CGAP (the Consultative Group to Assist the Poor), a US-based, nonprofit research center that aims to facilitate the expansion of financial access, and Pula, a Kenya-based, agricultural insurance intermediary that serves small-scale farmers by leveraging satellite technology, recently announced that they are partnering to deliver “satellite-based agricultural insurance” to farmers in Nigeria. CGAP will “help Pula source highly specialized expertise on geo-data analysis and modeling that will enable Pula to…verify yields remotely and be able to process insurance claims in a cheaper manner.” Additionally, CGAP will “document the results…to distill lessons on the opportunities and challenges of replicating this approach elsewhere.”
As of 2016, Pula serves 400,000 farmers in Ethiopia, Kenya, Malawi, Nigeria, Rwanda and Uganda.
Based in Washington DC, CGAP is a policy and research center dedicated to increasing financial access worldwide by providing market intelligence, promoting standards and offering advisory services to governments, microfinance providers, donors and investors. As of June 2016, CGAP reported annual donor contributions totaling USD 26.8 million. CGAP is co-located with the offices of the World Bank Group.
By Matthew O’Neill, Research Associate
Sources and Additional Resources:
Information provided directly to MicroCapital by CGAP.
CGAP press release:
http://www.cgap.org/news/cgap-and-pula-partner-bring-satellite-based-insurance-farmers
Pula website:
https://www.pula-advisors.com/
Additional information on Pula from Medium’s DFS Lab:
https://medium.com/dfs-lab/dfs-lab-companies-are-hiring-pula-seeking-chief-technology-officer-1db535b810b6
MICROCAPITAL BRIEF: Carolina Trivelli to Chair CGAP (Consultative Group to Assist the Poor) Executive Committee:
http://www.microcapital.org/microfinance-brief-carolina-trivelli-chair-cgap-consultative-group-assist-poor-executive-committee/
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