Planet Guarantee Regional Index-Based Crop Insurance

completed

The project works with PlaNet Guarantee, a subsidiary of the PlaNet Finance Group dedicated to the promotion and development of microinsurance systems, to address key components of the value chain for crop insurance in Western Africa countries. Beginning with the two countries where PlaNet Guarantee is currently conducting pilot programs (Mali and Burkina Faso), the project will incorporate two new countries per year. Specific actions include conducting feasibility studies, creating weather and yield indexes, disseminating information on crop insurance across the region, and establishing an index insurance hub that will provide underwriting and claims management services and develop a reinsurance pool. The objective is for 500,000 farmers in Western Africa to have index insurance by 2016.