Risk modeling for appraising named peril index insurance products: A guide for practitioners
- Autore: Word Bank (WB)
- Anno: 2017
- Casa Editrice: WORLD BANK
AUTHORS: Mapfumo, Shadreck; Groenendaal, Huybert; Dugger, Chloe
NUMBER OF PAGES : 315 p.
ISBN/ISSN: 978-1-4648-1049-7 (ISBN)
This guide was written to introduce a wider audience of insurers to index insurance as a risk management tool for agriculture. Index insurance, which is a relatively recent innovation, has exciting potential for addressing the need for agricultural insurance in developing economies.
The main objectives of this guide are to:
Promote informed business decision making among insurance companies by providing them with effective tools for evaluating named peril index insurance business opportunities and products;
Support the improvement of named peril index insurance product offerings through structured and transparent collaboration and communication between insurers, product design teams, and policyholders;
Encourage more insurance companies to write index-based insurance policies that protect against key risks and improve access to finance among the unbanked and underbanked market in developing countries;
Improve the technical capacity of insurance companies in quantitative risk analysis of index insurance products and named peril index insurance pricing analytics; and
Encourage practices in the index insurance industry that are in the best interests of various stakeholders (insured parties, policyholders, insurers, reinsurers, and regulators) and build confidence in the products offered.
This guide was supported by the Global Index Insurance Facility.