NextBillion - An Initiative of the William Davidson Institute at the University of Michigan

How can satellite technology reduce the cost and improve the quality of agricultural insurance? Join CGAP and agricultural insurance company Pula for a discussion, hosted by the World Bank’s Agrifinance Community of Practice, about our work to make area yield index insurance affordable for African farmers.

Presenters will discuss the early performance of a new algorithm that uses satellite imagery and farm-level yield data to drastically reduce the amount of crop sampling required to offer area yield index insurance products. By freeing providers from their reliance on labor-intensive measurements to determine average yields in remote areas, the algorithm stands to greatly reduce delivery costs and simplify the logistics required for rolling out agricultural insurance at scale — even in the hardest-to-reach communities.

We will present our methodology along with key partnership strategies we have used to source accurate data and validate the algorithm in Nigeria and Kenya. Client-centric on-boarding strategies used will also be discussed.