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Papua New Guinea (PNG) is a lower middle income country located in the Asian-Pacific region. Agriculture is the predominant source of livelihood in the country, with the agricultural sector accounting for 67% of the total labor force and 35% of the GDP in 2010. PNG has a very high exposure to earthquake, tsunami and volcanoes as well as being affected by climatic perils including tropical cyclones and the influence of the El Nino Southern Oscillation (ENSO) cycle which brings with it extremes of drought and excess rain and flooding. The Government of PNG identifies that agriculture has and...
Smallholder farmers need finance. According to a recent report of 1,800 banks conducted by the Initiative for Smallholder Finance – “ Local Bank Financing for Smallholder Farmers: A $9 Billion Drop in the Ocean ” - local banks in developing countries are currently lending approximately $9 billion to smallholder farmers compared to a total estimated demand of $300 billion globally for smallholder finance ($450 billion if China is included) . Although smallholder farmer financing also occurs through MFIs and non- financial intermediaries like supply chain participants, cooperatives and...
Is index insurance poised for a great leap forward similar to the rapid growth experienced by microfinance and credit bureaus in the 1990s? Index insurance clearly holds a lot of promise to help unlock productivity gains and protect farmers all around the world. Index insurance is for insuring farmers, MSMEs and individuals what credit scoring was for consumer and small business lending - a huge opportunity to make financial services much more widely available at lower cost by using smart analytics and data. In this sense, index insurance may be even more promising than microcredit because...
GIIF, a member of the World Bank Group, signed two grant agreements, with a combined value of $3.9 million, with the Syngenta Foundation for Sustainable Agriculture to expand index-based insurance to small-scale farmers in Kenya, Rwanda and Tanzania. Index-based weather insurance can protect against the adverse effects of climate change and help to strengthen food security in rural communities.
The World Bank Group signed an agreement marking the $25 million contribution by the Dutch Ministry of Foreign Affairs in support of scaling up insurance markets in developing countries over the next five years, thus helping to ensure that agricultural insurance becomes a sustainable business model for smallholder farmers.


Dan Osgood, Lead Scientist – IRI, talks about using index insurance solutions to manage climate risk issues

ITV Alex

Alex Scherer, CEO of AXA Corporate Solutions – Americas, talks about the growing role of Index Insurance in managing climate risks
Latin America´s Annual Microinsurance Summit 2015 tackles exactly what is needed to create win-win distribution channel, develop new products for the segment in a more creative way, and radically change the way the market is reached through a powerful mobile strategy. Hear from companies that have a proven record of success and extensive experience in the Latin American market, including Grupo Segurador BB-Mapfre, Pleyade, AIG, Nacional Vida, Allianz and Grupo Financiero Banrural .
From 11 to 13 November 2014, the 10th International Microinsurance Conference will take place in Mexico City. Around 500 participants and experts from around the world will exchange views and discuss the challenges of microinsurance. The participants will include representatives of insurance and reinsurance companies, international organisations, NGOs and development-aid agencies as well as academics, policymakers, and supervisory regulators.
Full Publication In various forms microinsurance has been available to some low-income people in Africa for a number of years. Cooperative Insurers have serviced a market that spans the income ranges since the 1970s. In the 1980s, community-based health insurance schemes, especially in West Africa, followed the Bamako Initiative. In the mid-1990s, commercial insurers began to enter the market offering specialized microinsurance products. Informal microinsurance has been available for decades in a range of forms, from “tontines” in West Africa or “friend in need” groups in East Africa to...