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The first part of the webinar session was a launch of the joint Geneva Association and Insurance Development Forum (iDF) paper titled " Insurance development in Emerging Markets: The role of public policy and regulation " introduced by Dennis Noordhoek (Director of Public Policy & Regulation at the Geneva Association). On the objectives of the paper Mr. Dennis Noordhoek began by noting that over the past ten years, the economies of many emerging markets have grown significantly, and during those periods insurance market in these countries has also experienced growth. Despite this growth,...
Well-designed insurance programs can help to improve farmers’ resilience, access to finance, and high-quality inputs. To this end, IFC and Zimbabwe's insurance regulator, the Insurance and Pensions Commission (IPEC), issued a press release highlighting their collaboration to create a market for agricultural insurance products in Zimbabwe. The goal is to protect smallholder farmers against weather-related crop damage and other shocks. Through this project, the team will assess the risks faced by smallholder farmers, and their coping mechanisms, and also evaluate the farmers' appetite for...
In August 2020, the GIIF team commissioned a study by the Wageningen University and Research (WuR) to generate lessons learned in perception, adoption, and understanding of agriculture index insurance by firms and smallholders in Kenya, Senegal, and Zambia. The study was recently concluded. A review of the portfolios and experiences among three companies – ACRE Africa (Kenya), Compagnie Nationale d’Assurance Agricole du Sénégal ( CNAAS ), and Mayfair Zambia – reveals successes, opportunities and challenges yet to be overcome in mainstream agriculture index insurance (AII) among farmers across...
On May 18, colleagues from the Gender Innovation Lab at the World Bank hosted a webinar titled "Let her Grow: Addressing the productivity gap in agriculture—Barriers and promising interventions." The webinar presented the findings from three studies on productivity gaps between women and men farmers in Timor-Leste, Democratic Republic of Congo (DRC), and Côte d’Ivoire. These studies presented new evidence on the most binding constraints faced by women farmers, and effective interventions to address these constraints. Each of the studies examined different aspects of this issue and presented...
Against the backdrop of a green and resilient recovery from the COVID-19 pandemic, the world’s attention is centered on closing the protection gap. Closing the protection gap will enable a swifter post-disaster recovery and ensure business continuity for the most vulnerable. The Global Index Insurance Facility (GIIF) team caught up with Pedro Pinheiro and Nick Moody of the Insurance Development Forum (IDF) for their reflections on closing the protection gap by insuring the missing middle. Pedro Pinheiro is the coordinator of the Inclusive Insurance Working Group, while Nick Moody coordinates...
Agrotech+ from Kenya scoops third place in the AgTech and Inclusive Insurance challenge 2022
Nairobi, Kenya, March 8, 2022 – The Global Index Insurance Facility (GIIF), launched a competition for technology-led enterprises in Africa to offer innovative solutions for agriculture and inclusive insurance and announced 3 top winners: Omishtu-Joy (Ethiopia), Rural Farmers Hub (Nigeria), and AgroTech+ (Kenya). Powered by Sankalp Forum , the Africa AgTech & Inclusive Insurance Challenge aimed to celebrate and support young entrepreneurs who are working at the intersection of agriculture, insurance, climate, and gender to build resilience for rural populations. The Challenge offered an...
Under a scenario with 1.5°C of warming above preindustrial levels by 2030, almost half of the world’s population—approximately 5.0 billion people—could be exposed to a climate hazard related to heat stress, drought, flood, or water stress in the next decade. Today, this figure is 3.3 billion people. There is thus an urgent need to focus on boosting resilience in both cities and rural areas. During the just-ended COP26, the World bank Group turned the spotlight on its Climate Change Action Plan 2021-25 which prioritizes a green, resilient and inclusive development (GRID) approach for...
Background: During the just-concluded COP26, Africa Risk Capacity (ARC) Group showcased its lessons learnt in implementing continent-wide climate risk resilience initiatives for millions of Africans through dynamic partnerships. ARC Group also received new funding for scaling its reach and impact to safeguard livelihoods for the most vulnerable at the frontlines of climate change-mediated hazards. The Global Index Insurance (GIIF) team caught up with the ARC Limited CEO, Mr. Lesley Ndlovu to reflect on key milestones in 2021 and the main takeaways from COP26. GIIF: ARC Group focusses on...
Fay Fay Choo
Despite the importance of the agricultural activities to the Indonesian economy ([13%] of GDP), livelihoods ([34%] of labor force), food security, and poverty reduction, the multiple risks associated with agricultural production – coupled with the general lack of knowledge and outreach to farmers/agriculture sector by financial institutions – have limited the needed levels of investment flows into the sector. Agri-lending in Indonesia accounts for a small portion of total lending, at [5.8%]. The risks aversion towards lending to farmers are well documented, including price fluctuations and...
Martin Kipping: Head of Climate Policy Division at the BMZ
Martin Kipping, Head of the Climate Policy Division at the German Federal Ministry for Economic Cooperation and Development (BMZ) shares his views with GIIF on COP26 and Germany’s commitment to strengthening the resilience of poor and vulnerable people through climate and disaster risk finance and insurance solutions. The BMZ has committed some 800 million euros for the InsuResilience Global Partnership and its precursor, the G7 InsuResilience Initiative, since 2015. This year, GIIF received an additional 10 million euros from Germany for the Africa Inclusive Insurance Program. What are your...