The Global Inclusive Insurance Facility (GIIF), supports the development of climate and agricultural insurance markets to strengthen financial resilience among vulnerable populations. In India, GIIF has played a key role in expanding access to finance for smallholder farmers and agribusinesses by advancing innovative insurance solutions, promoting the use of granular agricultural data, and supporting capacity building across public and private stakeholders. Building on this foundation, GIIF’s work in India continues to evolve toward more inclusive and scalable solutions. Through partnerships
India
02
Feb
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
How does Stellapps use technology to improve the livelihoods of smallholder dairy farmers? Stellapps is a farm to consumer dairy digitization service provider, improving productivity, quality and ensuring end-to-end traceability across the dairy supply chain. It leverages advanced analytics and artificial intelligence through its full-stack IoT platform to enable dairy ecosystem partnerships with financial & insurance institutions, veterinary services, cattle nutrition providers etc. to drive significant value for smallholder farmers and all stakeholders in the dairy value chain. Through its
IFA is an agriculture technology (AgTech) company based in Nepal, providing localized agriculture extension services enabled by Information Communications Technology (ICT). Its mission is to scale digital solutions for the agricultural last mile and improve smallholder’s financial inclusion, livelihood and climate resilience. IFA was awarded under the Sales & Distribution Category in the GIIF Agriculture Insurtech Challenge 2019. Watch the video here.
25
Jan
Agriculture Technologies (AgTechs) have demonstrated positive impact on improving the development of agriculture sector specially during the COVID-19 pandemic. By disrupting traditional supply chain, agtechs help to improve efficiency, reduce input cost, and increase farmers’ income by raising farm gate price, etc. Adopting and scaling up AgTechs can unleash the potential of the improvement in agriculture sector, which is of great significance to countries with high proportion of employment in this industry . India has 41.49% of its workforce employed in agriculture industry ( ILO 2020)
Aquaconnect is a technology venture that promotes sustainability through data-driven farm advisory and marketplace solutions for Aqua Farmers. Its AI-powered mobile application transforms real-time data collected from the farms into impactful insights. They provide end-to-end services like farm management assistance, on-ground support, formal finance, access to market leveraging players on the value chain. Aquaconnect was awarded under the Premiums & Claims category in the GIIF Agriculture Insurtech Challenge 2019. Watch the interview video here.
GIIF organized an agriculture Insuretech innovation challenge/competition as a part of an Insuretech fair, hosted in Mumbai, India in July 2019. Through this innovation fair, the GIIF aims at improving the understanding of Insuretech, supporting the integration of different technology solutions with agriculture insurance, and applying innovation with actual programs on the ground. The Awards recognized some of South and South-East Asia and Pacific's most promising entrepreneurs who are using technology to address challenges in providing agricultural insurance to farmers. The awards were given
8
Jul
Topics:
The potential of agriculture and insurance is greatly restricted by many challenges faced throughout the product lifecycle - from product design to client delivery to claim processing. Insuretech, at the intersection of insurance and technology, holds the potential to overcome those challenges and transform the insurance landscape. Integrating Insuretech innovations with agriculture insurance promises to enhance product design, improve sales and distribution, facilitate premium collection, and optimize servicing and claims processing. To leverage innovative solutions, the Global Index
The high transaction costs of serving low-income clients in developing and emerging market economies demand innovative approaches and technological advancements. Challenges that inflate operational costs include data collection, processing and management, premium payment mechanisms as well as claims verification and settlement. Index insurance products, mobile payment devices or more accurate weather and agricultural-yield information based on satellite data are examples of innovative approaches that can help to overcome these challenges
The core objective is to strengthen insurance services that support the risk management needs of rural households.