Blog

29
Oct
Smallholder farmers hold the key to feeding Africa’s rising population. However, increasing risks from climate change-related crises threaten their ability to do so as these risks affect both agricultural productivity and food security. Though insurance can increase their resilience, few farmers have access to agricultural insurance. With overall insurance penetration at 2.78%(1) in Africa, and especially low agricultural insurance uptake, there is need to broaden the toolkit for smallholders to increase their resilience. To contribute to the efforts in increasing access to agricultural
28
Oct
Kenya, dubbed, Africa’s “Silicon Savannah” is leading the charge in technological innovations in financial inclusion. It is among the continent’s leaders in insurtech innovations. Could the widespread use of mobile money, coupled with a supportive regulatory environment spur the development of inclusive insurance for the underserved? These were among the questions that more than 60 insurance stakeholders recently addressed during the First Insurance Development Forum (IDF) -Microinsurance Network (MIN) Country Workshop on Inclusive Insurance in Kenya during September 28 and 29, 2022. Kenya is
25
Oct
Why was Kenya chosen as a focal country by the iDF Inclusive Insurance Working Group? According to Pedro Pinheiro the Insurance Development Forum’s (iDF) Inclusive Insurance Working Group (IIWG) has selected 21 focus countries through a rigorous process that aimed at ensuring diversity and took into consideration political will and stability; legal and regulatory environment; development of the insurance market; the presence and interest of the IIWG members, among other criteria. Out of those 21 countries, four priority countries (Mexico, Kenya, Indonesia and the Philippines) were chosen for
22
Oct
The Asosiasi Asuransi Umum Indonesia, the General Insurance Association of Indonesia, brought together regulators, practitioners, local and international (re)insurance companies at the 26 th Indonesia Rendezvous conference held in Indonesia between 12-15 October. The theme of this year's gathering ‘Toward Sustainable Future and Inclusive Growth’ is in line with the main theme of G20 Presidency of Indonesia ‘Recover Together, Recover Stronger.’ The G20 Presidency theme is a reflection of the pressure the world has been under due to the COVID-19 pandemic, and it emphasizes the importance of
06
Jul
The first part of the webinar session was a launch of the joint Geneva Association and Insurance Development Forum (iDF) paper titled " Insurance development in Emerging Markets: The role of public policy and regulation" introduced by Dennis Noordhoek (Director of Public Policy & Regulation at the Geneva Association). On the objectives of the paper Mr. Dennis Noordhoek began by noting that over the past ten years, the economies of many emerging markets have grown significantly, and during those periods insurance market in these countries has also experienced growth. Despite this growth
23
Jul
Well-designed insurance programs can help to improve farmers’ resilience, access to finance, and high-quality inputs. To this end, IFC and Zimbabwe's insurance regulator, the Insurance and Pensions Commission (IPEC), issued a press release highlighting their collaboration to create a market for agricultural insurance products in Zimbabwe. The goal is to protect smallholder farmers against weather-related crop damage and other shocks. Through this project, the team will assess the risks faced by smallholder farmers, and their coping mechanisms, and also evaluate the farmers' appetite for
22
Jul
In August 2020, the GIIF team commissioned a study by the Wageningen University and Research (WuR) to generate lessons learned in perception, adoption, and understanding of agriculture index insurance by firms and smallholders in Kenya, Senegal, and Zambia. The study was recently concluded. A review of the portfolios and experiences among three companies – ACRE Africa (Kenya), Compagnie Nationale d’Assurance Agricole du Sénégal ( CNAAS), and Mayfair Zambia – reveals successes, opportunities and challenges yet to be overcome in mainstream agriculture index insurance (AII) among farmers across
27
Jun
On May 18, colleagues from the Gender Innovation Lab at the World Bank hosted a webinar titled "Let her Grow: Addressing the productivity gap in agriculture—Barriers and promising interventions." The webinar presented the findings from three studies on productivity gaps between women and men farmers in Timor-Leste, Democratic Republic of Congo (DRC), and Côte d’Ivoire. These studies presented new evidence on the most binding constraints faced by women farmers, and effective interventions to address these constraints. Each of the studies examined different aspects of this issue and presented
26
Apr
Against the backdrop of a green and resilient recovery from the COVID-19 pandemic, the world’s attention is centered on closing the protection gap. Closing the protection gap will enable a swifter post-disaster recovery and ensure business continuity for the most vulnerable. The Global Index Insurance Facility (GIIF) team caught up with Pedro Pinheiro and Nick Moody of the Insurance Development Forum (IDF) for their reflections on closing the protection gap by insuring the missing middle. Pedro Pinheiro is the coordinator of the Inclusive Insurance Working Group, while Nick Moody coordinates
08
Mar
Nairobi, Kenya, March 8, 2022 – The Global Index Insurance Facility (GIIF), launched a competition for technology-led enterprises in Africa to offer innovative solutions for agriculture and inclusive insurance and announced 3 top winners: Omishtu-Joy (Ethiopia), Rural Farmers Hub (Nigeria), and AgroTech+ (Kenya). Powered by Sankalp Forum, the Africa AgTech & Inclusive Insurance Challenge aimed to celebrate and support young entrepreneurs who are working at the intersection of agriculture, insurance, climate, and gender to build resilience for rural populations. The Challenge offered an