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Agriculture Insuretech Innovation Challenge and Forum

Mon, 03/25/2019
Topics: 
General
Product design
Other
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...
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29
Oct

Conversation with the Specialist: Punjab Agriculture and Rural Transformation Program

by
Pavis Devahasadin
in
GeneralProduct designWeather index
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...
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Unlocking Smallholder Credit: Does Credit-Linked Agricultural Insurance Work?

Content owner: 
Global Index Insurance Facility | Impact Insurance Facility
Author: 
Peter Hazell, Richard Meyer, and Panos Varangis
Language: 
English
Topics: 
Product design
GIIF and ILO's Impact Insurance Facility jointly published a paper entitled "Unlocking Smallholder Credit: Does Credit-Linked Agricultural Insurance Work?" Authored by Independent Researchers Richard Meyer and Peter Hazell and World Bank Group's Panos Varangis, this paper reviews possibilities for, and experience with, credit-linked crop insurance, including different types of insurance and credit arrangements, ranging from insurance sold to individual farmers to meso insurance sold to financial service providers (FSPs) to cover losses suffered by farmer borrowers.
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Index Insurance in Ukraine: Opening Doors for Agribusiness

Content owner: 
IFC
Author: 
Olena Hlyvynska and Andriy Zaripov
Language: 
English
Topics: 
General
Product design
Weather index
Agri-insurance is a financial product that protects farmers from potential losses resulting from weather events or disease. By enabling farmers to protect their businesses, agricultural insurance also reduces lending risks, which increases the amount of credit available in this vital sector. In Ukraine, IFC and Syngenta worked together to pilot-test index insurance — which bases claims on independently verifiable weather data — for wheat and corn. This SmartLesson explores the possibility of developing index insurance as a new and important financial instrument that helps farmers and...
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GIIF Book Launch: Opening Remarks and Discussion (Full Video)

GIIF Book Launch: Opening Remarks and Discussion (Full Video)

Content owner: 
Global Index Insurance Facility
Topics: 
Product design
On June 29, 2017, Finance & Market's Global Index Insurance Facility of the World Bank Group had an official book launch of Risk Modeling for Appraising Named Peril Index Insurance Products. The groundbreaking publication on modeling index insurance products is a practical guide for the insurance practitioners to design and develop better index insurance in order to ultimately provide protection to more low-income customers, including smallholder farmers in developing countries. The session, moderated by Samuel Munzele Maimbo, Practice Manager in WBG's Finance & Markets, had the...
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GIIF Book Launch: Presentation and Reactions

GIIF Book Launch: Presentation and Reactions

Content owner: 
Global Index Insurance Facility
Topics: 
Product design
On June 29, 2017, Finance & Market's Global Index Insurance Facility of the World Bank Group had an official book launch of Risk Modeling for Appraising Named Peril Index Insurance Products. The groundbreaking publication on modeling index insurance products is a practical guide for the insurance practitioners to design and develop better index insurance in order to ultimately provide protection to more low-income customers, including smallholder farmers in developing countries. In this video, authors Mr. Shadreck Mapfumo, Senior Financial Specialist in the World Bank Group, and Dr...
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"Fundamentals of Named Peril Index Insurance Risk Transfer Process" Workshop in Asia

Content owner: 
Global Index Insurance Facility
Author: 
Pavis Devahasadin
Language: 
English
Topics: 
General
Product design
More than 30 participants across Asia gathered in May 2017 in Jakarta to attend a regional workshop focusing on index insurance fundamentals and to discuss best practices in the development of the innovative financial product. The week-long workshop entitled “Fundamentals of Named Peril Index Insurance Risk Transfer Process” was sponsored by the Global Index Insurance Facility (GIIF) as part of its capacity building activities aimed at the development and enhancement of index insurance products in developing countries. Managed by the World Bank Group’s Finance & Markets Global Practice,...
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“The Risk Modelling and Strategic Decision Making for Index Insurance” Technical Workshop

Content owner: 
Global Index Insurance Facility
Author: 
Pavis Devahasadin and Tenin Fatimata Dicko
Language: 
English
Topics: 
Data
Product design
More than 50 participants from 13 African nations gathered in Accra, Ghana, from May 1-5, 2017 to attend a regional workshop focusing on the fundamentals of risk modeling for index insurance and to discuss a wide array of agricultural insurance topics. “ The Risk Modelling and Strategic Decision Making for Index Insurance” workshop was organized by the Global Index Insurance Facility (GIIF), in collaboration with African Reinsurance Corporation. Managed by the World Bank Group’s Finance & Markets Global Practice, GIIF provides smallholder farmers, pastoralists, microentrepreneurs, and...
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IFC, MAIPARK to Develop Index-Based Insurance Schemes to Mitigate Weather Risks for Local Farmers

Wed, 05/10/2017
Topics: 
General
Product design
Country: 
Indonesia
The International Finance Corporation (IFC) and specialist reinsurance company Reasuransi MAIPARK Indonesia have agreed to develop insurance products to help local farmers mitigate weather-related risks, Jakarta Globe reports . The agreement will establish insurance schemes that pay out benefits to farmers if a weather event exceeds levels in a predetermined index — which will measure rainfall levels, temperatures, wind speeds and crop yields, expected to provide cheaper and less complicated insurance benefits to farmers in the event of a natural disaster. "The region's changing climate has...
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8
Jun

GIIF at European Development Days 2017

Topics: 
Public/Legal frameworks
Product design
Year: 
2017
As part of this year's European Development Days (EDD 2017), GIIF hosts a session entitled "Index Insurance: An Innovative Tool for Risk Management and Resilience Building" on June 8, 2017, at Tour & Taxis in Brussels. The 75-minute session, under the event's theme of "Partnering with the Private Sector, explores how building stronger and sustainable public-private partnerships can create market solutions that champion climate change adaptation. Moderated by GIIF Program Manager Fatou Assah, the panel will be joined by: Ken Aghoghovbia , Deputy Managing Director/Chief Operating Officer -...
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