CGIAR research on agricultural insurance: Past achievements and future research priorities

CGIAR research on agricultural insurance: Past achievements and future research priorities

December 23, 2021

A recent review of IFPRI's research highlights significant advancements in agricultural insurance, particularly in addressing constraints on farmers' demand and promoting gender inclusiveness. Since 2015, IFPRI has developed innovative insurance models, such as flexible contracts, picture-based insurance, and bundling insurance with credit and agricultural services, which improve upon standard index products and increase appeal for smallholders. Similarly, ILRI’s success with index-based livestock insurance demonstrates the effectiveness of working with strong partners to achieve scalable, impactful results. Nonetheless, critical knowledge gaps remain, including the need for targeted insurance strategies for different groups, the role of policies in managing catastrophic risks within broader risk frameworks, and cost-benefit analyses to optimize insurance subsidies for maximum social benefit.