In light of the Cop27 summit, new challenges have unfolded before the world economies. But the question remains, are we prepared for the impacts of climate change? In partnership with the World Food Programme and other local insurers, IBISA is designing a forecast insurance index that can be used by government agencies to release funds in advance to affected areas.

Thus, mobilizing farmers or take necessary actions to minimize the loss via advance measures instead of money spent on post-damage control measures..

To cope with the ever-increasing climatic risks and to preserve vital income for pastoralists, IBISA has joined forces with CNAAS and RBM, with the support of ADA, to set up tailor-made parametric insurance in Senegal.

By deploying this pastoral insurance to pastoralists in Senegal, the long-term objective is to establish and secure the insurance product value chain between IBISA (product designer and platform), RBM (in charge of distribution), CNAAS (the policyholder), and the reinsurer. After a successful first pilot project, the project in its second version has just been launched.

Coming soon

This is the first IBISA project for breeders and pastoralist where we developed with local partners solutions to cover a particular moment of the year, called “soudure”, when animals can suffer from lack of vegetation and biomass to wait until the next rain season.

In this case, breeders could need to get rid of some animals or pastoralist to move longer and further during the “transhumance” period. This longest and more remote move to pasture creates tension with local populations. Thus, covering them is reducing climate conflict risks.

For Food, Beverage and Ingredient companies, we realized an analysis on the relation between tropical crops, weather condition and satellite data, in order to anticipate months in advance a potential supply tension with simple, actionable, and measurable metrics.

Given the diverse geo-climatic conditions of India, a one-size-fits-all strategy will not work! We strive to provide climate insurance solutions with flexible boarding dates and coverage duration options for lack of rainfall, excess rainfall, and vegetation index.

We equip small holder farmers with these insights in the southern states of India at a micro-level.

Similar to Madagascar analysis, we studied the correlation between tropical crops, weather condition and satellite data.

This lead to risk assessment of the supply of those resources according to risk concentration / diversification criteria. Meaning, what are the main perils for those crops, how are they geographically distributed and correlated, and ultimately how to better diversify supply regarding weather and climate risks.

The frequency and intensity of droughts, extreme rainfall events, is affecting pasture growth, livestock health and their productivity.

IBISA has studied the effects of excess wind speed in one of the regions of New Zealand and is working to develop excess rainfall solutions for the other parts of New Zealand.

The insurance cover then designed could either be used for a dry run or could be actually implemented on the beneficiaries of the cover.