Abstract
With disaster losses now topping $2.3 trillion a year, the poorest and most climate vulnerable pay the highest price, facing not just the immediate impacts but also long-term setbacks to their lives and livelihoods, this is when a rapid insurance payout can make a real difference. GAR 2025 highlights how accessible, pro-poor insurance, especially when linked to people’s economic activity, can help break this cycle.
Practical Action developed an innovative parametric insurance pilot (Index Based Flood Insurance (IBFI) project) in Nepal to provide financial protection to paddy rice farmers facing monsoon season flood hazards. Swiss Re Foundation partnered with 60 Decibels to evaluate and report on the impact of the insurance product, and obtain learnings for planned expansion.
The evaluation report aims to provide Practical Action with an in depth understanding of the farmers accessing the IBFI, their profile, the outcomes they have experienced and how satisfied they are. The study provides insights into how to improve the IBFI to deliver impacts and enhance benefits. The insights are based on phone interviews with 275 local farmers, with 57% of the interviewees being female. All interviewees are farming in the project site in the lower Karnali River basin in Nepal. The interviews were conducted by 60 Decibels trained researchers and the survey employed a random sampling method to select the farmers interviewed.
Further information
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| Issue date | 2024-11 |