Microinsurance news

An archive of all of our news articles on the topic of microinsurance. This chronological archive includes every article on Artemis related to the weather and climate aspects of microinsurance including weather index insurance. For the latest news and full coverage visit the homepage.

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Oxfam, Aon & Etherisc automate parametric weather insurance on a blockchain

A collaboration between Oxfam in Sri Lanka, insurance and reinsurance broker Aon and insurtech blockchain solutions provider Etherisc has delivered a parametric weather insurance product that will make automated payouts to smallholder farmers.The trio, alongside local insurer Sanasa, have launched and begun enrolling farmers into a blockchain-based platform that will read the full article →

Blue Marble works with Nespresso on parametric weather insurance pilot

Blue Marble Microinsurance (Blue Marble) is working with coffee company Nespresso on a pilot program to deliver weather index insurance to smallholder coffee farmers in Colombia.The pair note that due to climate change producers of coffee are particularly exposed to weather variability and extremes, resulting in a need for risk read the full article →

World Bank’s IFC partners on Indonesian parametric climate insurance

The World Bank Group’s global development institute, International Finance Corporation (IFC), will collaborate with Indonesia’s PT Reasuransi MAIPARK to develop parametric insurance solutions for the country’s agribusinesses against the increasing threat and costs of natural disaster and climate events.The IFC and MAIPARK, a specialist risk reinsurance firm owned by all read the full article →

World Bank rep calls for supervision of index-insurance

Index-based, or parametric structured insurance solutions, while beneficial and expanding across the world, require greater supervision, according to Lead Insurance Specialist at the World Bank, Craig Thorburn.Insurance industry supervisors, policymakers and insurers from the Asia Pacific region met in Singapore at the 9th Consultative Forum in March, 2017, and debated read the full article →

World Bank, Swiss Re backed Kenya livestock index insurance pays out

An index-based livestock insurance program in Kenya, which was launched with the backing of the World Bank and with reinsurance from Swiss Re, has been triggered and will pay out $2 million to farmers hit by drought.The index insurance product utilises satellite technology to monitor and measure the state of read the full article →

World Bank & Africa Re to cap weather index-insurance loss ratios

The World Bank's Global Index Insurance Facility (GIIF) and African Reinsurance Corporation (Africa Re) have teamed up to provide a facility that will help to cap insurers loss ratios on weather index-insurance schemes in Africa.Index-insurance, or index based insurance, typically involves protecting policyholders from weather and climate impacts, using indices read the full article →

As microinsurance penetrates Africa reinsurance capacity need will grow

Parametric or weather-index insurance cover through microinsurance schemes continues to expand its reach across Africa, a trend that could result in greater demand and utilisation of reinsurance and insurance-linked securities (ILS) capacity.During 2014 total identified microinsurance written premiums across Africa increased to $756 million, from $387 million in 2011, representing read the full article →

Lloyd’s, Guy Carpenter, Met Office to establish weather index for Asia

Lloyd’s of London, the UK Met Office, and reinsurance broker Guy Carpenter are working together to establish the concept of an agriculture weather index that can be used for insurance in Southeast Asia, with a report on the initiative set to be launched in London later this year.Following a commitment read the full article →

World Bank backs index insurance scheme to assist Kenyan farmers

Farmers in Kenya are set to benefit from the launch of a new innovative, index insurance scheme which utilises advanced technology and satellite data to assist agricultural workers in the face of flooding and drought conditions.Collaboration between public and private sector entities, with the assistance of the World Bank has read the full article →

Canada joins countries contributing to climate risk insurance at COP21

Canada is the latest country to announce a new contribution to climate risk insurance initiatives, aiming to increase insurance penetration and narrow the protection gap, at the Paris COP21 climate change conference.Catherine McKenna, Canada's Minister of Environment and Climate Change, announced an investment of Can$50 million at COP21 on Saturday.The read the full article →