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ACRE Africa: Protecting Rural Africa Through Creative Partnerships and Technology

ACRE Africa: Protecting Rural Africa Through Creative Partnerships and Technology

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Since its inception in 2009, ACRE Africa - the Agriculture and Climate Risk Enterprise , which evolved from the Kilimo Salama project, has benefited extensively from GIIF’s financial, technical and operational assistance, continuously enhancing its institutional capacity to underwrite agriculture insurance for smallholder farmers. GIIF’s intervention ranges from providing core insurance trainings and upskilling, which are the backbone of innovative solutions to close the protection gap, to funding relevant WB-led activities including fostering a successful public-private partnership for Kenya
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GIIF in Senegal: Providing Financial Protection to Small Farmers Through Index Insurance

GIIF in Senegal: Providing Financial Protection to Small Farmers Through Index Insurance

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Senegal is a strong example of continuous improvement in agriculture insurance sector from GIIF’s long-term financial, operational and technical support. At present, in addition to targeted technical trainings, GIIF’s focus is to scale up product offerings of the country’s national agriculture insurance company Compagnie Nationale d’Assurance Agricole du Sénégal (CNAAS) and modernize its technological infrastructure. While agriculture in Senegal contributes to 35% of annual GDP, the systems are largely rain-fed and underdeveloped. The country is vulnerable to several climate-related risks
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GIIF in Zambia: Over 200,000 Farmers Compensated in Drought-stricken Zambia

GIIF in Zambia: Over 200,000 Farmers Compensated in Drought-stricken Zambia

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Since 2016, GIIF has been providing technical assistance to Mayfair Insurance, a private insurer registered in Zambia, to build its capacity to underwrite insurance products that protect vulnerable farmers against weather-related crop losses. Mayfair works with select aggregators to more efficiently reach the target farmers and has also been contracted by the Ministry of Agriculture to develop insurance products that can be bundled together with the government input subsidy package under the Farmer Input Support Program (FISP). This way, the input subsidy received by each farmer would be
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Global Index Insurance Facility (GIIF) Interview with Steven Collet, Director and Ambassador for Business and Development at the Ministry of Foreign Affairs of the Netherlands
27
Jan

Global Index Insurance Facility (GIIF) Interview with Steven Collet, Director and Ambassador for Business and Development at the Ministry of Foreign Affairs of the Netherlands

On Jan 23, 2020, Steven Collet, Director and Ambassador for Business and Development at the Ministry of Foreign Affairs of the Netherlands, received an interview with the GIIF team in Washington, DC about his policy priorities, his expectations in GIIF, and the newly launched Dutch Fund for Climate and Development (DFCD). A major donor to GIIF, the Government of the Netherlands, supports the Program in more than 10 countries in Africa and Asia, including special initiatives such as the insuretech-related innovations and the capacity building activities targeted to (re) insurers to establish an
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InsuResilience Hosted Its Global Partnership Forum 2019

InsuResilience Hosted Its Global Partnership Forum 2019

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The InsuResilience Global Partnership Forum 2019 In December 2019, the 3rd InsuResilience Global Partnership Forum took place at the margins of the UN Climate Change Conference COP 25. Around 150 people from G20, V20 and other countries, international organizations, civil society, the private sector and academia came together to discuss the role of climate and disaster risk finance and insurance (CDRFI) solutions for strengthening adaptation and resilience, with a focus on the Caribbean and Latin America. Read more The Natural Disaster Fund (NDF) Launched at COP25 At the UN Climate Change
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Seeds for a Better Future: Financial Resilience through Agricultural Insurance
17
Jan

Seeds for a Better Future: Financial Resilience through Agricultural Insurance

Xiaoting Huang
Agricultural insurance can provide vulnerable agriculturalists with certainty in the face of natural disasters such as drought, reducing dependence on harmful coping mechanisms, and ultimately leading to increased financial resilience of the individual and the wider community and economy. This 90-minute tech session provided an overview of how the World Bank and IFC jointly support governments, private sector insurers, and households to manage financially in an increasingly volatile world. Three country cases (Zambia, Nigeria, and Pakistan) were presented and discussed at this tech session. Mr
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Seeds for a Better Future: Financial Resilience through Agricultural Insurance

Seeds for a Better Future: Financial Resilience through Agricultural Insurance

17
Jan
Author:
Jill Huang
On November 19th, 2019, Fatou Assah, GIIF program manager, and John Plevin, Financial Sector Specialist of Crisis and Disaster Risk Finance (CDRF) co-hosted a tech session as part of the FCI Knowledge Exchange Week in Washington DC. Agricultural insurance can provide vulnerable agriculturalists with certainty in the face of natural disasters such as drought, reducing dependence on harmful coping mechanisms, and ultimately leading to increased financial resilience of the individual and the wider community and economy. This 90-minute tech session provided an overview of how the World Bank and
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GIIF Delivered Index Insurance Training with Africa Re in Nigeria

GIIF Delivered Index Insurance Training with Africa Re in Nigeria

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From December 2 - 6, 2019, the IFC in collaboration with Africa Re delivered training to the Nigerian insurance market as part of the Index Insurance Technical Assistance Program, which will run until December 2020 and is funded by the WBG’s Global Index Insurance Facility. The program is aimed at providing technical capacity to insurers interested in developing products that will build the resilience of smallholder farmers in the country. In 2019, the number of insured smallholder farmers increased from approximately 15,000 in 2018 to approximately 191,000. The event took place at the Golden
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Index Insurance： A Viable Solution for Irrigated Farming?

Index Insurance： A Viable Solution for Irrigated Farming?

Content owner:
Index Insurance： A Viable Solution for Irrigated Farming?
Author:
Rathnija Arandara, Shanuki Gunasekera, Agrotosh Mookerjee
“Product development is a continuous learning process. When it comes to index insurance for agriculture, product development in the Sri Lankan market has been a challenge, as agriculture here is dependent on dual sources of water: rainfall and irrigation. ‘Index Insurance ： A Viable Solution for Irrigated Farming?’ is an attempt to capture our experience in developing a hybrid index insurance product to address the farmer’s needs in this context, with lessons for replication” (Authors). Funded by the World Bank Group’s Global Index Insurance Facility (GIIF), the index insurance pilot is part
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GIIF Seminar on International Experience with Agriculture Insurance: Providing Financial Protection Against Climate Risks
04
Dec

GIIF Seminar on International Experience with Agriculture Insurance: Providing Financial Protection Against Climate Risks

On November 15, 2019, the Global Index Insurance Facility (GIIF) hosted a full-day seminar, International Experience with Agriculture Insurance: Providing Financial Protection Against Climate Risks, in Washington, DC. In his opening remarks, Mr. Olivier Mahul, Practice Manager of Crisis and Disaster Risk Finance (CDRF), reflected on his 15-year career at the World Bank starting with involvement in Index-based livestock insurance (IBLI) in Mongolia followed by crop insurance scheme in India to offer his insights on how the agriculture insurance has evolved by tacking various challenges. He
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