Côte d’Ivoire Project with AXA and Atlantique Assurances
In 2017, GIIF conducted a feasibility study to evaluate development opportunities for index insurance for producers in four agricultural sectors in Côte d’Ivoire, namely cocoa, cotton, maize, and rice. The study produced a risk mapping for these different crops and highlighted the expected added value of index insurance based on criteria such as the level of exposure to climate risks, the structuration of the value chain, the availability of agrometeorological data, etc. A workshop to present overall findings was organized in Abidjan in January 2018 with close to 50 participants.
To implement the pilot in the selected crops, GIIF signed a 2-year Grant Agreement in August 2018 with two local insurance companies – Atlantique Assurances Cote d’Ivoire (AACI) and AXA Cote d’Ivoire (AXA-CI). Both are expected to reach around 200,000 farmers by the end of 2020.
Côte d’Ivoire’s agricultural sector faces risks stemming from climate change which entail high production volatility. This phenomenon is threatening to hamper the country’s development as the agricultural sector contributes to approx. 23% of GDP; employs about two-thirds of the active population and generates around 55% of export earnings.