Index Insurance Forum

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29
Oct
Vijayasekar Kalavakonda, GIIF Senior Financial Sector Specialist, talks about current GIIF's activity in Pakistan. Could you please tell us about what the Global Index Insurance Facility is doing in Pakistan? The “ Punjab Agriculture and Rural Transformation Project " is currently under implementation after it was approved in December 2017. Led by the World Bank Group’s Agriculture Practice, the project aims at increasing the productivity of crop and livestock farmers, improving their climate resilience, and fostering agribusiness development in the Punjab Province of Pakistan. Global Index...
GIIF and ILO's Impact Insurance Facility jointly published a paper entitled "Unlocking Smallholder Credit: Does Credit-Linked Agricultural Insurance Work?" Authored by Independent Researchers Richard Meyer and Peter Hazell and World Bank Group's Panos Varangis, this paper reviews possibilities for, and experience with, credit-linked crop insurance, including different types of insurance and credit arrangements, ranging from insurance sold to individual farmers to meso insurance sold to financial service providers (FSPs) to cover losses suffered by farmer borrowers.
Agri-insurance is a financial product that protects farmers from potential losses resulting from weather events or disease. By enabling farmers to protect their businesses, agricultural insurance also reduces lending risks, which increases the amount of credit available in this vital sector. In Ukraine, IFC and Syngenta worked together to pilot-test index insurance — which bases claims on independently verifiable weather data — for wheat and corn. This SmartLesson explores the possibility of developing index insurance as a new and important financial instrument that helps farmers and...

GIIF Book Launch: Opening Remarks and Discussion (Full Video)

On June 29, 2017, Finance & Market's Global Index Insurance Facility of the World Bank Group had an official book launch of Risk Modeling for Appraising Named Peril Index Insurance Products. The groundbreaking publication on modeling index insurance products is a practical guide for the insurance practitioners to design and develop better index insurance in order to ultimately provide protection to more low-income customers, including smallholder farmers in developing countries. The session, moderated by Samuel Munzele Maimbo, Practice Manager in WBG's Finance & Markets, had the...

GIIF Book Launch: Presentation and Reactions

On June 29, 2017, Finance & Market's Global Index Insurance Facility of the World Bank Group had an official book launch of Risk Modeling for Appraising Named Peril Index Insurance Products. The groundbreaking publication on modeling index insurance products is a practical guide for the insurance practitioners to design and develop better index insurance in order to ultimately provide protection to more low-income customers, including smallholder farmers in developing countries. In this video, authors Mr. Shadreck Mapfumo, Senior Financial Specialist in the World Bank Group, and Dr...
More than 30 participants across Asia gathered in May 2017 in Jakarta to attend a regional workshop focusing on index insurance fundamentals and to discuss best practices in the development of the innovative financial product. The week-long workshop entitled “Fundamentals of Named Peril Index Insurance Risk Transfer Process” was sponsored by the Global Index Insurance Facility (GIIF) as part of its capacity building activities aimed at the development and enhancement of index insurance products in developing countries. Managed by the World Bank Group’s Finance & Markets Global Practice,...
More than 50 participants from 13 African nations gathered in Accra, Ghana, from May 1-5, 2017 to attend a regional workshop focusing on the fundamentals of risk modeling for index insurance and to discuss a wide array of agricultural insurance topics. “ The Risk Modelling and Strategic Decision Making for Index Insurance” workshop was organized by the Global Index Insurance Facility (GIIF), in collaboration with African Reinsurance Corporation. Managed by the World Bank Group’s Finance & Markets Global Practice, GIIF provides smallholder farmers, pastoralists, microentrepreneurs, and...
The International Finance Corporation (IFC) and specialist reinsurance company Reasuransi MAIPARK Indonesia have agreed to develop insurance products to help local farmers mitigate weather-related risks, Jakarta Globe reports . The agreement will establish insurance schemes that pay out benefits to farmers if a weather event exceeds levels in a predetermined index — which will measure rainfall levels, temperatures, wind speeds and crop yields, expected to provide cheaper and less complicated insurance benefits to farmers in the event of a natural disaster. "The region's changing climate has...
8
Jun
As part of this year's European Development Days (EDD 2017), GIIF hosts a session entitled "Index Insurance: An Innovative Tool for Risk Management and Resilience Building" on June 8, 2017, at Tour & Taxis in Brussels. The 75-minute session, under the event's theme of "Partnering with the Private Sector, explores how building stronger and sustainable public-private partnerships can create market solutions that champion climate change adaptation. Moderated by GIIF Program Manager Fatou Assah, the panel will be joined by: Ken Aghoghovbia , Deputy Managing Director/Chief Operating Officer -...
Index insurance is commonly perceived to be complicated and difficult to evaluate. This is one reason index insurance products have not yet achieved high penetration in developing countries, despite their clear potential to improve the risk management options for vulnerable populations. This guide attempts to close the knowledge gap to grow this important market and provide protection to more low-income customers. A central goal of this guide is to promote clear communication of the features of products developed to facilitate informed decision making by new and existing buyers of index-based...
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