Index insurance has demonstrated its potential to help farmers, microenterprises, and other climate-vulnerable clients manage shocks that can otherwise erase years of progress. By linking payouts to an objective measure, such as rainfall, temperature, wind speed, or crop yield, these products can provide financial support more quickly and with lower claims-adjustment costs than traditional indemnity insurance. Yet proving that an index-based product can work is not the same as building a market that can endure. Across emerging markets, many promising insurance initiatives have struggled to

Insurance is usually discussed as a mechanism for responding after a disaster. A defined event occurs, a claim or trigger is validated, and a payout provides resources for recovery. That function remains essential. Yet in markets facing more frequent and severe climate shocks, paying for losses after they occur is not enough. Insurance can play a larger role by helping households, businesses, lenders, and governments reduce risk before an event. The next generation of climate insurance should therefore connect three functions: understanding risk, reducing risk, and financing the losses that

When more than 50 government officials and practitioners gathered in Istanbul in April 2025, the objective was clear: move beyond theory and equip countries with the practical tools needed to strengthen disaster risk insurance systems. Convened under the World Bank Group Academy’s Disaster Risk Insurance Impact Program and delivered in partnership with the Insurance Development Forum, the 2025 Istanbul event focused on one critical question: how to design and implement effective public-private insurance solutions to close the disaster protection gap. But Istanbul was never meant to be a

The 2026 Spring Meetings of the World Bank Group and the International Monetary Fund come at a critical moment for the global economy. Held from April 13–18 in Washington, D.C., this year’s discussions are framed around a central theme: “Building Prosperity Through Policy.” But beyond the title, the message is clear, this is no longer just about policy design. It is about delivery at scale. Across sessions, one priority stands out: creating jobs. As emphasized by Ajay Banga, the world is facing a defining challenge. Over the next decade, 1.2 billion young people in developing countries will

Launch of the Capacity Building Program In this interview, the Secretary General of the African Insurance Organisation (AIO) reflects on the launch of the GIIF capacity-building program and its role in strengthening agricultural and climate insurance across Africa. He shares insights on key challenges, early results from the first cohort, and the path toward scaling impactful, inclusive insurance solutions. GIIF: Congratulations on the launch of the “Capacity Building and Development for Agricultural and Climate Insurance” training series. To begin, could you share what inspired this

In 2019, when GIIF brought together innovators, insurers, policymakers, and investors in Mumbai for its Agriculture Insurtech Innovation Challenge, the objective was to create space for emerging technologies to be tested, discussed, and assessed at the intersection of agriculture, insurance, and resilience. At the time, many of the innovators participating in the challenge shared a common ambition: using data, digital platforms, and new forms of connectivity to address long-standing constraints faced by smallholder farmers—limited access to finance, exposure to climate risk, and fragmented

Over the past decade, agricultural insurance has evolved from an experimental concept in low-income markets to a tool for strengthening farmer resilience and food security. Early pilots, advisory support, and collaboration across public and private actors paved the way for insurtech companies to operate at scale. Pula’s journey illustrates how innovation, technical assistance, and long-term partnerships can transform pilots into integrated systems supporting millions of smallholder farmers. Laying the Foundations: Building the Market In Kenya, Kilimo Salama, an index-based microinsurance

As part of the KNOWvember 2025 discussion series, the W orld Bank Group (WBG) Academy Impact Program “Disaster Risk Insurance” held a webinar session titled “Insuring Against Disaster Risk” last November 25th. The webinar showcased how knowledge, financing, and public-private collaboration can accelerate real-world development impact, with lessons shared from the training held in Istanbul in April 2025. Opened by Véronique Kabongo, Head of the World Bank Group Academy and Client Capacity, the session highlighted the Academy’s evolving role as a one-stop shop for client capacity building across

In June, the Insurance team within the Financial Institutions Group (FIG) conducted a business development mission to Senegal and Côte d’Ivoire. The mission was jointly held with Investment and Advisory colleagues, including both global and local teams, such as Florence Boupda Ngueda––FIG Global Sector Manager for Insurance, Housing and DARP; Astou Ryanna Dem––Investment Analyst; James Smouse–– Principal Investment Officer, Head of Insurance; and Shadreck Mapfumo––Senior Insurance Specialist. The mission highlighted some exciting opportunities to support the growth of the insurance markets in

As droughts intensify and grazing land becomes scarcer, tensions between farmers and pastoralists in Northern Nigeria have continued to rise. But a new approach to insurance could help ease these pressures and offer a path toward more peaceful, climate-resilient communities. On July 24, 2025, stakeholders from across the public and private sectors gathered in Abuja, Nigeria for the launch of two innovative insurance products designed to respond to the unique challenges faced by farmers and herders. The event, hosted by Africa Re, marked a key milestone in the Nigeria Inclusive Insurance