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Global Index Insurance Facility Newsletter
August 2015
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Spotlight : Sri Lanka

 
Accessing Product Quality in Sri Lanka: A Recap of GIIF’s Peer Exchange

Having many Sri Lankan friends in my home country of Australia, I have always wanted to visit Sri Lanka.  The image of beautiful green tea plantations comes to mind, and perhaps rightfully so.  This May, I had the opportunity to visit and understand more about Sri Lanka's index insurance market through the Index Insurance Forum (link is external) – a community of practitioners working toward market development and scalability in Index Insurance. Read full blog here.
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Lending Stability to the Farming Structure in Sri Lanka

For eight years, Chandrasiri Vanasunder, a small-holder famer in the Ratnapura district of Sri Lanka, bore the losses caused by drought and excess-rainfall on his two-acre teaestate. But all that began to change in 2012, when a sales representative from Sanasa told him about ‘index-based insurance’ for tea plants. Read full story here
 

Peer Learning 2015: Client Value Assessment of SANASA’s Index Insurance Product

Hosted by SANASA Insurance Co. Ltd (SANASA), one of the implementing partners of the Global Index Insurance Facility (GIIF), the main goal of the peer exchange was to analyze the client value proposition of SANASA’s index insurance product. The objectives were to identify strengths and weaknesses of the product under the dimensions of product, access, cost, and experience, and then to identify product improvements. Read full story here
 

Learn more about the Global Index Insurance Facility's (GIIF) work in Sri Lanka
Learn more about GIIF operations in collaboration with Sanasa Insurance Company

In Focus: UN Insurance Forum

Secretary-General addresses the UN Insurance Sector Summit. UN Photo/Eskinder Debebe


Ban Ki Moon Urges the Insurance Industry to Lead the Shaping of a Sustainable Future: A Recap


By Martin Hintz, Allianz SE

Recently, the United Nations’ Secretary General, - Ban Ki-moon, welcomed over 200 insurance representatives at the United Nations (UN) headquarters in New York for the June 17th UN Insurance Forum. During his inspiring speech, Ban Ki-moon remarked that this was the first time that a UN Secretary General has ever met a congregation of global insurance leaders. He stressed that this was by no means a chance encounter and called upon the insurance industry to play a strong role in the quest for a more sustainable post-2015 world. Read full blog here.



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What's New

Global Index Insurance Conference: Register Now!


This conference is organized by the World Bank Group's Global Index Insurance Facility (GIIF), in collaboration with AXA Corporate Solutions, Airbus, Swiss Re Corporate Solutions and Pacifica. Knowledge partners for this event include Geneva Association, Grameen Credit Agricole Microfinance Foundation, and the Impact Insurance Facility of the International Labor Organization. CLICK HERE TO REGISTER NOW. 


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Featured Webinars
 


The Present and Future of Inclusive Insurance


What happens when a major national development organization – GIZ and a leading private insurer – Allianz SE get together to build innovation in micro-insurance? Experts presented key insights on micro-insurance with a larger view on how these lessons learned can be applied to other inclusive insurance projects and to various other sectors.

The 60-minute session showcased case-studies ranging from how GIZ has assisted Allianz in turning a corporate responsibility charitable micro-insurance story into a fully-fledged and profitable micro-insurance business operation to how The World Bank Group’s is working to transform the field of innovative insurance. Watch full webinar here.

 
Thursday, August 27, 2015 9:00:00 AM EDT - 10:15:00 AM EDT

The World Bank Group's Global Index Insurance Facility, the USAID and BASIS/I4-sponsored Global Action Network (GAN), and the ILO's Impact Insurance Facility are organizing a webinar to look into the question "How can index insurance be bundled with other financial and non-financial services". Speakers from global organizations will share experiences and discuss which services are most aligned for bundling, explore mechanisms for operationalizing these services and examine related issues such as partnerships. The webinar will also look into the possible impact of bundling on pricing and off-take of index insurance and measures of tracking it.

Register now and join us for the webinar on Thursday August 27. The webinar will take place from 15:00 to 16:15 (CEST). (To know what time this is in your location, you can use the time converter at http://www.timeanddate.com/worldclock/converter.html).

 
 

Upcoming Events

  • Global Index Insurance Forum 2015
    Date:
    Sept 14-15, 2015
    Location: Paris, France
    Description: The World Bank Group's commitment to enable mainstream product lines using index-based insurance frameworks is being taken forward through a marquee event that will bring together top global practitioners from the field of insurance, including private insurers, government and development institutions.
    More Details
  • Index Insurance, Risk Sharing & Challenges
    Date:
    Sept 16, 2015
    Location: Paris, France
    Description: The research event is organized by Pacifica and Airbus in collaboration with the World Bank Group's Finance and Markets global practice. The event will bring together cutting-edge research on data management and design of index insurance products.The goal of the event is to advance our understanding and knowledge, and to aid innovation and scaling up of agriculture insurance. The workshop style event will be led by academic experts from across the globe. The event will be divided into 2 main sessions – 1) Economic Challenges, 2) Technical Perspectives.
    More Details
  • The Understanding Risk & Finance Conference
    Date: Nov 17-19, 2015
    Location: Addis Ababa, Ethiopia
    Description: The conference will serve as a launch of the Africa Disaster Risk Financing initiative, managed by the World Bank Group and the Global Facility for Disaster Reduction and Recovery. The initiative is a capacity-building program designed to help African countries make informed decisions, improve financial response capacity post disaster and mitigate the socio-economic, fiscal and financial impacts of disasters.
    More Details
 

Our Donors


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GIIF is funded by the European Union, Japan and the Netherlands.

The EU is the primary donor partner to the GIIF Trust Fund with a focus on the African, Caribbean and Pacific Group of States (ACP). The governments of Japan and the Netherlands are providing additional support to different regions/countries where World Bank Group operates.
The Global Index Insurance Facility (GIIF) is a multi-donor trust fund supporting the development and growth of local markets for weather and disaster index-based insurance in developing countries, primarily Sub-Saharan Africa, Latin America and the Caribbean and Asia Pacific.
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