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Oko's mobile-centric micro insurance protecting small farmers in developing countries from climate risks

Project description

Micro insurance protecting small farms

Smallholder farmers provide about 80 % of the food in developing countries. Sustainability is therefore a critical factor here. Still, wide-ranging climate risks continue to imperil their harvests. Crop insurance offers a solution but many farmers remain locked in poverty, unable to access such options. OKO’s InsurFarm solution provide farmers with an alternative affordable and fully automated insurance solution. Using weather prediction and automated contracts, InsurFarm’s unique insurance automatically compensates farmers located in areas struck by foul weather conditions. Farmers subscribe to this insurance via SMS and pay using any kind of mobile phone, with no bank regulators or intervention required.

Field of science

  • /social sciences/economics and business/business and management/commerce
  • /agricultural sciences/agriculture, forestry, and fisheries
  • /agricultural sciences/agriculture, forestry, and fisheries/agriculture
  • /engineering and technology/electrical engineering, electronic engineering, information engineering/information engineering/telecommunications/mobile phone
  • /social sciences/other social sciences/social sciences interdisciplinary/sustainable development

Call for proposal

H2020-SMEInst-2018-2020-1
See other projects for this call

Funding Scheme

SME-1 - SME instrument phase 1

Coordinator

OKO FINANCE LTD
Address
91 Nordau Boulevard
6249601 Tel Aviv
Israel
Activity type
Private for-profit entities (excluding Higher or Secondary Education Establishments)
EU contribution
€ 50 000