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.
Watch highlights from the conference
- 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
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
Head of Global Insurance Solutions, Switzerland
Insurance Program Coordinator, Switzerland
Srinivasa Rao Gattineni
Asia Insurance Coordinator, India
Actuarial Officer, Kenya
Consultant Product, Kenya
Actuarial Assistant, Kenya
Actuarial Assistant, Kenya