The Nepali microfinance institution Jeevan Bikas Laghubitta Bittiya Sanstha, Swiss insurance technology (insurtech) firm Pula and the UN Capital Development Fund (UNCDF) recently announced the completion of a pilot program combining technical assistance, subsidies and financial education to design and deploy an index-based insurance product for Nepali smallholder farmers. The program provided 15,000 smallholder farmers with insurance covering
Tag: Insurance
MICROCAPITAL BRIEF: Credit Café Africa, Sterling Bank Partner on $22m in Loans for Providers of Health, Education in Nigeria
Two Nigeria-based companies, the financial services portal Credit Café Africa and Sterling Bank, recently agreed to collaborate to distribute NGN 10 billion (USD 21.7 million) in loans to health and education facilities. The loans, which will be sized between NGN 100,000 (USD 217) and NGN 20 million (USD 43,400) are to focus on
SPECIAL REPORT: Enabling Microinsurance via Technology: RFID Tags Slash Fraud, Costs of Livestock Cover in Rwanda
At a well-attended workshop today at European Microfinance Week, Ovia Tuhairwe, the CEO of Radiant Yacu Microinsurance, described her firm’s journey to develop a viable product to insure livestock in Rwanda. On its own, a subsidy of 40 percent from the Rwandan government did not make it easy to insure cattle, pigs and chickens in the country. Before Radiant Yacu moved to its current model in 2019, fraud was rampant, and costs were high at 10 percent of
MICROFINANCE EVENT: International Conference on Inclusive Insurance (ICII); October 24-28, 2022; Kingston, Jamaica
The upcoming iteration of this event – the first in-person since 2019 – will include 26 sessions on the increasing role of insurance in developing markets. The first day features pre-conference workshops such as:
MICROCAPITAL BRIEF: Fintech Oko Secures $500k in Equity from Katapult, Individual Investors to Expand Agricultural Insurance to Cote d’Ivoire
Oko Finance, an agricultural insurance company active in Mali and Uganda, recently raised USD 500,000 in equity to expand its operations to Cote d’Ivoire. Founded in 2017 and based in Mali, Oko insures 15,000 farmers growing cotton, grains and coffee in partnership with local insurers, using
MICROCAPITAL BRIEF: BlueOrchard Executes IIF Equity Buy into Forte Insurance to Boost Agricultural Microinsurance in Cambodia
Switzerland’s BlueOrchard Finance recently disbursed an equity placement of undisclosed size from the InsuResilience Investment Fund (IIF), a Luxembourg-domiciled public-private partnership, for IIF to buy a minority stake in Cambodia’s Forte Insurance Group. BlueOrchard’s investment director for the continent, Thibaud Ponchon, expressed confidence that the placement will “drive the penetration of
MICROCAPITAL BRIEF: InsuResilience Investment Fund Acquires 40% Equity Stake in Ghana-based Insurance Company Vanguard
Switzerland’s BlueOrchard Impact Investment Advisors recently disbursed an undisclosed sum from the InsuResilience Invest Fund (IIF), a Luxembourg-domiciled public-private partnership, for IIF to buy 40 percent of the shares of Vanguard Assurance, an insurer in Ghana that provides microinsurance as well as traditional coverage. The deal, under which IIF controls multiple seats on Vanguard’s Board of Directors, is intended to grow
MICROCAPITAL BRIEF: Alpha Direct of Botswana Expands Insurance Service to Zambia, Plans Equity Raise
Botswana-based insurance underwriter Alpha Direct recently expanded its operations to Zambia under the name Alpha Insurtech Zambia. Alpha Insurtech is partnering with Zambia-based General Alliance Insurance to
MICROCAPITAL BRIEF: FMO Announces $6m Loan for Microfinance Institution Sembrar Sartawi of Bolivia to Support Climate Resilience, Growth of Small-scale Farmers
Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden (FMO), a Dutch public-private partnership, recently announced a loan of USD 6 million to support Bolivia-based microfinance institution (MFI) Institución Financiera de Desarollo Sembrar Sartawi. The Dutch Fund for Climate and Development (DFCD), a private entity managed by FMO, will fund the facility, aiming to boost the “climate-resilient economic growth [of] vulnerable smallholder farmers” through
MICROCAPITAL BRIEF: Avla Raising $20m in Equity Round to Be Led by US-based Creation Investments to Expand B2B Insurance Offerings in Chile, Mexico, Peru
US-based Creation Investments Capital Management recently announced it is leading an equity investment of USD 20 million in Avla, a Chile-based business-to-business provider of insurance, surety bonds and collections services in Chile, Mexico and Peru. The firm’s insurance products include coverage for
MICROCAPITAL BRIEF: Activa Insurance, AXA Cameroon, IFC Launch Agricultural Index Insurance Project
The International Finance Corporation (IFC), a member of the World Bank Group, recently partnered with two insurance companies in Cameroon to create agricultural index insurance products. These products offer payments to
MICROFINANCE EVENT: 15th Consultative Forum on Inclusive Insurance; May 7, 2019; Panama City, Panama
This event will address causes and potential solutions to the exposure that poor and other vulnerable people face to climate change and natural disasters. This includes the potential roles of insurers and policymakers in eliminating the protection gap as well as improving individuals’ resilience in general. The forum will take place
MICROCAPITAL BRIEF: Grameen Credit Agricole Foundation Loans Agora Microfinance Zambia (AMZ) Local-currency Equivalent of $687k
The Grameen Credit Agricole Foundation (GCA) has told MicroCapital that it lent Agora Microfinance Zambia (AMZ), an affiliate of UK-based Agora Microfinance Partners, local currency approximately equivalent to USD 687,000. AMZ offers loans and insurance services – including
MICROCAPITAL BRIEF: ILO’s Impact Insurance Facility, Prudential Foundation to Develop Microinsurance Services in Asia; Provide Technical Support for Insurers in Latin America
The Impact Insurance Facility (IIF) of the UN’s International Labour Office (ILO) and the Prudential Financial Incorporated (PFI) Foundation, a unit of the US-based financial services company PFI, recently announced a program intended to: (1) develop microinsurance products for low-income households as well as small and medium-sized enterprises (SMEs) active in Asia; and (2) provide technical support to four financial service providers operating in Latin American countries.
MICROFINANCE EVENT: 14th International Microinsurance Conference: “Inclusive Insurance for Emerging Markets;” November 6 – 8, 2018; Lusaka, Zambia
Speakers at this year’s event will explore strategies to expand the growth and the accessibility of microinsurance services in emerging economies. Although the details of this year’s agenda are still under development, last year’s edition covered topics such as the role of microinsurance in economic development and digital technologies for microinsurance.
MICROFINANCE EVENT: TBLI Conference Nordic 2018; November 8 – 9, 2018; Stockholm, Sweden
As in previous editions in several other countries, the next TBLI Conference will consider triple bottom line investing (TBLI) – investing that “benefits investor, environment, and society” – including environmental, social and governance (ESG) investing. Sessions will address the
MICROCAPITAL BRIEF: Toffee Insurance of India Secures $1.5m in Equity for Digital Microinsurance from Kalaari Capital, Omidyar Network, Accion Venture Lab
Toffee Insurance, an online microinsurance firm based in India, recently received a total of USD 1.5 million in equity from Accion Venture Labs, a fund of US-based NGO Accion; Kalaari Capital, an Indian for-profit investment firm; and Omidyar Network, a US-based NGO. Toffee will use the
MICROFINANCE EVENT: Microinsurance Business Models for Africa; April 6-7, 2016; Diani, Kenya
Event Name: Microinsurance Learning Sessions: Microinsurance Business Models for Africa
Event Dates: April 6-7, 2016