agricultural finance and agricultural insurance in the Finance and Markets Global Practice, was speaking at a World Bank event on index insurance in Santo Domingo, Dominican Republic's Diario Libre reports. To an audience, Mr. Varangis was presenting index insurance as an alternative financial instrument that can protect agricultural producers in Dominican Republic from hurricanes, tropical storms, and floods. The country loses an average of US $450 million a year since 1961 by events associated with these types of disasters. Dominican...
Poor farmers all over the world are increasingly falling prey to natural disasters, droughts and torrential rain largely due to climate change. But there is some good news as well. Thanks to new technologies, the widespread use of satellites, and more powerful computers, such events can largely be predicted in advance, thus making possible novel and more efficient insurance schemes for those at risk. In an interview with AFP, Gilles Galludec, Program Manager of the World Bank-run Global Index Insurance Facility discusses how index insurance schemes differ from traditional indemnity coverage...
19
Jan
This post was originally produced during the GIIF Conference held in Paris at the OECD Headquarters. The 6 key lessons learnt that emerge from the panel are as follows: Insurance needs to be part of a value add package that generates higher income for the farmers Governments play a key role in creating markets for agricultural insurance. Experiences in Peru, India and Senegal point to government interventions such as premium support, risk financing, and linkage to credit. There is a need to design and offer the right insurance product. Area Yield Index Insurance may offer an adequate...
Farma Bagayoko works in a greenhouse filled with tomatoes at the Sidibe Argo-Techniques in Katibougou Village, outside Bamako, Mali on November 3, 2013. Sidibe Argo-Techniques is growing watermelons, sweet peppers, tomatoes and other vegetables. Photo © Dominic Chavez/World Bank
15
Dec
Interview with Xavier Gine, Lead Economist within the World Bank Research Department (DEC). 1/ What do we know about index insurance after about 10 years of experience? There has been a lot of research around the question of take-up and impact of index insurance . Despite the potentially large welfare benefits, voluntary take-up of index insurance products has been rather limited so far. Explanations for this low demand could include: The first reason is that the product may be expensive , relative to the existing risk coping strategies. After all, when it is not subsidized as is the case for...

Gloria Grandolini, F&M GP Senior Director, World Bank Group

Interview with Gloria Grandolini, F&M GP Senior Director, World Bank Group Over the last 10 years , our work at the World Bank Group (WBG) has led to over 35 million farmers benefiting from new or improved insurance products. The WBG recognizes the importance of making available financial solutions, particularly insurance instruments to compensate for losses following adverse natural events.
20
Jul
What happens when a major national development organization – GIZ and a leading private insurer – Allianz SE get together to build innovation in micro-insurance? Watch full video of the event here Experts presented key insights on micro-insurance with a larger view on how these lessons learnt can be applied to other inclusive insurance projects and to various other sectors. The 60 minute session showcased case-studies ranging from how GIZ has assisted Allianz in turning a corporate responsibility charitable micro-insurance story into a fully-fledged and profitable micro-insurance business...
1
Apr
This map was created using data on rural loans. The GIS analysis shows where the density of loan amounts is higher (as opposed to where there are more individual loans). It is meant to highlight where the larger loans are concentrated. Notice that there are areas with many individual loans and low amount density. The methodology used to draw the map is as follows: The banks provided portfolio data with x/y coordinates in WGS84 format, which where projected and added to a basemap. Using the “point density” geographic analysis under the spatial analyst in ArcGIS 10.3, we derived a density of...
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