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Distributing Agri Micro-insurance in East Africa –Lessons Learned

Content owner: 
ACRE Africa
Author: 
Rahab Kariuki, Managing Director, ACRE Africa
Language: 
English
Topics: 
Product distribution
ACRE Africa participated in 2018 Understanding Risk Forum in Mexico City in May 2018. Organized by the World Bank’s Global Facility for Disaster Reduction and Recovery (GFDRR) and partners every two years, the event provides organizations and individuals with the opportunity to exchange knowledge, highlight new activities and initiatives, establish new partnerships, and foster innovation in the field. As part of this year’s program, the Disaster Risk Financing and Insurance Program (DRFIP) and the Global Index Insurance Facility (GIIF) – both in the WBG’s Finance, Competitiveness &...
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Index Insurance Consumer Education in Zambia

Author: 
GlIF, ILO's Impact Insurance Facility, Risk Shield Consultants, and fsdZambia
Language: 
English
Topics: 
Product distribution
PowerPoint slides from a consumer exercise undertaken in Zambia in December last year are now available. The session, held jointly by GlIF, ILO's Impact Insurance Facility, Risk Shield Consultants, and fsdZambia focused on lead farmers and channel partners who enlist smallholder farmers.
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Agriculture Insurance Training in Johannesburg

Content owner: 
Global Index Insurance Facility
Author: 
Nene Souleymane Diouf and Pavis Devahasadin
Language: 
English
Topics: 
General
Product design
Product distribution
More than 30 participants from seven African nations gathered in Johannesburg for two weeks in October 2016 to focus on the fundamentals of index insurance, and to discuss a wide array of development-related topics ranging from product design to project management. The workshop, entitled “Agriculture Insurance Training,” was organized by the World Bank Group’s Global Index Insurance Facility (GIIF). Co-managed by the International Finance Corporation (IFC), GIIF provides smallholder farmers, rural residents, microentrepreneurs and microfinance institutions with access to finance through the...
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Experiences in index-based insurance for farmers: lessons learnt from Senegal and Bangladesh

Content owner: 
Proparco's Private Sector & Development
Author: 
Chloe Dugger and Rachel Sberro
Language: 
English
Topics: 
Weather index
Product distribution
Micro-level
Meso-level
In Proparco's Private Sector & Development magazine, Chloe Dugger, Operations Officer in WBG's Finance and Markets Global Practice, and Rachel Sberro, Research Analyst on agriculture finance, write about WBG's Global Index Insurance Facility's experiences with index-based insurance in Senegal and Bangladesh. Their article focuses on micro- and meso-level approaches to distributing agricultural index insurance, which speeds up claims settlement by dispensing with loss assessments and payouts are determined on an objective basis, eliminating the risk of fraud. Please visit Proparco's...
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Agriculture Focus - Parametric Insurance Solution Against Climate Change Effects

Tue, 12/01/2015
Topics: 
General
Data
Public/Legal frameworks
Weather index
Product distribution
Mr. Tanguy Touffut of AXA Corporate Solutions discusses the benefits of parametric insurance, which he sees as a promising solution for farmers and other weather-sensitive industries against climate-change effects. It is nothing new: climate change, a phenomenon in full effect, has many drastic consequences of all types for people, companies, and entire economies alike. It has been observed that weather extremes are increasing as a consequence of climate change. In January 2015, AXA Corporate Solutions entered into a partnership with the World Bank’s Global Index Insurance Facility (GIIF)...
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Innovative Microinsurance Protects Poor Farmers Against Climate Change

Wed, 09/16/2015
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

Thu, 07/30/2015
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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16
Apr

Register Now! Webinar on Meso-level Distribution: Opportunities and Challenges

Topics: 
General
Product distribution
Meso-level
Year: 
2015
Join us for a Webinar on Thursday, 16 April 2015, 14:30 to 15:45 CEST/ 8:30 AM EST Register here The sustainability of agriculture insurance programmes relies primarily on reaching scale and controlling the costs of distribution. With this in mind, insurers are designing meso-level insurance policies that cover the entire portfolio of an aggregator. But while there are promising gains, there is still much to learn from implementing these solutions to achieve scale and efficiency. Jointly organized by the Global Index Insurance Facility and the ILO’s Impact Insurance Facility, this webinar...
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1
Apr

Can Groups help Sell Insurance?

by
This emerging insight was produced by the Impact Insurance Facility in collaboration with the Global Index Insurance Facility as part of the partnership between the World Bank Group and the ILO
in
Product distributionMeso-level
Insurers are trying to control costs and reach scale in agriculture insurance by designing meso-level insurance policies that cover large numbers of farmers associated with an aggregator (e.g. agribusiness firm, financial institution, input providers). Products are priced using a portfolio pricing model, meaning that the price is calculated on the basis of the whole group. This avoids the cost of assessing individual plots. A project in Mozambique supported by GIIF and implemented by reinsurance broker, Guy Carpenter, used a meso-level approach to cover cotton farmers through a public-private...
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Partner Profile - MicroEnsure

Content owner: 
World Bank Group
Topics: 
Weather index
Product distribution
Micro-level
Agriculture in Rwanda accounts for one-third of Rwanda’s GDP; constitutes the main economic activity for rural households (especially women) and remains the main source of income. Today, the agricultural population is estimated to be a little less than 80% of the total population. The sector meets 90% of the national food needs and generates more than 70% of the country’s export revenues. (Source: Rwanda Development Board). Much of the agricultural land is rain-fed, with little or no irrigation available. This is exacerbated by the fact that more than 68% of Rwandan land is on hillsides with...
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