Since 2011, ILRI and its partners in the public, private and non-profit sectors have pursued a comprehensive research agenda aimed at designing, developing and implementing market mediated index-based insurance to protect livestock keepers from drought related asset losses, particularly those in the drought prone Arid and Semi-Arid Lands (ASALs).
As the world of finance continues to evolve the need for insurance also is growing both in Ethiopia and around the world. However rural communities and especially pastoralist communities tended until recently to have been denied access to insurance among other reasons being their remoteness and lack of specialized insurance scheme for their community. But that’s about to change as Oromia Insurance Company Share Company (OIC) one of the newest entrants to the industry has embarked on covering this often neglected community starting with the Borena pastoralist community
Oromia Insurance Company has introduced a new service using satellite data to insure pastoralists in Southern Ethiopia by using Index Based Livestock Insurance (IBLI).
Private insurance against drought, common elsewhere in the world, has been successfully piloted in northern Kenya since 2010, as well as in parts of southern Ethiopia.
About 80% of Kenya’s land is arid or semi-arid lands (ASAL) with the main livelihoods being pastoral, agro-pastoral and subsistence agriculture. Farmers and herders in these areas, among the poorest in the country, suffer from a weak natural resource base in addition to weak institutions and infrastructure. In such cases droughts act as a covariate shock …
IBLI Borena Household Survey Data is publicly available. For more details, visit ILRI Datasets Portal: link to round 1 data link to round 2 data
Claims Settlement Award General Insurance Award Entry
TAKAFUL Insurance of Africa Monthly Bulletin – Issue 18- July 2014 As part of the activities to roll out the IBLT Cover in Isiolo County in the September–AugustSales Window, IBLT Agents were trained on the product to ease their interaction and sales within the community….read more