Index Insurance Forum

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Mr. Tanguy Touffut of AXA Corporate Solutions discusses the benefits of parametric insurance, which he sees as a promising solution for farmers and other weather-sensitive industries against climate-change effects. It is nothing new: climate change, a phenomenon in full effect, has many drastic consequences of all types for people, companies, and entire economies alike. It has been observed that weather extremes are increasing as a consequence of climate change. In January 2015, AXA Corporate Solutions entered into a partnership with the World Bank’s Global Index Insurance Facility (GIIF)...
In an article entitled “Index insurance: What you need to know”, Devex interviews Gloria Grandolini, the WBG’s Senior Director, and Gilles Galludec, GIIF Program Manager, on the Global Index Insurance Facility and how index insurance works. To help encourage the spread of index insurance as a risk management tool, GIIF is working with regional partners in developing countries, primarily sub-Saharan Africa, Latin America and the Caribbean, and Asia-Pacific. Over 1 million small farmers, pastoralists and small businesses have signed on — with over $130 million in sums insured. Click here to...
Man scattering rice grains. Sta. Cruz, Laguna, Philippines. Photo: Danilo Pinzon / World Bank
15
Dec
Albert Einstein once remarked "if I were given one hour to save the planet, I would spend 59 minutes defining the problem and one minute resolving it." Good advice, but unfortunately all too often forgotten. The British post office (Royal Mail) at one point tried to improve its next-day delivery rate from 98 to 99%, in an attempt to improve customer perception of its services. The effort nearly broke the organization, while it would have taken much less effort and resources to simply tell the UK public about the post office's current performance -- surveys showed people thought it was...
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...
Presentation 1 - Setting the agenda –the industry perspective: Building disaster-resilient economies and sustainable markets. A call to the industry to develop innovative insurance solutions ( presentation by Jean -Laurent Granier,Member of the Management Committee, CEO Mediterranean and LAC, Chairman & CEO AXA Global P&C) Presentation 2 - The Drivers and Barriers of Innovation ( presentation by Ulrich Hess, Senior Advisor Sector Project Insurance GIZ ) Presentation 3 – Market Makers for Index Insurance – Role of Governments, Role of Regional Institutions in supporting Government...
22
Sep
Previously published here on the World Bank Group's Private Sector Development Blog How governments can ensure that low-income farmers are financially protected against natural disasters, such as droughts, was at the heart of a panel discussion at the “ Global Index Insurance Conference ,” which concluded earlier this week in Paris. The panelists explored various options, such as the disaster reserve fund FONDEN in Mexico as well as three index-based insurance programs aiming to protect vulnerable farmers: the African Risk Capacity , the Kenya Livestock Insurance Program, and the Mexican...
28
Aug
The Global Index Insurance Facility together with the ILO's Impact Insurance Facility, USAID and BASIS/I4-sponsored Global Action Network (GAN), organised a webinar to look into the question "How can index insurance be bundled with other financial and non financial services". This webinar featured speakers from global organizations who shared experiences and discussed which services and activities in the agriculture value chain are most aligned for bundling. It explored mechanisms and issues in bundling, and also looked into the possible impact of bundling on pricing & off-take of index...
Smallholder farmers in Zambia are vulnerable to weather-related shocks such as drought, flooding, and irregular rainfall. Insurance can be a good risk management tool for these farmers, but the traditional insurance market largely fails to meet their demand for affordable insurance. Index insurance provides an innovative and more efficient solution for them to protect their crops against losses and encourage investment. In March 2016, the Global Index Insurance Facility signed a capacity building grant with Mayfair Insurance, a private insurer registered in Zambia. The grant enabled them to...
17
Aug
Having many Sri Lankan friends in my home country of Australia, I have always wanted to visit Sri Lanka. The image of beautiful green tea plantations comes to mind, and perhaps rightfully so. This May, I had the opportunity to visit and understand more about their Index Insurance market through the Index Insurance Forum – a community of practitioners working towards market development and scalability in Index Insurance. The visit was part of a peer exchange with SANASA , an insurance company in Sri Lanka and a partner of the World Bank Group’s Global Index Insurance Facility (GIIF). The...
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...
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