These weather events impact stakeholders in the entire value chain.
IBISA designs index-based insurance solutions to cater the customers that get affected by climate change or weather-related risks like:
Lack of Rainfall
Cyclone or Typhoon
Risk modelling tools and dashboards to facilitate the explanation of insurance products for awareness.
Designing a tailor-made index-based insurance product has never been this easy.
Identify the locations
and define the weather risks
We would analyze relevant weather data of the selected locations and do a preliminary definition of triggers for the weather risks.
Select the parameters of your choice
What kind of triggers would be relevant for the geography? Don’t worry if you do not know this! With our tools, we’ll demonstrate how a product would payout.
Receive the claims automatically
Once a trigger has reached or crossed the threshold value, we will analyze the satellite data and claim payout process would initiate within 10 days of the occurrence of a weather-event.
The SCALABILITY of IBISA’s solution design to newer markets has allowed us to operate in 4 different continents with different projects in Philippines, India, New Zealand, Guatemala, and West Africa.
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.
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.
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.
Typhoons hit various regions of the Philippines 16 times a year on average. With the help of our innovative tools, we have designed solutions that help (protect against/model risk of/etc. ) wind speed and rainfall that wreak havoc on crops cultivated in those regions.
We partner with local insurance providers, allowing farmers of the Philippines to receive compensation within 10 days of the calamity. This was through meso-level coverage for the different provinces.
They trust us and it is our responsibility to maintain this trust!