General

You are here

Farmer Community Outreach: Mayfair Southern Testimonial

When farmers learned about weather insurance in the southern area, there were a lot of pests affecting their fields. Insurers were able to help provide them with pesticides to spray into their fields and control various pests that had attacked their crops. Insurance can help small scale farmers not only to mitigate drought spells when there is no proper rainfall, but also provide assistance when affected by many other factors. The job of insurers, as Niza Banda (Mayfair – Index Insurance Analyst), explains is to help farmers when things become more challenging and compensate them so they are...

Farmer Community Outreach: Mayfair North Western Testimonial

Since its inception in 2014, the focus with Mayfair Insurance in Zambia has been helping small-holder farmers mitigate risks posed by climate change. Mayfair has since insured millions of farmers and has been a farmer’s friend in securing food baskets at domestic and national levels. Weather insurance is very important in agriculture. Agriculture is a very risky business that can be affected by so many factors. Emmanuel Ndoyo (DACO-Zambezi District) states that the whole district of Zambezi is currently covered, and that there are around 2,900 insured farmers getting payouts for the first-...

Farmer Community Outreach: Mayfair Central Testimonial

Weather Index Insurance is a microinsurance product, launched by Mayfair insurance in Zambia in 2014, has been helping small-holder farmers mitigate risks posed by climate change. Derick Chanda (Chairperson – Kangomba Camp) expressed that most of the farmers in the district did not have insurance to rely on, and that whenever they faced problems or challenges with their crops, they were not sure about where to go and who to ask for help. Now that insurance companies like Mayfair have presence in their lands, they have been able to discuss the technicalities of their insurance agreements and...
On February 4, 2020, GIIF clients AXA Cameroun and ACTIVA Assurances held the first compensation ceremony for insured cotton farmers who experienced production losses during the 2019 cropping season. The event was organized together with the umbrella association of Cameroonian cotton farmers (CNPCC) and SODECOTON, the main cotton company of Cameroon. The event was sponsored by IFC, through the Global Index Insurance Facility (GIIF). The ceremony was chaired by the Governor of the Northern Region and was marked by an impressive turnout of close to a hundred participants, including staff from...

GIIF Agriculture Insuretech Forum After Film - Mumbai 2019

July 9, 2019; Mumbai (INDIA): The Global Index Insurance Facility (GIIF) and Sankalp Forum by Intellecap, announced the winners of Agriculture Insuretech Innovation Challenge at the Agri Insuretech Forum that took place at the Taj Mahal Hotel in Mumbai. GIIF invited participants from leading insurance companies, government officials from the Ministry of Agriculture, impact investors, and innovators incubators from the agriculture, technology, and insurance sectors. The platform held key panel discussions on bringing together the Agri-insuretech ecosystem stakeholders such as innovators,...
8
Jul
The potential of agriculture and insurance is greatly restricted by many challenges faced throughout the product lifecycle - from product design to client delivery to claim processing. Insuretech, at the intersection of insurance and technology, holds the potential to overcome those challenges and transform the insurance landscape. Integrating Insuretech innovations with agriculture insurance promises to enhance product design, improve sales and distribution, facilitate premium collection, and optimize servicing and claims processing. To leverage innovative solutions, the Global Index...
The potential of agriculture and insurance is greatly restricted by many challenges faced throughout the product lifecycle - from product design to client delivery to claim processing. Insuretech, at the intersection of insurance and technology, holds the potential to overcome those challenges and transform the insurance landscape. Integrating Insuretech innovations with agriculture insurance promises to enhance product design, improve sales and distribution, facilitate premium collection, and optimize servicing and claims processing. To leverage innovative solutions, the Global Index...
(C) World Bank Group
The Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL) has developed a new insurance product called NIRSAL Comprehensive Index Insurance (NCII) to mitigate the impact and losses of agricultural yields and market price risks for smallholder farmers, PM News Nigeria reports . "NIRSAL’s goal is to expand insurance products and coverage on agricultural lending across the entire value chain by growing coverage from about 0.5 million to 3.8 million primary producers,’’ said Aliyu Abdulhameed, Managing Director of NIRSAL. NCII was developed by the Corporation in...
29
Oct
Vijayasekar Kalavakonda, GIIF Senior Financial Sector Specialist, talks about current GIIF's activity in Pakistan. Could you please tell us about what the Global Index Insurance Facility is doing in Pakistan? The “ Punjab Agriculture and Rural Transformation Project " is currently under implementation after it was approved in December 2017. Led by the World Bank Group’s Agriculture Practice, the project aims at increasing the productivity of crop and livestock farmers, improving their climate resilience, and fostering agribusiness development in the Punjab Province of Pakistan. Global Index...
With each passing year, the risks of unabated climate change are mounting. Climate change will not only make it more difficult to feed the projected 10 billion people by 2050, but its impact is already being felt in the form of reduced yields and more frequent extreme weather events that affect crops and livestock. Providing risk mitigation solutions such as agriculture insurance for the farming community to be able to face the impacts of natural disasters is, therefore, significant. More than 30 participants from eleven countries from across Africa, Asia and Europe gathered in Colombo, Sri...
15