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Assessing Value from Index Insurance Products

Assessing Value from Index Insurance Products

Published on:
Topics:
Satellite data
Country:
Burkina Faso
The Joint GIIF-GAN Knowledge Sharing Forum “Assessing value from index insurance products” was organized by the Global Index Insurance Facility of the World Bank Group, USAID and Impact Insurance Facility of ILO in the morning of 16 September in Pacifica Headquarters in Paris. The client value of the cotton insurance project in Burkina Faso, implemented by PlaNet Guarantee, was assessed using 2 methodologies based on a double trigger approach. The scheme works on the average yield approach of the Group of Cotton Producers (GCP) and the yield of the neighbouring GCP in order to avoid all
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Innovative Microinsurance Protects Poor Farmers Against Climate Change

Innovative Microinsurance Protects Poor Farmers Against Climate Change

Published on:
Topics:
Data
Satellite data
Product design
Weather index
Product distribution
Country:
Kenya
Rwanda
Tanzania
For several years, insuring harvests against the climate hazards that regularly destroy farmers’ crops in developing countries has for several years been a major tool in the fight against poverty, mainly in Africa and Asia, where between 400 and 500 million farmers survive on very low incomes. At the Convergences World Forum in Paris on 9 September 2015, Syngenta Foundation for Sustainable Agriculture and GIIF speak about the innovations in index insurance and the success of the Kilimo Salama project in Kenya, Rwanda, Tanzania. Expanded in 2014, the program develops and offers insurance for
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MicroEnsure – Providing Cover for the Under-insured Mass Markets in Africa

MicroEnsure – Providing Cover for the Under-insured Mass Markets in Africa

Published on:
Topics:
Product distribution
Peter Gross, Regional Director in Africa with MicroEnsure, talks to Bank Innovation online magazine about how MicroEnsure is providing micro-insurance to 15 million people in 17 countries in Africa and Asia. He explains that the reason for the poor uptake of insurance in these mass market economies can be boiled down to 4 factors: cost, trust (or lack of it), access (or lack of it), and understading (or lack of it). Click here to read the full interview.
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How to accelerate Financial Inclusion of Individuals Engaged in Agriculture?
03
Feb

How to accelerate Financial Inclusion of Individuals Engaged in Agriculture?

Key findings from the Global expert workshop co-hosted by the Ministry of Foreign Affairs, Netherlands and the Rabobank Group and organized by the World Bank’s FISF initiative. Workshop report including links to presentations made at the workshop is available here: Report on Financial Inclusion of Agriculture-Dependent Households Need to focus on broader array of financial services rather than just credit or insurance for agricultural production. Agricultural households have a broad range of financial service needs, several of them for lifecycle and business needs not related to agriculture
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Favorable conditions for achieving scale, building markets and institutionalize index insurance
19
Jan

Favorable conditions for achieving scale, building markets and institutionalize index insurance

Rachel Sberro-Kessler
Data
Data management
Weather index
Area yield
Micro-level
Macro-level
This post was originally produced during the GIIF Conference held in Paris at the OECD Headquarters. The 6 key lessons learnt that emerge from the panel are as follows: Insurance needs to be part of a value add package that generates higher income for the farmers Governments play a key role in creating markets for agricultural insurance. Experiences in Peru, India and Senegal point to government interventions such as premium support, risk financing, and linkage to credit. There is a need to design and offer the right insurance product. Area Yield Index Insurance may offer an adequate
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New Trends in Agricultual Finance

New Trends in Agricultural Finance

Topics:
Data
Other frameworks
Product design
Livestock
Micro-level
Macro-level
Agricultural finance is crucial to support the growth of the agricultural sector. Indeed, it is essential for food security, job creation, and overall economic growth. This synthesis report presents a summary of research studies on five key areas of agricultural finance innovation prepared under the G20 Global Partnership for Financial Inclusion (GPFI), as well as the presentations and discussions of these study findings during the “G20 Roundtable on Innovations in Agricultural Finance” convened on September 9, 2015 in Antalya, Turkey by the Small and Medium Enterprise (SME) Finance Sub-Group
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Farma Bagayoko works in a greenhouse filled with tomatoes at the Sidibe Argo-Techniques in Katibougou Village, outside Bamako, Mali on November 3, 2013. Sidibe Argo-Techniques is growing watermelons, sweet peppers, tomatoes and other vegetables. Photo © Dominic Chavez/World Bank
24
Nov

Research on Index Insurance: What do we know and what do we not know?

General
Interview with Xavier Gine, Lead Economist within the World Bank Research Department (DEC). 1/ What do we know about index insurance after about 10 years of experience? There has been a lot of research around the question of take-up and impact of index insurance. Despite the potentially large welfare benefits, voluntary take-up of index insurance products has been rather limited so far. Explanations for this low demand could include: The first reason is that the product may be expensive, relative to the existing risk coping strategies. After all, when it is not subsidized as is the case for
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Insurance is an Important Tool to Protect the Most Vulnerable

Interview with Gloria Grandolini, F&M GP Senior Director, World Bank Group Over the last 10 years , our work at the World Bank Group (WBG) has led to over 35 million farmers benefiting from new or improved insurance products. The WBG recognizes the importance of making available financial solutions, particularly insurance instruments to compensate for losses following adverse natural events.
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Bundling Index Insurance with other Financial and Non-financial Services
28
Aug

Bundling Index Insurance with other Financial and Non-financial Services

General
Product design
Weather index
The Global Index Insurance Facility together with the ILO's Impact Insurance Facility, USAID and BASIS/I4-sponsored Global Action Network (GAN), organised a webinar to look into the question "How can index insurance be bundled with other financial and non financial services". This webinar featured speakers from global organizations who shared experiences and discussed which services and activities in the agriculture value chain are most aligned for bundling. It explored mechanisms and issues in bundling, and also looked into the possible impact of bundling on pricing & off-take of index
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Zambia

Market launch:
Country:
Zambia
Region:
Sub-Saharan Africa
Smallholder farmers in Zambia are vulnerable to weather-related shocks such as drought, flooding, and irregular rainfall. Insurance can be a good risk management tool for these farmers, but the traditional insurance market largely fails to meet their demand for affordable insurance. Index insurance provides an innovative and more efficient solution for them to protect their crops against losses and encourage investment. In March 2016, the Global Index Insurance Facility signed a capacity building grant with Mayfair Insurance, a private insurer registered in Zambia. The grant enabled them to
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