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Agricultural Insurance Solutions

In August 2019, SFSA launched its "Resilience Engine" insurance systems tool. Read more here

September 2018, SFSA through its Agricultural Insurance team convened a conference entitled "New routes to smallholder prosperity; Unlocking the potential of farm insurance and finance".

Earlier in the year, SFSA had commissioned the Initiative for Smallholder Finance (ISF) to review agriculture microinsurance for smallholders. The findings of this global landscape study formed the basis for the speeches and panel discussions. The conference brought together well over 100 representatives of the development sector, insurance and reinsurance, regulatory and policy bodies, academia and the private sector. They gathered in Basel, Switzerland, to examine gaps and challenges in risk management, and to explore new ideas and partnerships.

DOWNLOAD THE SFSA CONFERENCE FULL REPORT

 

Video

Watch highlights from the conference 


Interviewees:

  • Nasser B. Al-Kahtani, AGFUND, Executive Director, Arab Gulf Programme for Development (AGFUND)
  • Fatou Assah, Program Manager, World Bank Group
  • Roberto Akyuwen, Senior Executive Analyst, OJK
  • Tanvir Rahman Dhaly, Head of Business Development, Microfinance, BRAC
  • Tony Kalm, President, One Acre Fund
  • Reto Schnarwiler, Regional Leader EMEA Global Partnerships, Swiss Re

 

DOWNLOAD THE ISF REPORT: Protecting growing prosperity: Agricultural insurance in the developing world

 

Helping farmers grow confidently

Agricultural production and food security have made impressive progress in South and South-East Asia over recent decades. The improvements have played a key role in fueling economic growth. However, erratic weather threatens farmers’ livelihoods, as do pest and disease.  Poor harvests can prevent farmers from repaying their loans. They are then naturally unwilling to access credit or use modern inputs in the next season. Yields and income therefore typically fall again. 

Agricultural insurance cuts through this vicious cycle. It relieves smallholders of some of their risk, and by providing a safety net, encourages them to invest in future harvests. 

The Syngenta Foundation and agricultural insurance

The Syngenta Foundation for Sustainable Agriculture (SFSA) has been working on agricultural insurance since 2009*. We started by developing innovative and affordable insurance tailored to smallholders in East Africa. In 2014, we created an independent social enterprise (ACRE Africa) with operations in three countries, over 1.3 million farmers insured and an innovative range of micro-insurance products so far. 

SFSA’s Agricultural Insurance Solutions (AIS) Team is now using its experience to bring smart risk mitigation strategies to farmers in Asia. With tailored micro-insurance products, farmers can confidently invest in quality inputs, get access to credit and increase their productivity.

The AIS Team operates as an insurance intermediary. We are not an insurance company, but work with local insurers and other stakeholders. We monitor and assess risk, and develop insurance products specifically for smallholders. These products typically cover a variety of crops against weather risks like drought, storms, flood and erratic rains. Other examples include yield cover. 

Broad experience and a unique combination

SFSA’s AIS Team has a wide range of experience. Our areas of expertise include Reinsurance, Actuarial, Underwriting, Product and Business Development, Country-Specific Knowledge, Agronomy and Agriculture, Insurance Training and Capacity Building, Public and Private Sector Resource Mobilization. 

We offer a range of services such as technical product design, stakeholder coordination and business development. That combination is usually unique in agricultural insurance value chains. SFSA’s AIS Team helps build the capacity of local insurance companies to add index products to their portfolios. We partner with nearby agricultural organizations to tailor and implement the best-suited products.

 

*SFSA’s Kilimo Salama insurance project in Africa won the 2012 Financial Times Award for Technology in Sustainable Finance, the 2013 Tech Award for Economic Development and the 2013 AON Client Innovation Award.  The team and insurance products have been featured in The New York Times, The Guardian, East African Business Week, Christian Science Monitor, Voice of America, BBC, The Economist and other media.

Insurance solutions model

Our Approach

Learn about our portfolio of agricultural insurance products

Our Programs

Learn about our new initiatives for Asia

Our team

Olga Speckhardt

Head of Global Insurance Solutions, Switzerland

Jean-Pierre Patzig

Insurance Program Coordinator, Switzerland

Srinivasa Rao Gattineni

Asia Insurance Coordinator, India

Parikrama Chowdhry

Communications Manager, India

David Muigai

Actuarial Officer, Kenya

Enock Sing’Oei

Consultant Product, Kenya

Wycliffe Kiplagat 

Actuarial Assistant, Kenya

Jackline Chemtai

Actuarial Assistant, Kenya

Mori Prananto

Insurance Country Manager, Indonesia

Andra Daniswara

Actuary, Indonesia

Aminul Moven

Insurance Country Manager, Bangladesh

Yasin Kabir

Technical Coordinator, Bangladesh

Sharmin Bulbul

Monitoring and Results Measurement Specialist , Bangladesh

San San

Research Consultant, Myanmar

Van Touch

Project Coordinator, Cambodia