Index Insurance Forum

Sub-Saharan Africa

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What is Weather Index Insurance? By Mayfair Insurance

Mayfair Insurance, a GIIF Partner, has produced a video for awareness raising on index insurance during last season (2018).
On November 16, 2018, more than 50 participants from the Financial Sector Conduct and Prudential Authority of South Africa attended a training session on the fundamentals of index insurance. The training was the first step in providing the regulators with the needed information and skills for the upcoming index insurance pilot in the country, which aims to protect smallholder farmers from weather-related risks. The workshop was delivered by the Global Index Insurance Facility (GIIF) at the request of the South African Insurance Association (SAIA), the representative body of the short-term...
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Sep
GIIF Financial Sector Specialists will attend " 2018 Development Finance Forum: Unlocking Investment Opportunities in the East African Community " in Kigali, Rwanda. This year’s Development Finance Forum (DFF) in Kigali will bring together business leaders, policymakers, thought leaders and financiers from private and public sectors in the EAC and beyond to drill down together on what can be done to start to address some of the biggest challenges to scaling up private investment in housing, agribusiness, and tourism in East African Community (EAC) countries.
There are two major challenges with respect to agricultural insurance in Ghana: 1. Enrollment : Scaling performance of the agricultural insurance market remains low (very few products). The growth rate of the sector is very slow (36% from 2011–2016). Very poor performances in 2012 and 2013 when overall enrolment dropped by 84% and 86% respectively. These challenges are attributable to the complexity of insurance products, financial illiteracy, and aversion towards new risk management approaches. 2. Claims : The only prominent claim pay-outs were in 2015 where 1,701 farmers received a payment...
The core objective of the project is to develop and rollout mobile based bundled financial and advisory services. This project supports and engages with the public and private partners to develop services that are both economically viable and meet the demands of smallholder farmers in order to provide them with relevant, timely, high-quality information and services which will improve their agricultural productivity and increase their income.
The overall aim of the project is to prepare the ground for implementing risk transfer solutions within an integrated flood risk management approach for municipalities in GAMA, Ghana.
The core objective of the project to contribute to enhancing the resilience for people dwelling in drought prone areas such as southern parts of Oromia region and Somali region through a series of surveys/ studies and implementation of pilot projects.
The core objective of the project is to protect households from the economic shocks of livestock mortality due to drought.
17
Jul
Smallholder farmers in Sub-Saharan Africa are some of the most vulnerable to the effects of climate change and adverse weather events. Weather-based index insurance can help farmers become more resilient by giving them a tool to manage their risk, protect their investment, and maintain their livelihood. But the insurance industry in the region has been slow to develop these products, mostly because they lack the necessary technical skills and capacity; high-level training helps develop these skills to create new and innovative index-based insurance products in the regional market, which in...
The World Bank Group has approved additional $14.6m IDA (loan and grant) financing for the Strengthening Climate Resilience (PPCR Phase II) Project that will help strengthen Zambia’s institutional framework for climate resilience and improve the adaptive capacity of vulnerable communities in the Barotse sub-basin of the Zambezi. The project is also expected to help integrate financial and technical services such as savings, micro-credit, and index insurance into the existing approaches to sustainable agriculture and climate resilience.
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