From April 17 to 20, the Strategic Alliance on Climate Risk Transfer Solutions facilitated two high-level executive training on index-based livestock insurance in Mombasa, Kenya. The goal was to reflect on the Kenya Livestock Insurance Program (KLIP) – a flagship program in agricultural insurance – and define next steps for further improvement and implementation on national and county level. The World Bank and the International Livestock Research Institute (ILRI) are also involved in the Program and the gained knowledge is openly shared for other programs and countries to use. The presentation
Kenyan Herders Have Received Insurance Payouts amid Drought
The World Bank has stated that the Kenya Livestock Insurance Program (KLIP), an index insurance that insures vulnerable pastoralists in the northern counties, has so far paid out about 5.3 million U.S dollars to over 20,000 pastoralists, according to a Xinhua report.
As part of Devex’s Going for Goals series, GIIF Program Manager Fatou Assah discusses how satellite data help smallholder farmers gain access to insurance. The "Going for Goals" series explores "innovative financing mechanisms, asking how cross-sector collaboration can lead to improved outcomes, and discussing what it takes to build successful partnerships for change." in line with the Sustainable Development Goals. "We use satellite data to forecast if, for example, grass will grow enough for the cattle. And then we can tell herders, 'Do not move to that area because there won't be any feed,'
Thomson Reuters Foundation: As Drought Bites, Livestock Insurance Aids Pastoralists in 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.
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
UC Davis Launches $1.4m Project to Help Kenya’s Rural Poor
A $1.4 million grant from USAID is funding a University of California's project that will use a randomized, controlled trial to evaluate the impacts of combining programs that offer training, support, and aid with affordable insurance in Kenya. According to UC Davis , the new project is led by Michael Carter, a professor of agricultural and resource economics and director of the Feed the Future Innovation Lab for Assets and Market Access at UC Davis, and Dr. Andrew Mude from the International Livestock Research Institute (ILRI) in Kenya. Last year, Dr. Mude received the World Food Prize
Livestock Index Insurance Helps Kenyan Herders
Thomson Reuters Foundation reports that thousands of pastoralists across six counties in northern and eastern Kenya will get payouts this month under the Kenyan government's subsidized livestock insurance scheme. The disbursement will total nearly 215 million Kenyan shillings ($2.08 million), according to the article. Recently, the Government declared a national disaster after more than 2.7 million people across half of the country have been affected by a severe drought, the worst in six years. The Kenya Livestock Insurance Program (KLIP), launched last year, was developed by Kenya's Ministry
In the Eye of a Cyclone
In India's the Hindu, Sucharita Mukherjee, CEO of IFMR Holdings, wrote that risk management through a range of financial products can minimize losses to livelihood. "Catastrophes such as drought, floods and earthquakes not only impact the economy of a nation but also affect the very subsistence of poor and vulnerable communities," reads the Op-ed. The article also cites index insurance practices in Ghana and Mongolia, where, respectively, drought index insurance covers all the growing stages of maize and index-based livestock insurance protects livestock against particularly strong winters
Kenyan Experience with Parametric Insurance
On October 11, 2016, Joseph A. Owuor of The Insurance Regulatory Authority of Kenya presented a presentation entitled "Kenyan Experience with Parametric Insurance" at a workshop in Guatemala. Aimed at raising awareness on parametric insurance among supervisory authorities in Latin America and the Caribbean , t he First Regional Workshop on Parametric Insurance was put together by Microinsurance Catastrophe Risk Organisation (Micro) and participated by many stakeholders such as Access to Insurance Initiative, the International Research Institute for Climate and Society (Columbia University)
The World Food Prize Recognizes a World Bank Group's Grantee
Dr. Andrew Mude of the International Livestock Research Institute in Nairobi, Kenya, has been named the recipient of this year’s Norman Borlaug Award for his work in providing insurance to livestock herders in East Africa’s drylands through innovative, state-of-the art technologies. On October 12, 2016, Dr. Mude, a World Bank Group's grantee, was formally presented with US$10,000 and the “Norman Borlaug Award for Field Research and Application, endowed by the Rockefeller Foundation”, in Des Moines, Iowa, as part of the 2016 World Food Prize international symposium. The award was given in