Focuses on developing and validating new products that meet smallholder needs. The product range includes a variety of crops and perils designed for different geographies. These products are fine-tuned to specific client risk profiles, distribution channels, and local conditions. The products must be profitable for the insurer and affordable to the farmer. The main activities in this phase include product design, testing, modification, and technology development.
Develop
As a next step, the market for agricultural insurance must be developed. This phase focuses on building the capacity of local supply-side and demand-side partners across the public and private sectors. To increase farmers’ adoption of climate-risk insurance products, we run financial education and awareness campaigns to enhance their financial literacy. This phase also includes policy dialogue at the insurance regulatory level.
Scale
The aim of this phase is to scale up commercially viable and successful products and distribution channels with the aim of reaching as many smallholders as possible.
