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INSURED - Insurance for rural resilience and economic development
INSURED is a technical assistance programme working to strengthen agricultural insurance in IFAD’s portfolio.
Filling in the blanks: How to address data gaps to develop better livestock insurance for smallholder farmers
Gathering good data can reduce the cost of livestock insurance for smallholder farmers, making coverage affordable and building their resilience. The Insurance Toolkit new brief shares lessons learned in Georgia.
Engaging smallholder farmer communities to develop index-based insurance
This knowledge brief explores the benefits of and rationale for community engagement in index insurance initiatives, with examples from a pilot project in rural Ethiopia.
Understanding market demand: How to use focus group discussions in the development of inclusive insurance
Understanding market demand is a critical step in the process of developing solutions to meet the risk management needs of rural poor people, particularly with regard to insurance.
Case study: Innovations in financial inclusion, including microinsurance
Post-Tsunami Sustainable Livelihoods Programme for the Coastal Communities of Tamil Nadu, India, 2007-2020.
Making agricultural and climate risk insurance gender inclusive: How to improve access to insurance for rural women
IFAD’s technical assistance programme INSURED (Insurance for rural resilience and economic development) has been building knowledge about how to strengthen women producers’ access to climate risk insurance.
Rapid prototyping for inclusive insurance: Testing customer challenges and gaining early insights on feasibility
Prototyping aims to gather direct feedback on the solution and the wider insurance scheme, incorporate changes before pilot testing, and make any additional adjustments before the official roll-out.
The Insurance Toolkit provides technical tools and knowledge briefs to give project designers and implementers practical guidance on making agricultural and climate risk insurance work for smallholders. The Toolkit is produced by INSURED, with contributions from partners.
INSURED Uganda country update: Feasibility study on agricultural insurance for oilseed farmers
What risks and challenges do small-scale producers of oilseeds in Uganda face, and could agricultural insurance help them manage and mitigate those risks?
Examining the climate finance gap for small-scale agriculture
In a rapidly changing world, agriculture remains the heart of sustainable development. The risks facing the world in this final decade left to achieve the Sustainable Development Goals are many, but the opportunities are equally numerous.
Remote sensing for index insurance - Findings and lessons learned for smallholder agriculture
Index insurance has a role to play in agricultural development and risk management, yet it faces operational and technical challenges to reach scale and sustainability. Data are a key challenge and were the focus of the project “Improving Agricultural Risk Management in Sub-Saharan Africa: Remote Sensing for Index Insurance”. Limited availability, accessibility, quantity and poor quality of data on the ground are some of the primary technical constraints preventing scale-up and sustainability of index insurance. Without sufficient quality data, either it is impossible to design products for some areas and countries, or products that are designed can become unreliable, not compensating when they should. These inconsistencies intensify vulnerability, lead to distrust of insurance, and ultimately have an impact on demand. This publication details the project, which investigated overcoming issues with ground data by using remote sensing data for index insurance. It describes the different remote sensing options and opportunities available for index insurance, but it also recommends further investment in research and development, supplementary ground data and capacity-building going forward.
Creating pathways out of poverty in rural areas: Managing weather risk with index insurance
The International Fund for Agricultural Development (IFAD) and the World Food Programme (WFP) have joined forces to reduce the vulnerability of poor rural people to extreme weather events that can be devastating to agricultural productivity. With support from the Bill and Melinda Gates Foundation, IFAD and WFP are working to improve the access of poor rural people in developing countries to index-based weather insurance. This type of insurance can help them cope better when extreme weather hits, and can open the door to other financial services, in particular credit.
Microinsurance Product Development for Microfinance Providers
This document is intended to aid delivery channels, microfinance providers in particular, in working with insurance companies to develop successful microinsurance products for the low-income market. A systematic new-product development process is crucial to the success of microinsurance products for many reasons, including: Saving money – by maximizing the potential for product success; Saving management and staff time – by ensuring, within reason, that the product has market demand, and by working out staff and systems issues early in the process, when it is easier and cheaper to make changes; Generating goodwill in one’s market – by offering products that will not have to be withdrawn or substantially altered once they are offered throughout the market. The process outlined in this manual will help microinsurance developers create successful microinsurance products. ‘Success’ means meeting the needs of the three major parties in the microinsurance relationship: low-income policyholders, the insurer and delivery channels.
Process Mapping for Microinsurance Operations: A Toolkit for Understanding and Improving Business Processes and Client Value
This manual is intended as an aid to microinsurance institutions. It presents a technique called ‘process mapping’ that can support institutions in self-analysis by assisting them in understanding, developing and improving business processes. Although the concepts presented may be used for many types of projects and processes, this manual was specifically developed as a supplement to Microinsurance product development for microfinance providers (McCord 2012). The manual describes how a process map can be drawn, analysed and adapted for the microinsurance sector. It offers practical guidance about which processes to concentrate on, and guides the reader through the task of improving these processes, first on paper and then in practice. For more information please click on the link below.
Weather Index-based Insurance in agricultural development: a technical guide
Poor rural people in developing countries are vulnerable to a range of risks and constraints that impede their socio-economic development. Weather risk, in particular, is pervasive in agriculture.
Managing weather risk for agricultural development and disaster risk reduction
Nearly 1.4 billion people live on less than US$1.25 a day. Seventy per cent live in rural areas where they depend on agriculture, but where they are also at risk from recurrent natural disasters such as drought and flooding. Natural disasters have a devastating impact on the food security and overall social and economic development of poor rural households. According to data from Munich Re’s NatCatSERVICE, natural disasters account for losses, on average, of US$51 billion in developing countries every year. Unless well managed, weather risks in agriculture slow development and hinder poverty reduction, ultimately resulting in humanitarian crises. Poor farmers have few options for coping with significant losses, and in order to reduce their exposure to risk, they often forgo opportunities to increase their productivity.
The potential for scale and sustainability in weather index insurance for agriculture and rural livelihoods
Risk is inherent in agriculture. Farmers face a variety of market and production risks that make their incomes unstable and unpredictable from year to year.