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Global Action Network to advance agriculture insurance

The risks that the rural poor face are often the obstacles to success of many initiatives that aim to make them more resilient and pull them out of poverty. Recognizing the crucial role of risk transfer instruments, there have been many efforts in developing agriculture insurance initiated at the international level and involving different players and stakeholders. While the overall objective of all these interventions is the same – to improve the livelihoods of farmers – gains are not optimized due to the lack of communication and coordination, and limited collaboration across programmes that can potentially create synergies.

The ILO’s Impact Insurance Facility addresses these identified gaps by assuming the role of a Secretariat for a Global Action Network on agriculture insurance. The role includes setting up and coordinating the activities of a consortium of thought leaders from the development, private sector, and research communities who are engaged in developing agriculture insurance markets, while working in select countries to build local capacity to implement agriculture insurance.

Purpose: To expand innovations in agriculture insurance and ensure quality implementation on the ground through the coordination of the Global Action Network will help accelerate the availability and adoption of agriculture (index) insurance as part of a broader risk management strategy.

Activities:

The Facility is actively involved in three main activities that focus on network coordination, collection of lessons learned, and generating relevant outputs for dissemination:

  1. Establish and coordinate the activities of an action network consisting of a community of experts
  • Convene “Kick-off” meeting and creating sub-groups  to tackle particular topics that can help agriculture index insurance in reaching scale
  • Assist the Global Action Network to act as an objective review body for stakeholders that are considering funding work in this area
  • Engage reinsurers and create a directory for use by local practitioners
  • Synthesize lessons and extracting best and next practices, as well as challenges
  • Commission  a literature review, in-depth evaluations of existing schemes, and relevant research papers on key topics
  • Facilitate face-to-face technical meetings and interactive knowledge sharing
  1. Build capacity of practitioners and governments in 3 focus countries
  • Coordinate activities at the country level with key stakeholders though collaboration and building local networks
  • Align country selection and activities with the Political Champions group
  • Work with local regulatory bodies to create facilitative policy and regulation, and coordinate these efforts with the IAIS
  • Develop strategies to appropriately position agriculture index insurance instruments within the country’s risk management efforts
  • Organise, conduct and participate in local agriculture insurance fairs
  • Assist the Action Network in conducting trainings on agriculture (index) insurance
  1. Promote “responsible” scaling of agriculture insurance to the broader insurance community
  • Create knowledge products and tools based on lessons learned from the work of the Global Action Network and the capacity building activities in focus countries
  • Disseminate knowledge products in a variety of formats such as case briefs, publication of emerging insights, posting of research findings and participation in relevant forums
  • Develop and maintain an agriculture-specific section in the Facility website 

Lessons

Emerging Insights

Publications

Other resources