WORKSHOP ON INDEX INSURANCE – AN INNOVATIVE AGRICULTURAL MANAGEMENT TOOL
Programme Highlight
Index-based insurance is a different kind of insurance that has the potential to create opportunities for farmers to access finance and better farm inputs that can help protect their livelihoods after sub-optimal growing seasons. This type of insurance operates in a system that includes government and the private sector, local insurance companies and international reinsurers, banks and agricultural value chains. Understanding the interrelations between the system elements is essential to ensure development, farmer acceptance, and sustainable growth over time.
Key learning Objectives
At the end of the course, participants will be able to:
1. Understand the concept of index-based insurance and its role as an agricultural risk management tool, as well as its limitations 2. Know the requirements to develop and sell index-based agricultural insurance products 3. Understand the requirements for data, and the connection between data, the insurance product, and the insurance premium 4. Discuss successful distribution models for index-based insurance products 5. Understand pricing, the need for reinsurance and how reinsurers can help designing better products 6. Understand the importance of claims management for providing better value to clients 7. Understand the role of technology in optimizing index insurance processes and overcoming challenges linked to index insurance provision 8. Understand the typical roles of government, the private sector, and the farming communities and the importance of partnerships
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Key Course Contents
Day 1 • Index Insurance Overview • Data requirements and the various kinds and sources of data • Distribution of index insurance products • Pricing and implications of reinsurance
Day 2 • Claims management in index insurance • How can use of technology make index insurance more efficient • Role for government and regulators
Learning Methodolgies & Time Allocated • Lecture & presentation – 35% • Case study – 30% • Group and individual activities – 35%
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Who Should Attend
Insurance practitioners who would like to offer agriculture insurance; those who have existing agriculture insurance program but would like to learn about index or parametric insurance; and distribution channels who are involved in agriculture insurance. The secondary audience includes reinsurers, value chain actors, regulators, and other stakeholders who play a key role in index insurance programs. All functions in an insurance company can benefit from the programme
Fees
Category |
Local Fee (RM) |
International Fee (USD) |
Non-Member (1-2 Pax) |
1764 |
550 |
Group (Non Member) |
1679 |
530 |
Group (Member) |
1524 |
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Member |
1604 |
- |
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