The past years have seen exciting innovations around providing microinsurance to smallholders. Smallholders face major weather-related risks, and these risks are increasing in many places due to climate change. Microinsurance helps smallholders recover from damage after disaster. But microinsurance can also be employed to provide incentives to smallholders to reduce climate-related risks.
Endeva, ClimateAnalytics and Munich Climate Insurance Initiative would like to explore the potential of microinsurance for adaptation, identify others working in this space and hear about experiences with this approach. The guiding questions for the discussion will revolve around:
- What mechanisms are there to incentivize disaster risk reduction for smallholders through microinsurance?
- Where have these mechanisms been tried and what are the experiences?
- What next steps are needed to fully leverage the potential of agricultural microinsurance for disaster risk reduction?
The discussion is based upon a recent paper "Changing Climate, Changing Behavior" by Endeva and ClimateAnalytics and aims to identify opportunities for collaboration around the topic.
Please share your thoughts below!
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