Index Insurance Forum

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Jacinta at her maize farm / Cr: ACRE Africa
8
Mar
ACRE Africa, a GIIF partner in East Africa, is a microinsurance product designer that helps foster equity, fairness, and innovation in the agricultural sector. As farmers in the region experience changing weather conditions, with delayed rain and more frequent incidents of drought, ACRE Africa engages stakeholders along the agricultural value chain and advises insurers on the development and distribution of low-cost insurance to protect smallholders’ investments. The following story is told by one of the beneficiaries of ACRE Africa. Jacinta Mutuse is a 36-year old farmer and the mother of...
Tens of thousands of smallholder farmers in Ethiopia have benefited from the country's first weather index insurance payment to cover the loss for the previous year's crop failure due to El Nino, AllAfrica reports . The weather index insurance payouts of 2.6 million birr were part of the pilot insurance initiative supported by UNDP, the Global Environment Facility, the country's Ministry of Environment, Forest and Climate Change.
Ms. Fatou Assah (left) , Program Manager of the WBG's Global Index Insurance Facility (GIIF), and Mr. Antoine Bavadi (middle) , Financial Sector Specialist from the Disaster Risk Financing and Insurance (DRFI) Program, spoke at the 41st General Assembly of FANAF (African Federation of Insurance Companies for African national law) on February 14. 2017 in Marrakech. Both World Bank experts were sharing their international experiences with index insurance and catastrophic risk financing as risk management tools to protect communities from natural disasters and environmental hazards. The panel,...
Ms. Fatou Assah (left) , Program Manager of the WBG's Global Index Insurance Facility (GIIF), and Mr. Antoine Bavadi (right) , Financial Sector Specialist from the Disaster Risk Financing and Insurance (DRFI) Program, spoke at the 41st General Assembly of FANAF (African Federation of Insurance Companies for African national law) on February 14. 2017 in Marrakech. The World Bank experts were sharing their international experiences with index insurance and catastrophic risk financing as risk management tools to protect communities from natural disasters and environmental hazards. The panel,...
In November 2016, the World Bank Group’s Global Index Insurance Facility (GIIF), in collaboration with the International Labor Organization and Munich Re Foundation, organized a conference workshop entitled “Building Sustainable Agriculture Programs” in Colombo, Sri Lanka. Delivered as part of the 12th Annual Micro Insurance Conference, the daylong technical workshop brought together more than 50 participants from the public and private sector, donors, and development partners. Amena Arif, IFC country manager for Sri Lanka and the Maldives, and Rolande Simone Pryce, advisor from the World...
As the 2016 short rains came late, Kenya's Meteorological Department had to warn that the shortfall might affect crop production and livestock farming, Kenya's Daily Nation reported. The country and other Southern African nations are currently witnessing two kinds of drought — hydrological and agricultural — both of which are causing disaster as water and food have become scarce, the report added. “We are at the point where people need to adapt. There is need for diversification and shift in the kind of crops to plant, and buying of crop index insurance,” says Department of Meteorology's...
More than 30 participants from seven African nations gathered in Johannesburg for two weeks in October 2016 to focus on the fundamentals of index insurance, and to discuss a wide array of development-related topics ranging from product design to project management. The workshop, entitled “Agriculture Insurance Training,” was organized by the World Bank Group’s Global Index Insurance Facility (GIIF). Co-managed by the International Finance Corporation (IFC), GIIF provides smallholder farmers, rural residents, microentrepreneurs and microfinance institutions with access to finance through the...
The World Bank has worked with insurers, reinsurers, brokers, banks, agribusinesses and governments to develop index insurance programs through the Disaster Risk Financing and Insurance Program and the Global Index Insurance Facility, managed out of the Finance and Markets Global Practice. As climate change adaptation and disaster risk management have become mainstream in development work, focus on index insurance has increased because uninsured losses keep vulnerable populations in poverty. In a World Bank feature story, two experts reflect on their work on index insurance and its use as a...
Ghana is celebrating its Farmers’ Day with the theme "Agriculture: A Business Response To Economic Growth". The theme focuses on addressing alternative financial and agricultural solutions that will protect farmers from erratic weather conditions. One of the innovative solutions the country has is the project dubbed “Innovative Insurance Products for the Adaptation to Climate Change” (IIPACC), led by the German Development Co-operation (GIZ), in concert with other relevant stakeholders. "The project, which started in December 2009, sought to facilitate the development and introduction of...
31
Oct
In a CGAP blog, Lisa Morgan and Craig Churchill wrote that financial inclusion can and should play a critical role in boosting a nation’s health and well-being. But with savings and credit alone, it is difficult to cope with catastrophic losses, which really should be covered by insurance, ideally through a universal health coverage scheme as stipulated by the UN's Sustaianble Development Goal (SDG). Together savings, credit, and insurance can be a powerful poverty fighting triad. Given today’s digital advances, there are more opportunities than ever for financial inclusion find smarter ways...
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