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Kilmo Salama - Index-based Agriculture Insurance: A Product Design Case Study

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dc.contributor.authorInternational Finance Corporation
dc.date.accessioned2015-04-02T21:30:05Z
dc.date.available2015-04-02T21:30:05Z
dc.date.issued2015-03
dc.description.abstractFarming is a mainstay of the Kenyan economy, representing three quarters of employment in the country. Nearly half of all farming output in the country is for subsistence purposes. Therefore, many farmers livelihoods are entirely dependent on their harvests, both for the income generated by selling crops and for feeding their families. Unfortunately, there is little certainty in subsistence farming since the size of the harvest is largely determined by the timing and amount of rainfall. The objective of this case study is to describe the design and implementation of an index-based agricultural insurance product targeting rural farmers in Kenya. The Kilimo Salama (Safe Agriculture in Kiswahili) product has been successful in protecting farmers against risks from drought or excessive rainfall, both of which can have disastrous effects on the harvest. The following sections present weather-related risks affecting farmers, the steps taken to address these problems by designing a new insurance product, the product development and implementation process, and the impact of this new product thus far. Beyond the focus on product design, this case also discusses lessons learned since the product's launch, how the product is expected to evolve in future versions, and scalability.en
dc.identifierhttp://documents.worldbank.org/curated/en/2015/03/24158203/kilmo-salama-index-based-agriculture-insurance-product-design-case-study
dc.identifier.doi10.1596/21682
dc.identifier.urihttps://hdl.handle.net/10986/21682
dc.languageEnglish
dc.language.isoen_US
dc.publisherWashington, DC
dc.rightsCC BY-NC-ND 3.0 IGO
dc.rights.holderInternational Finance Corporation
dc.rights.urihttp://creativecommons.org/licenses/by-nc-nd/3.0/igo/
dc.subjectAGRICULTURAL INSURANCE
dc.subjectAGRICULTURAL REGION
dc.subjectBANKING SERVICES
dc.subjectBANKS
dc.subjectBARRIER
dc.subjectCHEMICALS
dc.subjectCLIMATE
dc.subjectDAMAGES
dc.subjectDEPOSIT
dc.subjectDEVELOPING COUNTRIES
dc.subjectDEVELOPMENT ECONOMICS
dc.subjectDISTRIBUTION SYSTEM
dc.subjectDROUGHT
dc.subjectDROUGHT RISK
dc.subjectDROUGHTS
dc.subjectDRY SEASON
dc.subjectEARTHQUAKES
dc.subjectECONOMIC PERSPECTIVE
dc.subjectEXPOSURE
dc.subjectFARMER
dc.subjectFARMERS
dc.subjectFARMING OUTPUT
dc.subjectFINANCIAL INSTITUTIONS
dc.subjectFINANCIAL PRODUCT
dc.subjectFINANCIAL PRODUCTS
dc.subjectFINANCIAL SERVICES
dc.subjectFLOOD
dc.subjectFORMAL BANKING
dc.subjectFRAUD
dc.subjectINCOME
dc.subjectINCOMES
dc.subjectINDEMNITY
dc.subjectINFRASTRUCTURE REQUIREMENT
dc.subjectINSURANCE
dc.subjectINSURANCE COMPANY
dc.subjectINSURANCE CONTRACTS
dc.subjectINSURANCE COVERAGE
dc.subjectINSURANCE INDUSTRY
dc.subjectINSURANCE MARKET
dc.subjectINSURANCE PREMIUM
dc.subjectINSURANCE PRODUCT
dc.subjectINSURANCE PRODUCTS
dc.subjectINSURER
dc.subjectINSURERS
dc.subjectLACK OF INFRASTRUCTURE
dc.subjectLOCAL FARMERS
dc.subjectMAJORITY OF FARMERS
dc.subjectMARGINAL COST
dc.subjectMARKET PENETRATION
dc.subjectMICRO-INSURANCE
dc.subjectMICROFINANCE
dc.subjectMOBILE BANKING
dc.subjectMOBILE PHONE
dc.subjectMOBILE PHONES
dc.subjectNATURAL DISASTERS
dc.subjectNEW PRODUCT
dc.subjectNEW PRODUCTS
dc.subjectOUTPUTS
dc.subjectPAYMENT SYSTEM
dc.subjectPHONE NETWORK
dc.subjectPORTFOLIO
dc.subjectREMOTE REGIONS
dc.subjectREPUTATION
dc.subjectRURAL AREAS
dc.subjectRURAL FARMERS
dc.subjectSAVINGS
dc.subjectSUBSISTENCE
dc.subjectSUSTAINABLE AGRICULTURE
dc.subjectTRANSACTION COSTS
dc.subjectWEATHER EVENTS
dc.subjectWEATHER INSURANCE
dc.subjectWIND SPEED
dc.titleKilmo Salama - Index-based Agriculture Insuranceen
dc.title.subtitleA Product Design Case Studyen
dc.typeWorking Paperen
dc.typeDocument de travailfr
dc.typeDocumento de trabajoes
dspace.entity.typePublication
okr.date.disclosure2015-03-16
okr.date.doiregistration2025-05-05T12:23:03.801972Z
okr.doctypePublications & Research
okr.doctypePublications & Research::Working Paper
okr.docurlhttp://documents.worldbank.org/curated/en/2015/03/24158203/kilmo-salama-index-based-agriculture-insurance-product-design-case-study
okr.globalpracticeFinance and Markets
okr.guid963291468039041424
okr.identifier.externaldocumentum000477144_20150316111540
okr.identifier.internaldocumentum24158203
okr.identifier.report94794
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2015/03/16/000477144_20150316111540/Rendered/PDF/947940WP0Box380ture0Insurance0Final.pdfen
okr.region.administrativeAfrica
okr.region.countryKenya
okr.topicPoverty Reduction::Rural Poverty Reduction
okr.topicMacroeconomics and Economic Growth::Climate Change Economics
okr.topicPrivate Sector Development::Emerging Markets
okr.topicMacroeconomics and Economic Growth::Regional Economic Development
okr.topicUrban Development::Hazard Risk Management
okr.topicAgriculture::Agricultural Sector Economics
okr.topicAgriculture::Commodity Risk Management
okr.topicFinance and Financial Sector Development::Insurance & Risk Mitigation
okr.unitFinance & Markets - GP - IBRD (GFMDR)
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