Business Partnership Facility
An impactful insurance solution for breeders facing climate-change risks
Project leader
IBISA (Luxembourg)
Local partner
Réseau Bilital Maroobé (Niger)
Amount of co-financing
EUR 200,000
- Niger
- 2019
- Completed
Challenge
In Niger, breeders are facing increasingly frequent droughts caused by climate change. Consequently, their sources of income and food are under constant threat.
Innovative solution
In partnership with the West African Breeders Network, IBISA tested its satellite data-based insurance solution in an initial African market. In the event of adverse weather conditions, local insurance companies, clients of IBISA, can assess satellite data to determine damages and initiate a digitized, rapid, and cost-effective claims process.
Impact
- Access to an insurance product for breeders, reducing their risks linked to climatic hasards
- 1,000 breeders insured in Senegal, with the deployment of IBISA’s solution in this country, and ongoing expansion into Ghana
Targeted Sustainable Development Goals
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1,000 breeders are insured in Senegal, allowing them to build a safety net against meteorological risks and thus break the cycle of poverty that generally keeps them trapped.
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IBISA’s data enables breeders to invest more effectively, thereby stimulating local food production.
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Protecting breeders against risks improves their ability to access credit from banks or microfinance institutions.
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IBISA mitigates financial losses related to climate hazards and strengthens breeders’ resilience.
Latest news about the project
News
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