The core objective is to strengthen insurance services that support the risk management needs of rural households.
South Asia
The core objective is to provide better information on rice crop growth for food security policy and to reduce the vulnerability of smallholders in rice production caused by natural catastrophes.
The overall aim of the project is to strengthen resilience against disruptive weather phenomena and climate change at the national, regional and local level in three partner countries: Tanzania, Peru, India.
The overall aim of the project is to co-develop new catastrophe risk models for floods in the Philippines and cyclone in Bangladesh, and to quantify the impacts of climate change on flood risk, to support risk management decisions and risk-based financing.
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The potential of agriculture and insurance is greatly restricted by many challenges faced throughout the product lifecycle - from product design to client delivery to claim processing. Insuretech, at the intersection of insurance and technology, holds the potential to overcome those challenges and transform the insurance landscape. Integrating Insuretech innovations with agriculture insurance promises to enhance product design, improve sales and distribution, facilitate premium collection, and optimize servicing and claims processing. To leverage innovative solutions, the Global Index
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Green Delta Insurance Company, in cooperation with GIIF and IFC, pioneered weather index insurance in Bangladesh with an aim to mitigate farmers’ risks and losses associated with uncertain weather changes. This video summarizes key elements of the index product and its benefits to farmers combat climate risks.
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Green Delta Insurance Company, in cooperation with GIIF and IFC, pioneered agriculture insurance in Bangladesh with an aim to mitigate farmers’ risks and losses associated with uncertain weather changes. Before the launch of the agri-insurance on 8th December 2018, pilot projects in 8 districts were run across Bangladesh for last 3 years, with the support of Business Finance for Poor-Bangladesh (BFP-B) Challenge Fund & Agriculture Value Chain Project of USAID. The video features a short documentary of one such pilot project conducted at Chitolmari village of Bagerhat District.
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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
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Global Index Insurance Facility
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With each passing year, the risks of unabated climate change are mounting. Climate change will not only make it more difficult to feed the projected 10 billion people by 2050, but its impact is already being felt in the form of reduced yields and more frequent extreme weather events that affect crops and livestock. Providing risk mitigation solutions such as agriculture insurance for the farming community to be able to face the impacts of natural disasters is, therefore, significant. More than 30 participants from eleven countries from across Africa, Asia and Europe gathered in Colombo, Sri
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Sep
Participants from the public and private sectors in Sri Lanka and other Asian nations will spend a week in Colombo to learn about the topic of agriculture and index insurance. This workshop is enhanced by the participation of critical players in the local market together with GIIF/IFC partners from Asia and Africa, who bring diverse experience to the discussion. For more information, please contact: sgunasekera@ifc.org