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IFC session panel participants
26
Oct
The Asosiasi Asuransi Umum Indonesia, the General Insurance Association of Indonesia, brought together regulators, practitioners, local and international (re)insurance companies at the 26th Indonesia Rendezvous conference held in Indonesia between 12-15 October. The theme of this year's gathering ‘Toward Sustainable Future and Inclusive Growth’ is in line with the main theme of G20 Presidency of Indonesia ‘Recover Together, Recover Stronger.’ The G20 Presidency theme is a reflection of the pressure the world has been under due to the COVID-19 pandemic, and it emphasizes the importance of...
Fay Fay Choo
11
Dec
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...
24
Nov
On 24th November 2021 , a virtual knowledge sharing session on Weather Index Insurance took place. This was jointly organized by the Pensions and Insurance Authority (PIA – the Zambian insurance regulator) and the International Finance Corporation (IFC), and targeted Zambian insurers who are currently exploring the expansion of this product line in Zambia for the benefit of smallholder farmers. Zambia currently has one of the largest index insurance schemes on the African continent, covering 1 million farmers on average each year. IFC has been involved in the development of this market since...
Stellapps Image
How does Stellapps use technology to improve the livelihoods of smallholder dairy farmers? Stellapps is a farm to consumer dairy digitization service provider, improving productivity, quality and ensuring end-to-end traceability across the dairy supply chain. It leverages advanced analytics and artificial intelligence through its full-stack IoT platform to enable dairy ecosystem partnerships with financial & insurance institutions, veterinary services, cattle nutrition providers etc. to drive significant value for smallholder farmers and all stakeholders in the dairy value chain. Through...

IFA: Empowering Smallholder Farmers Through Affordable Technology and Knowledge

IFA is an agriculture technology (AgTech) company based in Nepal, providing localized agriculture extension services enabled by Information Communications Technology (ICT). Its mission is to scale digital solutions for the agricultural last mile and improve smallholder’s financial inclusion, livelihood and climate resilience. IFA was awarded under the Sales & Distribution Category in the GIIF Agriculture Insurtech Challenge 2019. Watch the video here.
25
Jan
Agriculture Technologies (AgTechs) have demonstrated positive impact on improving the development of agriculture sector specially during the COVID-19 pandemic. By disrupting traditional supply chain, agtechs help to improve efficiency, reduce input cost, and increase farmers’ income by raising farm gate price, etc. Adopting and scaling up AgTechs can unleash the potential of the improvement in agriculture sector, which is of great significance to countries with high proportion of employment in this industry . India has 41.49% of its workforce employed in agriculture industry ( ILO 2020 )...

Aquaconnect: Empowering Farmers and Improving Farm Productivity Through Technology Intervention

Aquaconnect is a technology venture that promotes sustainability through data-driven farm advisory and marketplace solutions for Aqua Farmers. Its AI-powered mobile application transforms real-time data collected from the farms into impactful insights. They provide end-to-end services like farm management assistance, on-ground support, formal finance, access to market leveraging players on the value chain. Aquaconnect was awarded under the Premiums & Claims category in the GIIF Agriculture Insurtech Challenge 2019. Watch the interview video here .

Gomvira song: A Bangladesh Surokkha project

Agriculture is a source of employment for nearly 50% of adult population in Bangladesh contributing to 13% of GDP in 2019. The country is highly exposed to climate change risks: cyclones, floods, droughts and saltwater inundation due to tidal surges. Notably, the 2007 Cyclone Sidr caused $18 million loss in livestock and over $415 million in crop production . Farmers in Tangail suffered millions of losses from Gopalganj flood this year. According to a WBG study , high water stress due to rising temperatures will affect the yield of Aman and Boro rice, the country’s two major staple crops,...

Mooofarm: Mobile Application for Improving the Lives and Livelihoods of Dairy Farmers

MoooFarm is an award-winning start-up building a connected commerce platform to lift India’s 100 million dairy farmers out of poverty and ensure nutritious milk for over a billion people. Through its mobile application farmers can connect with qualified veterinarians, buy & sell cattle, order farm inputs, access financial services, manage their farm & cattle and engage with subject matter experts to make dairy profitable. MoooFarm was awarded under the Data & Analytics category in the GIIF Agriculture Insurtech Challenge 2019. Watch the interivew video here.

GramCover: Exploring and Refining Blockchain Application in Insurance to Better Serve Farmers.

GIIF organized an agriculture Insuretech innovation challenge /competition as a part of an Insuretech fair, hosted in Mumbai, India in July 2019. Through this innovation fair, the GIIF aims at improving the understanding of Insuretech, supporting the integration of different technology solutions with agriculture insurance, and applying innovation with actual programs on the ground. The Awards recognized some of South and South-East Asia and Pacific's most promising entrepreneurs who are using technology to address challenges in providing agricultural insurance to farmers. The awards were...
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