Both products offer combined insurance cover against heavy wind and rainfall and are designed to offer immediate financial support after extreme weather events.
The overall program objective is to increase the productivity of the participating actors in the agricultural value chains particularly affected by climate change.
The co-investment represents IFC's first investment in the insurance brokerage sector and reflects IFC's interest in increasing insurance penetration for Mexican companies alongside a leading player in the market.
IFC and PasarPolis Partner Amid Pandemic to Boost Microinsurance Safety Nets for Indonesia’s Most Vulnerable
Under an agreement, IFC will provide PasarPolis with $5 million in equity finance to develop infrastructure to connect insurers, digital platforms and customers unserved by the traditional insurance sector.
Under the agreement, IFC will help AIA Sri Lanka develop a women's insurance program strategy and suitable products for Sri Lankan women.
The pandemic highlights the crucial role of insurance as a safety net when people lose their jobs or are unable to get to work, when bread-winners get sick or die, or when small businesses are forced to shut.
The events that have unfolded have brought to the fore the need to provide some sort of a social security net for millions of toiling masses.
In response to COVID-19, the new SCBF product upscaling project supports a local insurtech company to implement a first-of-its-kind e-health value added service product with two core features: e-health tele-consultation bundled with COVID-19 insurance.
COVID-19 has brought to the forefront the potential for microinsurance in the Bangladesh market, where over 30 percent live below the national poverty line and insurance penetration is extremely low.