Bundling index insurance with other financial and non-financial services can help scale agricultural insurance. It provides incentives for farmers to purchase insurance and opportunities for other stakeholders. Index insurance has been successfully bundled with credit in places like Mali, increasing farmer investment and incomes. Insurers like ACRE bundle products with farmer groups, banks, and input suppliers. Appropriate services to bundle with include credit, seeds/fertilizers, and complementary insurance covers. Key considerations for effective bundling include pricing affordability, evaluating value for all stakeholders, and delivering bundled products that protect farmer incomes.
This webinar looked at how governments can catalyse the development of agriculture insurance markets through a variety of interventions such as the provision, administration and management of subsidies, support for developing infrastructure for effective implementation of insurance programmes, investment in collection and sharing of data and customer education. It also looked at the government's role in developing enabling regulations and using insurance as a part of their social protection and agriculture development agendas. This webinar was organized together with the WBG's Global Index Insurance Facility, the USAID & Basis/I4-supported Global Action Network for agriculture insurance.
Speakers: Lena Heron (USAID), Peter Wrede (the World Bank) and Vincent Tithinji Ngari (Government of Kenya).
The WBG's Global Index Insurance Facility, the USAID and BASIS/I4-sponsored Global Action Network (GAN) and the ILO's Impact Insurance Facility organised a webinar to look into the question "Customer education in agriculture insurance". This webinar featured resource persons both from implementing organizations and international development players. They looked into consumer education roles of different players in the insurance value chain, discussed issues arising at both micro (individual farmers) and meso (community) levels, and showcased some interventions on how consumer education is undertaken.
Speakers: Lory Camba Opem (International Finance Corporation), Brenda Wandera (International Livestock Research Institute, Kenya) and Navin Sharma (ICICI Lombard General Insurance Company, India).
An introductory presentation on microinsurances as a way to reduce poverty and vulnerabilities. Covers
1. general principles and approaches of microninsurances, including the linkage to poverty reduction and vulnerability; and
2. the value chains, actors and networks involved in making microinsurances work.
Held at a summer school on Development Policy at the University of Cologne in September 2009 (http://www.lateinamerika.uni-koeln.de/summerschool2009.html). It targets students with a general knowledge of development economics and politics (but without prior knowledge of microinsurances). In the seminar, the presentation was the frame for work sessions on microinsurance case studies (from CGAP), texts from the Microinsurance Compendium and a one-day country workshop on Colombia to which Jenny Hennig, GTZ, gave an additional input. Details on the course are available on request to martin.herrndorf@oikos-international.org.
Joseph Alaban from RIMANSI Organization for Asia and the Pacific, Inc speaks about Microfinance and Micro-insurance. (Jan 30, PACAP Community Development Forum: Microfinance Amidst the Global Financial Crisis)
This webinar looked at how governments can catalyse the development of agriculture insurance markets through a variety of interventions such as the provision, administration and management of subsidies, support for developing infrastructure for effective implementation of insurance programmes, investment in collection and sharing of data and customer education. It also looked at the government's role in developing enabling regulations and using insurance as a part of their social protection and agriculture development agendas. This webinar was organized together with the WBG's Global Index Insurance Facility, the USAID & Basis/I4-supported Global Action Network for agriculture insurance.
Speakers: Lena Heron (USAID), Peter Wrede (the World Bank) and Vincent Tithinji Ngari (Government of Kenya).
The WBG's Global Index Insurance Facility, the USAID and BASIS/I4-sponsored Global Action Network (GAN) and the ILO's Impact Insurance Facility organised a webinar to look into the question "Customer education in agriculture insurance". This webinar featured resource persons both from implementing organizations and international development players. They looked into consumer education roles of different players in the insurance value chain, discussed issues arising at both micro (individual farmers) and meso (community) levels, and showcased some interventions on how consumer education is undertaken.
Speakers: Lory Camba Opem (International Finance Corporation), Brenda Wandera (International Livestock Research Institute, Kenya) and Navin Sharma (ICICI Lombard General Insurance Company, India).
An introductory presentation on microinsurances as a way to reduce poverty and vulnerabilities. Covers
1. general principles and approaches of microninsurances, including the linkage to poverty reduction and vulnerability; and
2. the value chains, actors and networks involved in making microinsurances work.
Held at a summer school on Development Policy at the University of Cologne in September 2009 (http://www.lateinamerika.uni-koeln.de/summerschool2009.html). It targets students with a general knowledge of development economics and politics (but without prior knowledge of microinsurances). In the seminar, the presentation was the frame for work sessions on microinsurance case studies (from CGAP), texts from the Microinsurance Compendium and a one-day country workshop on Colombia to which Jenny Hennig, GTZ, gave an additional input. Details on the course are available on request to martin.herrndorf@oikos-international.org.
Joseph Alaban from RIMANSI Organization for Asia and the Pacific, Inc speaks about Microfinance and Micro-insurance. (Jan 30, PACAP Community Development Forum: Microfinance Amidst the Global Financial Crisis)
Presentation made by Annette Houtekamer (Business Development Manager, ACHMEA, Netherlands) at the 6th ICMIF Development Network Seminar (1-2 November 2012; Nairobi, Kenya)
Government run crop yield insurance scheme, procurement at minimum support prices and calamity relief funds are the major instruments being used to protect the Indian farmer from agricultural variability. However, crop insurance covers only about 10% of sown area and suffers from an adverse claims to premium. There are problems with both the design and delivery of crop insurance schemes. These problems could be overcome with rainfall insurance with a well developed rainfall measurement infrastructure. Private and public insurers are currently experimenting with rainfall insurance products. Given the current levels of yield and rainfall variability the actuarially fair premium rates are likely to be high and in many cases unattractive or unaffordable. Instead of adopting the easy and unsustainable route of large subsidies, in the long term the government should consider risk mitigation through improvements in the irrigation and water management infrastructure.
Index Insurance for Small-holder Agriculture: What We Have Learned about Impa...BASIS AMA Innovation Lab
A presentation on Index Insurance by Michael Carter, Professor in the Department of Agricultural & Resource Economics at University of California, Davis and the Director of the Feed the Future BASIS Assets & Market Access Research Program & I4 Index Insurance Innovation Initiative.
(From the AFD-FERDI Workshop, Paris on June 24, 2014)
The sustainability of agriculture insurance programmes relies primarily on reaching scale and controlling the costs of distribution. With this in mind, insurers are designing meso-level insurance policies that cover the entire portfolio of an aggregator. But while there are promising gains, there is still much to learn from implementing these solutions to achieve scale and efficiency.
Jointly organized by the Global Index Insurance Facility and the ILO’s Impact Insurance Facility, this webinar discussed opportunities and challenges in meso-level distribution. It presented diverse viewpoints on aggregate distribution and portfolio covers and the roles of various stakeholders. It highlighted experiences of scaling up and how such initiatives impact customer understanding and client value.
Presentation made by Annette Houtekamer (Business Development Manager, ACHMEA, Netherlands) at the 6th ICMIF Development Network Seminar (1-2 November 2012; Nairobi, Kenya)
Government run crop yield insurance scheme, procurement at minimum support prices and calamity relief funds are the major instruments being used to protect the Indian farmer from agricultural variability. However, crop insurance covers only about 10% of sown area and suffers from an adverse claims to premium. There are problems with both the design and delivery of crop insurance schemes. These problems could be overcome with rainfall insurance with a well developed rainfall measurement infrastructure. Private and public insurers are currently experimenting with rainfall insurance products. Given the current levels of yield and rainfall variability the actuarially fair premium rates are likely to be high and in many cases unattractive or unaffordable. Instead of adopting the easy and unsustainable route of large subsidies, in the long term the government should consider risk mitigation through improvements in the irrigation and water management infrastructure.
Index Insurance for Small-holder Agriculture: What We Have Learned about Impa...BASIS AMA Innovation Lab
A presentation on Index Insurance by Michael Carter, Professor in the Department of Agricultural & Resource Economics at University of California, Davis and the Director of the Feed the Future BASIS Assets & Market Access Research Program & I4 Index Insurance Innovation Initiative.
(From the AFD-FERDI Workshop, Paris on June 24, 2014)
The sustainability of agriculture insurance programmes relies primarily on reaching scale and controlling the costs of distribution. With this in mind, insurers are designing meso-level insurance policies that cover the entire portfolio of an aggregator. But while there are promising gains, there is still much to learn from implementing these solutions to achieve scale and efficiency.
Jointly organized by the Global Index Insurance Facility and the ILO’s Impact Insurance Facility, this webinar discussed opportunities and challenges in meso-level distribution. It presented diverse viewpoints on aggregate distribution and portfolio covers and the roles of various stakeholders. It highlighted experiences of scaling up and how such initiatives impact customer understanding and client value.
Partnerships for financing climate risk protection in Viet NamUNDP Climate
High-level inter-ministerial workshop held in Hanoi June 6-7, 2017 hosted by the Ministry of Agricultural Development (MARD) of Viet Nam and supported under the Integrating Agriculture in National Adaptation Plans (NAP-Ag) Programme. The meeting was attended by over 75 national and provincial level government officials, including MONRE, MARD, MPI and the Ministry of Finance (MOF), UN and development partners, private sector representatives including insurance companies, as well as non-governmental organisations.
Scaling up agricultural insurance – The role of financial institutions and ag...Francois Stepman
8 April 2020. Webinar. Scaling up agricultural insurance – The role of financial institutions and agribusinesses as distribution channels
MFW4A and the German Agency for International Cooperation (GIZ) hosted a webinar entitled:" Scaling up agricultural insurance – The role of financial institutions and agribusinesses as distribution channels ".
FULL TITLE:
Effective Micro-Insurance and Micro Health Insurance Programs to Reduce Vulnerability
ROOM: Tsavo B
PANEL
Chair: Mr. Richard Leftley, CEO, MicroEnsure, USA
Panelist: Mr. Yoseph Aseffa, Chief Technical Advisor, Microinsurance, International Labour Organization (ILO), Ethiopia
Panelist: Mr. Nelson Kuria, Managing Director, Co-operative Insurance Company of Kenya Limited (CIC), Kenya
Luis Huerta (Seguros Argos) and Mary Yang (Microinsurance Innovation Facility, ILO) present on the topic of Private Sector Insurers and Microinsurance in Tallinn, Estonia – May 2009.
Craig Churchill presents the main trends of microinsurance, give some example of innovations in the sector and highlight the common mistakes the different players make when starting a scheme.
The potential for generic weather products and group contractsILRI
Presentation by IFPRI and the University of Oxford at the Index insurance for agriculture in Ethiopia Workshop, Addis Ababa, Ethiopia, 9 December 2010.
Building the next generation of farmers
Supporting capacity-development of African Farmer’s Organisations through improved Policies, Technologies and Capabilities
Workshop , 6-7 November 2018, Brussels
Presentation by Ulrich Hess, Senior Advisor, GIZ, at the Scaling up agricultural adaptation through insurance conference, on the sidelines of SBSTA. https://ccafs.cgiar.org/scaling-agricultural-adaptation-through-insurance
This paper presents the unique challenges and opportunities on implementing Agriculture insurance in India. It also covers the historical details regarding the various insurance schemes implemented by the Government of India in the last few decades.
This article describes the various challenges and opportunities in implementing Agriculture insurance in India. It also details the historical insurance programs and crop insurance schemes implemented by the Government of India in the past few decades.
The Facility and the Feed the Future Innovation Lab for Assets and Market Access (AMA Innovation Lab) at UC Davis, with support from EA Consultants, organised a webinar to officially present the "3-D" Client Value Assessment tool. Merging the Facility’s PACE tool with the AMA Innovation Lab’s calculations for Minimum Quality Standards for agricultural index insurance, this tool provides a multi-dimensional understanding of the value proposition for potential or existing clients. This webinar introduced the tool, outlined its relevance and application, and provided tips for practitioners and researchers on how to use it to assess the value of their products.
Presenters: Tara Chiu (Feed the Future AMA Innovation Lab at UC Davis), Coralie Martin (EA Consultants) and Pranav Prashad (the ILO's Impact Insurance Facility). Moderator: Aparna Dalal (the ILO's Impact Insurance Facility).
* Describe the factors leading to increased dependence on agricultural insurance
* Recognize the operational risks faced by farms due to falling prices and loss of insurance
* Explain the benefits of linking Farm Management System with crop insurance
* Identify the insurance selling opportunities
Dvara KGFS came into existence as a financial institution with a goal to cater to all the basic financial needs of rural customers of India. Dvara KGFS aspired to be a one-stop solution for customers' wealth creation and risk management requirements by providing a combination of credit, savings, investments or insurance solutions. After setting up a line of credit products--group, individual and mortgaged-backed loans, Dvara KGFS planned to add savings and investment products to its portfolio. It aimed to bring about a fundamental change in the mindset of its customers; which was to move from relying on credit to fulfill their financial goal to relying on savings and creating a financial plan to achieve those goals.
Dvara KGFS developed a data-driven algorithm that would recommend customized product packages to each customer based on their specific financial goal. Dvara KGFS also added investment and insurance products to their portfolio and piloted them through an integrated investment offering named Dvara Sampoorna Sampath Plan. The new product package was piloted in October 2019 and later rolled out in a phased manner across most of its branches reaching more than 5,000 customers to date.
Presenters: Nikhil AC, Head of Liability Products at Dvara KGFS, and Sandeep Kumar, ILO Social Finance Fellow at Dvara KGFS. Moderator: Aparna Dalal (Senior Technical Officer, Impact Insurance Facility).
When one thinks about risk management and finance, one immediately thinks about insurance. Insurance can be an effective way of managing risks that could otherwise result in large losses, which low-income people cannot cope with out of their cash flow or through the informal support of friends and relatives. To be most effective, however, insurance should be part of a broader range of financial services that includes savings, credit and money transfers, which together enable the working poor to manage a variety of risks.
To test new approaches, the ILO is currently working with partners in Asia to develop integrated risk management solutions. This webinar presents the experiences of four partners who are developing savings-linked risk management solutions to help members better manage risks related to health, calamity and life.
The featured partners include: KOMIDA, a non-profit MFI in Indonesia, Oro Integrated Co Operative (OIC) and Nabunturan Integrated Co Operative (NICO), two savings and credit cooperatives in the Philippines and CLIMBS, a cooperative insurance in the Philippines. The webinar presents lessons from the product development process and results from ongoing pilots.
Population coverage: from pilot to nationwide scale-up of the “NHIS mobile re...Impact Insurance Facility
On June 4, 2019, the Facility, in partnership with AFD and with support from the Joint Learning Network for Universal Health Coverage (JLN), organized a webinar on NHIS mobile renewal and digital authentication in Ghana.
The National Health Insurance Authority (NHIA) administers Ghana’s National Health Insurance Scheme (NHIS), which was established in 2003. Up until 2018, around 10.5 million scheme members needed to renew their membership annually and in person at a NHIA District Office. This time-consuming process deterred members from renewing and resulted in lapsed coverage. Partly as a result of these low renewal rates, the Scheme’s national penetration plateaued at around 40% of the population and remained roughly static from 2014 to 2018.
In 2017, the NHIA partnered with the ILO’s Impact Insurance Facility and started a project to digitize the renewal process, allowing members the option to renew their membership digitally on their mobile phones. Secondly, the project planned to establish the related systems for membership and identity verification at healthcare providers.
The project has been a huge success; following the launch of the mobile renewal platform by Dr Mahamudu Bawumia, Vice President of the Republic of Ghana, in December 2018 the number of renewals over the mobile phone has increased exponentially. As at March 2019, more than 65% of all renewals were taking place over the mobile phone.
The webinar is aimed at a wide local and international audience interested in learning more about digitizing operational processes that can lead to greatly enhanced efficiency. These solutions are applicable in both public and private sector contexts, and help to build scale.
Panelists of this webinar were Dr. Lydia Dsane-Selby (Chief Executive, NHIA Ghana), Mariam Musah (Senior Manager, Research, Policy, Monitoring & Evaluation, NHIA Ghana) and Shilpi Nanda (Impact Insurance Fellow alumna, NHIA Ghana). This webinar was moderated by Lisa Morgan (Technical Officer (Health Actuary), ILO).
Webinar on the first actuarial analysis of Pakistan’s Sehat Sahulat Programme...Impact Insurance Facility
Since 2015, Sehat Sahulat Programme (SSP), an initiative of Pakistan’s Federal, Provincial and Regional Governments, has been working to provide financial protection to poor families against catastrophic health expenditure. Towards the end of 2018, the SSP was operating in 38 districts of Pakistan, covering over 3.2 million families. The first of its kind in the country, the Programme provides inpatient care to those living below the poverty line of US $2 per day. Since inception, the Programme has been supported by GIZ.
The webinar is aimed at those interested in learning more about what actuarial analyses is in the context of a public health programme such as SSP, why it is important and how others can apply the same thinking in their analytical work.
Presentation of "Ten years, eight trends", a plenary discussion on ten years of inclusive insurance. Organized in partnership with Cenfri and discussed at the Impact Insurance Forum and the International Microinsurance Conference 2018, held in Lusaka, Zambia, on November 6, 2018.
On May 10, 2018, the Facility, in partnership with FSDA and AFD organized a webinar on "Putting client insights into practice". Though most insurers are collecting data about and from clients, they often struggle to put that information into practice in a way that makes sense for their business. During this webinar, we shared structures, processes and tricks of the trade that help successful companies to do so.
Presenters: Angela Madriz (BIMA Latin America), Osvaldo Gimenez (BIMA Paraguay), Saurabh Sharma (Britam Kenya) and Alice Merry (the ILO's Impact Insurance Facility). Moderator: Aparna Dalal (the ILO's Impact Insurance Facility).
Webinar - Design Thinking as a strategy for innovation in Public Sector Healt...Impact Insurance Facility
The Facility and the Joint Learning Network for Universal Health Coverage organized a webinar on "Design Thinking as a strategy for innovation in Public Sector Health Schemes".
In this webinar, we showcased the successful application of Design Thinking to redesigning the renewal process for the National Health Insurance Scheme (NHIS) of Ghana.
Presenters: Dr. Lydia Dsane-Selby (NHIA Ghana), Shilpi Nanda (ILO Fellow with NHIA Ghana), David Hutchful (Design Thinking expert and co-founder of Bloom Impact) and Ashlee Tuttleman (Design Thinking expert and consultant). Moderator: Lisa Morgan (the ILO's Impact Insurance Facility).
Webinar on Providing insurance products to rural populations in West AfricaImpact Insurance Facility
On September 6, 2017, the Facility, together with its partners FSDA and AFD, organized a webinar on "Providing insurance products to rural populations in West Africa". During the webinar, we discussed the importance of knowing the profile of the rural clients in order to better adapt offers to the needs of these populations. We also reviewed the partnership and business models that are emerging to provide insurance products to rural populations and we discussed the importance of knowing the agricultural sectors.
Presenters: Edgar Aguilar (The ILO's Impact Insurance Facility and Barry Callebaut), Gildas N’Zouba (SUNU Assurances Vie Côte d’Ivoire) and Moussa Dieng (the ILO's Impact Insurance Facility and CNAAS). Moderator: Miguel Solana (the ILO's Impact Insurance Facility).
As part of the global agenda of insuring for sustainable development, the Facility and the PSI Initiative organize a webinar series with the theme, “Making inclusive insurance work”. The sixth webinar had the topic "Health insurance for the emerging consumer" and was held on 5 July 2017.
Speakers during this webinar were: Lorenzo Chan (Pioneer Group), Sanjay H. Pande (Finsall Networks) and Walter Bacareza (PhilHealth). Moderator: Lisa Morgan (ILO's Impact Insurance Facility).
The Facility, together with its partners FSDA and AFD, organized a webinar on "Making change happen within insurers".
In this webinar, we highlighted the change management activities of two partners - AXA Mansard (Nigeria) and SUNU Assurances (Cote D'Ivoire). It also outlined FSDA and ILO's change management framework and step-by-step process.
The presenters discussed activities, results and lessons that will be helpful to other organizations that wish to go through a similar change process.
Presenters: Omosolape Odeniyi (AXA Mansard), Gildas N'Zouba (SUNU Assurances) and Paul Musoke (FSDA). Moderator: Aparna Dalal (the ILO's Impact Insurance Facility).
As part of the global agenda of insuring for sustainable development, the Impact Insurance Facility (www.impactinsurance.org) and the PSI Initiative (www.unepfi.org/psi) are organizing a webinar series with the theme, “Making inclusive insurance work”. The fifth webinar had the topic "Agriculture and climate risks" and was held on 25 April 2017.
Speakers: Samson Ajibola (Leadway), Marcel Stäheli (CelsiusPro) and Manoj Yadav (RIICE/GIZ). Moderator: Miguel Solana (ILO's Impact Insurance Facility).
As part of the global agenda of insuring for sustainable development, the Impact Insurance Facility (www.impactinsurance.org) and the PSI Initiative (www.unepfi.org/psi) are organizing a webinar series with the theme, “Making inclusive insurance work”. The fourth webinar had the topic "SMEs and value chains" and was held on 16 March 2017.
Speakers: Jeremy Gray (Cenfri) and Nick Smith (AXA). Moderator: Alice Merry (ILO's Impact Insurance Facility).
The Facility, together with its partners FSDA and AFD, organized a webinar on "Improving claims management".
In this webinar we offered guidelines on how to manage claims efficiently and improve operations. Claims is the moment of truth in insurance - it is when the promise of insurance becomes a reality. For low-income households, client satisfaction hinges on receiving the insured benefit as the settled claim offers tangible evidence of the value of an insurance policy.
The webinar featured insights from two innovation partners on claims process improvements and better claims data management. Presenters: Patrick Kihuria (Britam) and Frida Mwaura (MicroEnsure). Moderator: Aparna Dalal (the ILO's Impact Insurance Facility)
As part of the global agenda of insuring for sustainable development, the Impact Insurance Facility (www.impactinsurance.org) and the PSI Initiative (www.unepfi.org/psi) are organizing a webinar series with the theme, “Making inclusive insurance work”. The third webinar had the topic "Health: telemedicine, insurance and Universal Health Coverage" and was held on 28 February 2017.
Speakers: Dr Peter Benjamin (Health Enabled), Jody Delichte (Inclusivity Solutions) and Andrew Smith (Tonic, Telenor’s m-Health service in Bangladesh). Moderator: Lisa Morgan (ILO's Impact Insurance Facility).
As part of the global agenda of insuring for sustainable development, the Impact Insurance Facility (www.impactinsurance.org) and the PSI Initiative (www.unepfi.org/psi) are organizing a six-part webinar series with the theme, “Making inclusive insurance work”. The second webinar focused on distribution and technology and was held on 9 February 2017.
Speakers: Susan Walls (South African Insurance Association), Munir Duri (Kifiya Financial Technology, Ethiopia) and MK Balachandran (HDFC Ergo General Insurance, India). Moderator: Pranav Prashad (ILO's Impact Insurance Facility).
As part of the global agenda of insuring for sustainable development, the Impact Insurance Facility (www.impactinsurance.org) and the PSI Initiative (www.unepfi.org/psi) are delighted to announce a six-part webinar series with the theme, “Making inclusive insurance work”. The first webinar focused on clients and impact metrics and was held on 9 November 2016.
Speakers: Geric Laude (CARD Pioneer Microinsurance, Philippines), Patrick Mommeja (Allianz Africa, France), Butch Bacani (UN Environment’s Principles for Sustainable Insurance Initiative, Switzerland) and Michal Matul (ILO Impact Insurance Facility (Switzerland). Moderator: Aparna Dalal (ILO's Impact Insurance Facility).
The role of governments in scaling up agriculture insurance - Implementation ...Impact Insurance Facility
This webinar followed an interesting discussion we had in February 2016 on governments as important catalysts for developing the agriculture insurance market. In this second part we continued to touch upon the variety of interventions such as provision, administration and management of subsidies, support for developing infrastructure for effective implementation of insurance programmes, investment in collection and sharing of data and consumer education. In addition, the government's role in developing enabling regulations and using insurance as a part of their social protection and agriculture development agendas was discussed by experts from the World Food Program, HDFC Ergo General Insurance and BASIS/I4.
Speakers: Tara Steinmetz (BASIS/I4), Mathieu Dubreuil (World Food Programme) and Vivek Lalan (HDFC Ergo General Insurance).
El Programa Impact Insurance de la OIT, Fasecolda (Federación de Aseguradores Colombianos) y la Superintendencia Financiera de Colombia organizaron el taller “Desarrollo del Mercado de Microseguros”, con el objetivo de reunir a los actores claves del mercado asegurador para identificar riesgos, oportunidades y definir un plan estratégico para el desarrollo de nuevos microseguros en el corto y el mediano plazo.
Abhay Bhutada Leads Poonawalla Fincorp To Record Low NPA And Unprecedented Gr...Vighnesh Shashtri
Under the leadership of Abhay Bhutada, Poonawalla Fincorp has achieved record-low Non-Performing Assets (NPA) and witnessed unprecedented growth. Bhutada's strategic vision and effective management have significantly enhanced the company's financial health, showcasing a robust performance in the financial sector. This achievement underscores the company's resilience and ability to thrive in a competitive market, setting a new benchmark for operational excellence in the industry.
when will pi network coin be available on crypto exchange.DOT TECH
There is no set date for when Pi coins will enter the market.
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how to sell pi coins in South Korea profitably.DOT TECH
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2. Elemental Economics - Mineral demand.pdfNeal Brewster
After this second you should be able to: Explain the main determinants of demand for any mineral product, and their relative importance; recognise and explain how demand for any product is likely to change with economic activity; recognise and explain the roles of technology and relative prices in influencing demand; be able to explain the differences between the rates of growth of demand for different products.
5 Tips for Creating Standard Financial ReportsEasyReports
Well-crafted financial reports serve as vital tools for decision-making and transparency within an organization. By following the undermentioned tips, you can create standardized financial reports that effectively communicate your company's financial health and performance to stakeholders.
Lecture slide titled Fraud Risk Mitigation, Webinar Lecture Delivered at the Society for West African Internal Audit Practitioners (SWAIAP) on Wednesday, November 8, 2023.
BYD SWOT Analysis and In-Depth Insights 2024.pptxmikemetalprod
Indepth analysis of the BYD 2024
BYD (Build Your Dreams) is a Chinese automaker and battery manufacturer that has snowballed over the past two decades to become a significant player in electric vehicles and global clean energy technology.
This SWOT analysis examines BYD's strengths, weaknesses, opportunities, and threats as it competes in the fast-changing automotive and energy storage industries.
Founded in 1995 and headquartered in Shenzhen, BYD started as a battery company before expanding into automobiles in the early 2000s.
Initially manufacturing gasoline-powered vehicles, BYD focused on plug-in hybrid and fully electric vehicles, leveraging its expertise in battery technology.
Today, BYD is the world’s largest electric vehicle manufacturer, delivering over 1.2 million electric cars globally. The company also produces electric buses, trucks, forklifts, and rail transit.
On the energy side, BYD is a major supplier of rechargeable batteries for cell phones, laptops, electric vehicles, and energy storage systems.
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2. Interfacing with the webinar system
2
Tell us what you think. Type
your questions/ comments
here even while the
presentation is going on.
Our presenters are shown here
This shows all current participants
Polls will also be opened
during the webinar –
participate by clicking on
your answers
3. How can index insurance be bundled
with other financial and non financial
services
3
Presenter:
Michael R. Carter
Professor and Director
BASIS Research Program
University of California, Davis
Presenter:
François-Xavier Albouy
Vice President
PlaNet Guarantee
Presenter:
David Muigai
Actuarial Officer
ACRE
Presenter:
Shadreck Mapfumo
Senior Financial Specialist
World Bank Group
Moderator:
Pranav Prashad
Impact Insurance Facility
3
5. Global perspectives
‒ With credit
‒ With complementary services
‒ With farm inputs
‒ Incentive for purchase
‒ Loyalty benefit
‒ Value added services to the insured
What is “bundling”
5
6. Bundling Insurance with Credit to
Crowd-in Farmer Investment
6
Michael Carter
I4 Index Insurance Innovation Initiative
University of California, Davis, USA
7. Logic of bundling
7
By itself, agricultural insurance offers reduction in income
variability in return for some reduction in average income
(unless insurance is subsidized)
While risk averse farmers will in principal make this trade-
off, it is a pernicious one for low income households
Problem made worse by insurance index where there is
some probability that the contract will fail
One solution to this trade-off is to link insurance with the
expansion of economic opportunity
See in a moment that an interlinked credit-insurance
contract in Mali led to a reduction in income variability
AND a 25% increase in area planted & investment in
cotton
8. How & Where Bundling Can Work
8
A “bundled” contract with credit can be treated as one in
which the creditor has first claim on insurance pay-outs to
cover farmers’ debt obligations
Such bundling makes most sense in environments where
loans are under-collateralized
When loans are under-collateralized, lender bears
drought and other risk
Often the case in value chain finance where a standing
crop partially collateralizes the loan
9. How & Where bundling Can Work
9
In low collateral environments, standalone insurance contracts will have
minimal impact on investment profitable activities
Requiring standalone insurance will actually reduce investment!
Interlinked insurance interlinked crowd in investment
Importantly, this assumes that the loan market is competitive and that the
lender reduces interest rates on interlinked loans
Note also that even interlinked insurance will have zero impacts in certain
risk environments
10. Positive Impact!
10
For the 2011-12 crop year, a dual trigger area yield interlinked
contract (with very low failure probability) was offered to
Village-based cotton cooperatives
Farmers enjoyed ready access to credit via monopsonistic
value chain (CMDT)
They also faced substantial risk, which they traditionally
managed by restricting area planted in cotton
Results of a randomized controlled trial revealed that insured
farmers expanded borrowing, input purchase and expected
output and income by about one third!
11. Impact Results (LATE Estimates) from
Mali
11
Area Planted
(hectares)
Cotton
Production
(kg)
Borrowing
(‘000 CFA)
Fertilizer
Expenditure
(‘000 CFA)
Area in
Other
Crops
(hectare)
Impact on
Insured
1.68* 755 156 86* -0.5
Mean of
Control
Group
2.5 2534 294 123 4.1
* statistically significant
12. It Can Work, but …
12
These ex-ante behavioural impacts require that farmers
know they are insured and will receive some protection
A danger of mandatory insurance is that these conditions
will not be met
Same problem with pure portfolio insurance for the
lender
Need to think hard about our development objectives as
we design contacts
A similar, but earlier contract with small-scale cotton
farmers in Peru met with more modest uptake
13. NAIS and WBCIS mandatory schemes bundled
with agriculture loans from banks for listed crops
Helped in scaling index insurance to over 25
million farmers
Private sector initiative “mainstreamed” with
govt. support
Other credit linked examples: India
growth story
13
14. Bundling Index Insurance With Other
Financial and Non-Financial Services
14
David Muigai
Actuarial Officer
ACRE
15. ACRE Africa in the Insurance Value Chain
15
Acre Africa is a pioneer in
developing index insurance
for agriculture in East Africa,
with over 5 years of
experience in providing
innovative index insurance
solutions to farmer
aggregators in three
countries.
16. How it works
16
Financial Services
Banks
MFIs
SACCOs
Non Financial Services
Farmer Groups
Seed Companies
Agrochemical companies
Social enterprises
ROLE OF ACRE:
Link in the entire value chain
Product design & implementation
Leverage on existing farmers
Leverage on existing distribution
Technological implementation
ROLE OF AGGREGATORS:
Advancing insurance linked credit
Advancing insurance linked inputs
Insured on behalf of farmers
Farmer education
17. How it works
17
CHALLENGES
Cost to farmer Financial literacy
Admin. costs Basis risk
Weather data Retention
Triggers and design
OPPORTUNITIES
New geographies
Alternative indices
Product bundling
IMPACT
Lower Premiums
Increased loan uptake
Quality inputs
Basis Risk Management
18. Mobile Phone Aide
18
Get farm location from SMS
and monitor satellite imagery
for that location
Insurance in
the bag
Germination fails after 21
days without rain
Compensation
sent to Farmer via
M-Pesa
Farmer can replant and
harvest the same season
SMS unique
code to
short code
Opens bag on
planting, finds
card inside
→ → →
↓
←←
22. Bundled products – PlaNet Guarantee
22
In OECD countries,
insurance bundled
products are designed
to:
‒ Minimize
distribution costs
‒ Increase customer
retention
‒ Optimize distribution
channels
In emerging countries
bundled products have
different aims:
‒ Protect income of
vulnerable
populations
‒ Optimize contact
with clients
23. Bundled products – PlaNet Guarantee
23
Income of rural
populations are
sensitive to:
‒ Climate conditions:
• Yield
• Crop prices
‒ Exchange Rates
‒ Health situation of
the households and
in the community
Bundled Index insurance
may cope with all these
issues:
Index crop insurance is
already protecting rural
housholds against
climatic related events
Derivative products
should in the future
protect rural population
against global climatic
events
Purchasing power in
healthcare is sensitive
to income
24. Global climate index
24
Price of production may
vary rapidly due to
climate conditions in
other regions:
‒ Price of rice
‒ Price of maize
‒ Price of coffee
Often the medium term
trend is positive (coffee,
cocoa…) even if yearly
volatility is high
A matrix of covariance
might provide a
modelization of
variations in price
Financial products
should be designed to
protect households
Already future prices
and derivative products
effectively protect the
agro-industry operators
25. High volatility in prices
25
*source: de Nicola, Francesca et al. « Co-Movement of Major Commodity Price Returns » Finance and Private Sector
Development Unit, The World Bank
26. Health and climate
26
In practice, healthcare expenses are linked
with income in crop
Protecting health insurance schemes with
basic index products might be feasible
27. Orange Money Epargne or ‘’SINI TÔNO’’ bundles a saving
contract with a death and disability insurance + health
insurance focused on severe pregnancy risks.
SINI TÔNO: “Profits tomorrow!”
27
28. Healthcare insurance designed to vulnerable population,
especially in rural areas:
‒ A network of healthcare providers from the GP’s to
hospitalization has been contracted.
‒ Selling period is linked with the harvest period i.e. fits with
the new rhythm of underwriting cycle of crop index
insurance by PG in Western Africa…
‒ 80% of what people are effectively paying (capped at XOF
1,000,000)
‒ outpatients, medical imaging, surgery, hospitalisations,
drugs, ambulance costs…
Premium: XOF 60,000/ y (2 adults+ 2 children)
Healthcare in rural areas:
28
29. Planet Guarantee creates products for aggregators to increase
their profitability
Banks , Investors and MFIs
‒ To lend more to customers, the entire portfolio being covered
against climatic risks
‒ To reduce credit recovery costs and default risks
CMS (Sénégal) , BIM, BOA (maize, sesame Mali), Ecobank (Burkina
for cotton), Oikocredit (Ivory Coast), Fondation Grameen Credit
Agricole (Mali)
Inputs suppliers and agri-business:
‒ Customers fidelization
OLAM (cattle, health and crop insurance in Ivory Coast)
Aggregator approach
29
30. SANASA insurance Co. in Sri Lanka offers Weather Based
index insurance bundles Personal accident and
hospitalisation covers
Helped customers’ understanding of insurance
India & Zambia: Weather forecasts and agriculture
advisory services provided to insured farmers
Bundling multiple insurance covers and
other services
30
31. Bundling Index Insurance With Other
Services
31
Shadreck Mapfumo
Senior Financial Specialist
World Bank Group
32. Successful Examples of Bundling
Insurance With other services
32
Third Party Car Insurance / Annual Road Licence
Property Insurance / Mortgage loan
Credit Life / SME loans
Funeral/Life Insurance / Airtime
33. Key Drivers Of Successful Bundling For
Index Insurance
33
Target Market Key Drivers
Agribusinesses Increased customer loyalty/preventing side-selling
End users Increased net income/wealth
Financial Institution Improved Risk Metrics
34. Practical Considerations
34
Premium level –Index Insurance premiums much higher than
traditional
Cost of bundling
Source of premium financing
Pitching to the client : Health balance between qualitative and
quantitative content.
₋ Client Risk Tolerance = Maximum NPL =4%
₋ 10 year Historical NPL data for 8 geographical areas
₋ 10 year historical payouts for 8 geographical areas.
36. With loans and credit
With seeds and fertilizers
Providing complementary value added services
With other insurance covers
Poll: Which is the most appropriate
service with which agriculture insurance
can be bundled
36
37. Pricing is key, especially when insurance bundled with
already expensive agricultural credit
Evaluating value proposition for each key stakeholder in
the bundling process is critical for a long term sustainable
bundling process
Affordability is a critical element when designing bundled
products
Delivering index insurance as a bundled product to
farmers is one of the key strategies to scale up
Concluding thoughts
37
38. Bundling agriculture index insurance
with financial and non financial services
38
Presenter:
Michael R. Carter
Professor and Director BASIS Research
Program
University of California
Presenter:
François-Xavier Albouy
Vice President
PlaNet Guarantee
Presenter:
David Muigai
Actuarial Officer
ACRE
Presenter:
Shadreck Mapfumo
Senior Financial Specialist
World Bank Group
Moderator:
Pranav Prashad
Impact Insurance Facility
38
Editor's Notes
To familiarize everyone with the webinar system we’re using, let me introduce you to the features that we are going to use to engage our attendees. Aside from the presentation, you should be seeing in your screen panels that looks like this. * Click on the close buttons to hide these panels and reopen them by click on the icons above. You have also noticed that our audience by default are muted, and this is in order for us to manage the noise and confusion * But if you have questions or comments, you can tell us about it by typing in this chat box throughout the presentation. Please make sure that it’s addressed to the host so it will be easier for us to track them collectively. And do indicate your organization so we can mention it in the Q&A. We’ll consolidate all your messages and address them during the Q&A. And lastly, we’ll have polls during this webinar * and you will be asked of your opinion. To participate, simply click on your response, and we’ll share the results.
Main messages – No slide
MC to hand back to PP after discussing this slide, without moving on to the next slide. PP to continue with the Indian example on the next slide