(Left to right) Dominic Clark, Mariah Mateo Sarpong, Michael McCord represented Milliman’s Microinsurance Centre at the 2nd FAIR Life Re/Insurance Forum in Cairo. Michael moderated a workshop on microinsurance pricing and spoke on business planning and product development. They were also present to congratulate the first class of the Insurance Institute of Egypt’s Microinsurance Diploma Program. #lifeatmilliman#millimancr#microinsurance#lifeinsurance#Cairo#Egypt
In rain-fed agriculture, uncertainty is a hinderance towards success. Crop insurance promises farmers financial protection even if the weather is not on their side. Ensure success for small-scale farmers with Zua! (link in bio) #insuregrowth#zua
Water management and storage is increasingly necessary as water sources are threatened due to climate change. For farmers the stakes are even higher since agricultural success is dependent on a reliable water source #didyouknow#zua
Index insurance could be the tool that small-scale farmers need to ensure climate resilience! Check out Zua's micro insurance projects (link in bio). #zua#insuregrowth
Research has shown that the burden of healthcare goes beyond the cost of treatment or hospitalization. Out-of-pocket expenses on medicines and medical equipment are recurring and burdensome. Women’s World Banking research with low-income households in various countries also reveals that there are certain “hidden” non-medical expenses, such as loss of income, transportation, special food and bribes paid at the hospital. These expenses are significant and can amount to almost 70 percent of total treatment expenses. #Insurance#Women#Microinsurance#Jordan
When we invest in rural farmers, we open doors to opportunities that will allow them to drive development! Visit our website to support our projects to empower rural farmers in Zambia (link in bio). _______________________________________________Photo by Annie Spratt on Unplash
Empowered by #bigdata and deep learning models, there is a great potential to bring down the cost of #reinsurance of crop risks and making it more affordable for the farmers. #Weather#insurance products have been around for a long time. With innovations taking place in #LPWAN technologies and IoT, #farm#productivity applications are now more affordable and insurers can not just monitor risks but they can use the real-time farm data to create better products that are more suited to smallholders.
Indeed, its a terrific opportunity for the insurance sector, and will help the smallholders improve their livelihoods by managing their farming risks better and increase productivity.