A new insurance scheme in Ethiopia, known as index-based livestock insurance, aims to reduce losses, support pastoral communities, and lower the risk of conflict sparked by pastoralists migrating into agricultural areas in search of forage or water.
This case study explains how IBLI used satellite data to insure camels, cows, sheep and goats to develop the world’s
first insurance for African pastoralists
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.
Claims Settlement Award General Insurance Award Entry
A new kind of insurance may protect herders against drought Apr 19th 2014 | WAJIR | From the print edition The Economist AS WELL as a cheque for $700, a knowing look passed between Hassan Bashir and Bashir Mohamed, his 80-year-old father. A payment at a ceremony for herders in Wajir, a town near Kenya’s …
Source: Thomson Reuters Foundation – Fri, 4 Apr 2014 10:30 AM Author: Samuel Mintz LONDON (Thomson Reuters Foundation) – Researchers in Kenya have developed a pioneering insurance policy for nomadic Muslim livestock herders, which has now delivered its first payout to 101 farmers to compensate them for drought losses. The policy, which was purchased by …