Agricultural insurances against floods risk on plantain producing communities by CIGIR / Miguel Montenegro
Please find below the
Thank you very much for your proposal to our contest. Our judges have thoroughly reviewed a large number of interesting proposals over the past weeks. While your proposals has some very interesting ideas, the judges have decided not to advance it to the next round. We hope that our feedback below helps you to further develop your idea and would like to encourage you to keep up the good work.
While useful to the development of agricultural insurance products, it is unclear how the initial studies will be translated into awareness-raising on climate risk to banana production in the target region, and how that will in turn open the new market for agricultural risk insurance. There is uncertainty on the feasibility of the proposed solutions, and the case for reducing physical risk (which is important to making insurance affordable and sustainable) is unclear.
It is also not clear what kinds of 'risk transfer' instruments are being proposed; index insurance linked to rainfall and/or payout based on proven losses? Either way the payout trigger mechanism would require further work. In addition, the proposal falls short on engaging with the 'poor & vulnerable' target group and lacks a connection to social security.
Good luck and all the best,
The contest fellows
No comments have been posted.