Agricultural Insurance Solutions
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.
What does an actuary in our insurance team do? Read our interview.
Range of services
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.