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1 One World to protect « Assurance Récolte Sahel »
| Date post: | 10-Jul-2015 |
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One World to protect
« Assurance Récolte Sahel »
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Summary
I. Overview of PlaNet Guarantee
II. Basics of index insurance
III. The West African Crop Insurance initiative
IV. Network of Partners
V. Possibilities for Commercial Development
• Alleviation of poverty through the development of microinsurance
• Profits reinvested in the businessA social business
• Research and Development
• Selling microinsurance products2 business lines
A link between insurers, reinsurers
and MFIs
• Feasibility studies, pilots, full scale projectsExperienced in crop
insurance
I. Overview of PG
PlaNet Guarantee- intermediary in microinsuranceDistribution
Channels - accessto low-income
populations
Insurer/Reinsurer- risk
management capacities
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Benefits of index insurance:
Coverage of the hardest risks to manage
Elimination of adverse selection (likelihood weakest would sign up and strongest would not)
Because cost is lower more adapted to purchasing power of farmers
Automatic claims payout
II. Basics of Index Insurance
Index insurance is not linked to individual losses but linked to global parameters such as a weather stations or satellite images
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PlaNet Guarantee is implementing the first regional index insurance platform
Project targets Senegal, Mali, Burkina Faso, Benin, Côte d’Ivoire, Niger and Togo.
Population of approximately 50,000,000 ,of which 30,000,000 are in the agricultural sector.
Agriculture is the main economic activity representing a large portion of GDP and employing 70% of the active population
III. The West African Crop InsuranceInitiative - Context
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Overall Objective:
Reduces the risk of banks and microfinance institutions and encourages them to lend to the sector
By increasing access to credit and securing the financial sector the projects contributes to growth of the overall agricultural sector.
Budget: 4.4 M USD
Reduce the fluctuation in agricultural income and secure the financing mechanism of agriculture
III. The West African Crop InsuranceInitiative - Objectives
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III. The West African Crop InsuranceInitiative - Expected results
REGIONAL PLATEFORM
Cover 60,000 farmers by 2016
Raise awareness on agricultural insurance amongst 165,000 farmers
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III. The West African Crop InsuranceInitiative – How it works
Farmer buys inputs
from an agri-dealer on credit or with cash
Premium is included in the price of the inputs
PG collects list of all
participants
In times of poor
harvest, the index is
triggered
The insurer pays out to the insured
parties
Management of the entire process done via the regional platform
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2 pilots for rain deficit insurance:
Mali Burkina Faso
Based on satellite data Covers maize Partners:
Allianz Africa & Swiss Re : insurance and reinsurance
Oxfam (Mali) : Training and raising awareness
EARS : Technical Index expert Soro Yiriwaso (Mali) / CVECA Boucle du
Mouhoun, MECAP (Burkina) : Distribution, Subscription
III. The West African Crop InsuranceInitiative - Current Status of Project
Pilot for average yield insurance:
Mali Based on area yield Covers cotton Partners :
I-4 : Research and development on indexes & impact study
Allianz Africa & Swiss Re : insurance and reinsurance
Oxfam (Mali) : Training and raising awareness
GIE (CMDT, OHVN, UN-SCPC) : Subscription
BNDA : Banking Group, beneficiary
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The project is implemented by PlaNet Guarantee and the following organizations:
Allianz Africa (France)
Swiss Re (Switzerland :
Oxfam GB (Great Britain):
CIRAD (France)
CNAAS (Senegal)
PlaNet Finance (France)
IV. The Network of Partners
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The advantages of participating in the distribution of the products:
– Secure income in areas prone to in the event of natural disasters or rainfall deficit
– Permits to be remunerated for distributing the insurance product.
– Enhance quality of farmer production
– Reinforce the confidence and the link with farmers
– Part of a social goal to reduce vulnerability in the region
V. Possibilities for Commercial Development
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PLANET GUARANTEE
44 rue de Prony • 75017 Paris, FRANCE
Olivier Laboue – President
Mathieu Dubreuil – Project Manager
Anaar Kara – Director of Partnerships
CONTACT
