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Rwanda to Host a Regional Conference on Micro-insurance

Rwanda to Host a Regional Conference on Micro-insurance

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Topics:
Public/Legal frameworks
Country:
Rwanda
Rwanda is hosting the 4th Eastern and Southern Regional Conference on Microinsurance aimed at sharing insights on inclusive insurance business models and strategies, Rwanda's The New Times reports. National agricultural insurance schemes and weather index insurance pilots will be discussed as tools for making agricultural insurance accessible to smallholder farmers.
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The Rise of Agricultural Index-based Insurance in Africa

The Rise of Agricultural Index-based Insurance in Africa

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Simon Kilgour and Mick McArdle at CMS Law-Now have penned an article suggesting that index insurance is gaining momentum in Africa. The article also discusses pros and cons of the innovative insurance provision.
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"Technology and Insurance: Building Resilient Agriculture" in Africa in Africa Re's African Insurance Magazine

"Technology and Insurance: Building Resilient Agriculture" in Africa in Africa Re's African Insurance Magazine

Content owner:
Africa Re
Author:
Africa Re
In the latest volume of the African Reinsurer magazine published in June 2017, GIIF Program Manager Fatou Assah discusses how the World Bank is helping African farmers to become more resilient against climate risks through the use of index insurance. The article entitled "Technology and Insurance: Building Resilient Agriculture in Africa", which also interviews AXA's Tanguy Touffut, FINACTU's Denis Chemiller-Gendreau, and African Risk Capacity's Assia Sidibe, examines innovative risk management and insurance, challenges and opportunities in agriculture insurance in the face of climate change.
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Thomson Reuters Foundation: As Drought Bites, Livestock Insurance Aids Pastoralists in Ethiopia

Thomson Reuters Foundation: As Drought Bites, Livestock Insurance Aids Pastoralists in Ethiopia

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Topics:
Livestock
Country:
Ethiopia
Ethiopian pastoralists have received payouts for index-based livestock insurance offered by a local insurance company, Thomson Reuters Foundation reports. In Ethiopia, livestock insurance schemes were initiated by the International Livestock Research Institute, which has been providing technical support for the design and monitoring of the index in the country, the report adds.
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Parametric Insurance: Closing the Protection Gap in Africa

Parametric Insurance: Closing the Protection Gap in Africa

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Topics:
General
Country:
Kenya
Rwanda
Tanzania
Parametric insurance has the potential to serve a significant developmental role in Africa, as it pays out benefits based on a predetermined index for losses resulting from catastrophic events, Clyde & Co's Max Ebrahim and Wynne Lawrence wrote in Commercial Risk Online. In the article, GIIF's collaboration with ACRE Africa, which is serving the populations in Kenya, Rwanda, and Tanzania, is also cited.
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Political Will Needed to Drive Africa's Agricultural Transformation, Debate Hears

Political Will Needed to Drive Africa's Agricultural Transformation, Debate Hears

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At its Annual Meetings in Ahmedabad in May, the African Development Bank (AfDB) identified political will as one of the key ingredients to the continent's agricultural agenda, AllAfrica reports. According to AfDB President, other key strategies the AfDB is proposing are the development of industrial agri-businesses to raise productivity in the sector and ultimately support economic growth. In addition, the region needs to support its young people who are providing weather index insurance and extension services.
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World Bank Partner Wins Innovation of the Year at the African Insurance Awards 2017
02
Jun

World Bank Partner Wins Innovation of the Year at the African Insurance Awards 2017

Pavis Devahasadin
Satellite data
Livestock
In May 2017, the International Livestock Research Institute (ILRI) was hailed as “Innovation of the Year” from the African Insurance Awards for its work on developing the index-based livestock insurance (IBLI) in the arid lands of Kenya and the Horn of Africa. Using Normalized Differenced Vegetation Index (NDVI) that monitors livestock stress and mortality based on grazing conditions, the innovation offers a more convenient, objective measure upon which insurance contracts can be written. Which such an index insurance, herders can recover losses more quickly during and after severe droughts
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Agricultural Index Insurance Gains Momentum in Sub-Saharan Africa

Agricultural Index Insurance Gains Momentum in Sub-Saharan Africa

Published on:
Topics:
General
Reinsurance and insurance stakeholders in Sub-Saharan Africa say momentum for index insurance solutions in the region continues to grow, Reinsurancenews reports. Speaking ahead of the 10th Consultative Forum on building disaster resilience amongst small-scale farmers through agricultural index insurance, FSB Chair of the IAIS Regional Committee for Sub-Saharan Africa, said: “agricultural index insurance in Sub-Saharan Africa is gaining momentum."
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“The Risk Modelling and Strategic Decision Making for Index Insurance” Technical Workshop

“The Risk Modelling and Strategic Decision Making for Index Insurance” Technical Workshop

Content owner:
Global Index Insurance Facility
Author:
Pavis Devahasadin and Tenin Fatimata Dicko
Topics:
Data
Product design
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
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IFC, Africa Re Develop Index Insurance Products to Increase Access to Finance for Farmers

IFC, Africa Re Develop Index Insurance Products to Increase Access to Finance for Farmers

Published on:
Topics:
General
Country:
Ghana
Accra, Ghana, 27 April 2017 – IFC, a member of the World Bank Group, and Africa Reinsurance Corporation supported a two-day technical workshop on risk modeling and strategic decision-making for index insurance products. Most of the agricultural land in Sub-Saharan Africa is rain-fed, and many regions are vulnerable to climate shocks such as drought, flooding, and irregular rainfall. To limit their losses in any given year, smallholder farmers often invest very little into their land, which leads to reduced yields and contributes to food insecurity. Insurance can be a good risk management tool
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