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Scaling up Index-based Flood Insurance (IBFI) for agricultural resilience and flood-proofing livelihoods in developing countries

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Title Scaling up Index-based Flood Insurance (IBFI) for agricultural resilience and flood-proofing livelihoods in developing countries
 
Creator Amarnath, Giriraj
Malik, Ravinder Paul Singh
Taron, Avinandan
 
Subject flooding
resilience
agricultural insurance
crop insurance
livelihoods
developing countries
scaling
disaster risk management
risk transfer
business models
product development
marketing
public-private partnerships
stakeholders
state intervention
financial institutions
microfinance
smallholders
farmers
awareness raising
climate change
satellite observation
rivers
rain
flood damage
crop losses
compensation
subsidies
legal aspects
economic aspects
social aspects
drought
case studies
 
Description This research report presents the first comprehensive framework of business models in terms of developing, marketing and scaling Index-based flood insurance (IBFI). The report evaluated ten case studies on agricultural insurance schemes (macro, meso and micro levels), globally, to develop public-private partnership business models for creating value (product development) and capturing value (product marketing). This report highlights four broad groups of interrelated factors that influence the uptake and scaling of agricultural insurance: (i) behavioral factors that influence farmers’ enthusiasm to invest in insurance; (ii) financial factors that stipulate governments’ willingness to provide financial support; (iii) legal and regulatory factors, which set ground rules for fair business and govern their adherence by stakeholders; and (iv) facilitating factors, including product design and development, business models, research and development, data availability, and awareness creation, which help ensure an efficient supply of insurance services. In summary, the report highlights the need for designing innovative IBFI and its potential benefits for uptake, and efforts for implementing IBFI as a potential risk transfer tool for comprehensive climate risk management among small-scale and marginal farmers.
 
Date 2021-08-24
2021-08-24T16:33:25Z
2021-08-24T16:33:25Z
 
Type Report
 
Identifier Amarnath, Giriraj; Malik, Ravinder Paul Singh; Taron, Avinandan. 2021. Scaling up Index-based Flood Insurance (IBFI) for agricultural resilience and flood-proofing livelihoods in developing countries. Colombo, Sri Lanka: International Water Management Institute (IWMI). 68p. (IWMI Research Report 180) [doi: https://doi.org/10.5337/2021.213]
978-92-9090-919-4
1026-0862
https://hdl.handle.net/10568/114748
https://www.iwmi.cgiar.org/Publications/IWMI_Research_Reports/PDF/pub180/rr180.pdf
https://doi.org/10.5337/2021.213
Managing Resource Variability and competing use
H050608
 
Language en
 
Relation IWMI Research Report 180
 
Rights CC-BY-4.0
Open Access
 
Format 68p.
application/pdf
 
Publisher International Water Management Institute (IWMI)