APA Insurance in Kenya has developed an index-based product for livestock in cooperation with the International Livestock Research Institute, World Vision, and Leapfrog. The product uses a mobile platform to enroll customers and communicate policy details. In addition, farmers can make insurance payments and receive payouts via M-PESA. The service uses satellite imagery and proprietary […]
The aim of this review is to assess the impact that FSD and partners have had in catalysing the creation of a commercially viable market for Index Based Weather Insurance (IBWI) in Kenya. The review also makes recommendations about how such a market might be achieved through the existing pilots.
In May 2012, FSD Kenya commissioned Bankable Frontier Associates (BFA) to conduct a review of its index based weather insurance project. The aim of the review was to assess the impact of the project on market development and evaluate the potential for creating a well-functioning and sustainable market for index insurance. The review reveals that […]
FinAccess data shows that in 2009 only 7% of Kenyan adults used any insurance product, up only modestly from 6% in 2006. The use of conventional agricultural insurance products, like other types of insurance, is very limited in Kenya. Index-based weather insurance (IBWI) offers a powerful new way to tackle the risks associated with rain-fed […]