Index Insurance Forum

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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...
24
Jun
Last week, the United Nations’s Secretary General - Ban Ki-Moon, welcomed over 200 insurance representatives at the United Nations (UN) headquarters in New York for the 17-June UN Insurance Forum. During his inspiring speech, Ban Ki-Moon remarked that this was the first time that a UN Secretary General has ever met a congregation of global insurance leaders. He stressed that this was by no means a chance encounter and called upon the insurance industry to play a strong role in the quest for a more sustainable post-2015 world. He stressed that insurers should invest wisely into sustainable...
17
Jun
SEPTEMBER 14 and 15, OECD Headquarters, PARIS Climate risk and its impact has been an issue of key significance for the insurance industry. Risks are outlined for all eco-systems, societies, economies, industries and agriculture. Is Index Insurance the Solution? Index insurance is an innovative financial instrument to help poor smallholder farmers manage the increasing climate risks to their harvests. Index insurance will allow farmers to survive adverse weather or destroyed harvests and potentially open up agri-credit markets; enabling farmers to protect their assets and invest in their...
16
Apr
Join us for a Webinar on Thursday, 16 April 2015, 14:30 to 15:45 CEST/ 8:30 AM EST Register here The sustainability of agriculture insurance programmes relies primarily on reaching scale and controlling the costs of distribution. With this in mind, insurers are designing meso-level insurance policies that cover the entire portfolio of an aggregator. But while there are promising gains, there is still much to learn from implementing these solutions to achieve scale and efficiency. Jointly organized by the Global Index Insurance Facility and the ILO’s Impact Insurance Facility, this webinar...
1
Apr
“ We’re all Senegalese, and we should all have access to insurance ” says Yoro POULO BA, a groundnut farmer from Ndoffane, a commune from the center of Senegal who just received insurance payouts as part of the GIIF-supported index insurance project. This year, the rains during the month of July - the sowing period for groundnut - were extremely low, therefore triggering automatic payouts for what is called “sowing failure”. The payouts that he has received amount to about 30% of the total insured amount, which is the amount of credit that he has borrowed for seeds and fertilizers needed for...
Download full publication here. The International Association of Insurance Supervisors (IAIS) is a voluntary membership organisation of insurance supervisors and regulators from more than 200 jurisdictions in nearly 140 countries. The mission of the IAIS is to promote effective and globally consistent supervision of the insurance industry in order to develop and maintain fair, safe and stable insurance markets for the benefit and protection of policyholders, and to contribute to global financial stability.
Supported by the Global Index Insurance Facility (GIIF), the International Finance Corporation (IFC) is working with its partner, Green Delta Insurance Company (GDIC), to develop insurance products to address perils such as drought, excess rain, heat waves and cold spells in Bangladesh. This project has been providing technical support to Green Delta for weather data analytics, risk rating, pricing, and product design, and has been engaging with distribution channels in the country since 2015.
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