Iterating for climate resilience: Designing digitally-enabled agriculture insurance that works for smallholder farmers in Zimbabwe
As climate change intensifies, the frequency of extreme weather events, including drought and flooding, these smallholder farmers will struggle to maintain production, along with the systematic lack of adequate access to inputs, services, markets, and financial services.
Agriculture insurance, the global market for which is estimated at , plays a key role in helping farmers mitigate risk and adapt to climate change. 30 billion USD plays a key role in helping farmers mitigate risk and adapt to climate change.
Yet, agriculture insurance has historically been too expensive to cover smallholder farmers, despite the significant risk that they face. This is starting to change, as new technologies have paved the way for index-based insurance.
By drastically reducing the cost of insurance, index-based insurance offers hope for smallholder farmers who are searching for new ways to mitigate and share the risk so that they can continue farming in the face of climate change.