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hindelquarrouti

CreditEase Fintech Investment Fund Announces New Investments in Global Growth-Stage Fin... - 3 views

www.prnewswire.com/...ntech-companies-300424713.html

Insurance Natural Disasters Worldcover

shared by hindelquarrouti on 12 Feb 21 - No Cached
  • Founded in January 2015, WorldCover is a US-based insurance technology company that uses a peer-to-peer model to provide farmers in developing worlds with crop insurance against natural disasters and provides investors with diversified returns from the non-traditional financial markets.
  • hindelquarrouti on 13 Feb 21
     
    Worldcover, an insurance company, uses the peer-to-peer model in order to connect farmers and investors, and in order to give farmers in developing countries crop insurances agains natural disasters.
aminej

About Us | WorldCover Insurance - 0 views

www.worldcovr.com/about-us

Insurance Online Technology Rural Farmer Agriculture Fintech Ghana

shared by aminej on 11 Feb 21 - No Cached
  • We believe we can bring parametric insurance to the worldBuilding our product from the ground up, five years ago we started by selling simple weather insurance to smallholder farmers in Africa via agents and in-person marketing - selling over 30,000 policies direct to farmers. Since those days, we have incorporated digital marketing, scaled our technology and sold our policies to customers around the world.We want to help high value crop growers manage their financial risk to climate change, unpredictable weather and natural disasters.WorldCover’s product vision is for commercial farmers to experience parametric insurance in a way that is easy to understand (simple), engenders trust (transparent), and fits them well at any size (tailored).
    • aminej
      aminej on 11 Feb 21
       
      This is a very good product for farmers who suffer from losses due to natural disasters or weather issues and also from regulations on agricultural products. It is important to help this category of people because their job is extremely important and hard sometimes. It is also a good way to show them that they can be protected.
kenzabenessalah

Lumkani - 0 views

lumkani.com

Lumkani Protection Fire Alarm

shared by kenzabenessalah on 07 Feb 21 - No Cached
  • As part of Lumkani’s mission to mitigate the loss of life and property caused by fires in South Africa and across the globe, we implement large scale roll-outs of our fire detection system into urban informal settlements and townships.
    • kenzabenessalah
      kenzabenessalah on 07 Feb 21
       
      Before Lumkani was introduced, there was very little hope for people to rebuild their houses when fire erupted. Making this business known could help save plenty of lives.
    • kenzabenessalah
      kenzabenessalah on 12 Feb 21
       
      Before Lumkani was introduced, there was very little hope for people to rebuild their houses when fire erupted. Making this business known could help save plenty of lives.
  • Before Lumkani introduced Fire Cover in 2016, there was little hope for households and businesses that had been excluded from insurance cover, to quickly rebuild, refurnish and return to a state of dignity.
    • kenzabenessalah
      kenzabenessalah on 07 Feb 21
       
      This excerpt is important because it highlights how beneficial and essential the concept of the company is. It helped protect people's homes and reassure them that their households would return to their original state.
  • For only R60 per month, you get: A Lumkani Fire Alarm that warns you when fire breaks out. Cover for your home or business structure and all of your belongings/stock for up to R40,000 provided by Hollard. There is no waiting period, you are protected immediately after your first payment.Foreign Nationals may apply.No documentation required to apply..properties we protect: Informal homes Small homes and low-cost homes (RDPs) Small businesses
    • tahaemsd
      tahaemsd on 07 Feb 21
       
      Details of what is covered by the LUMKANI company
  • ...2 more annotations...
  • Lumkani is a technology company which distributes insurance products to financially excluded households and businesses in townships and informal settlements. We use our award-winning fire detectors to mitigate the risk of fires and a world-first insurance product to cover losses when disasters occur. We have distributed tens of thousands of fire alarms to homes across South Africa which have drastically lowered the instances of fires in our communities, ensuring that those who are most vulnerable have a sense of security. Tens of millions of Rands of possible fire damage have been saved through our early-warning fire detectors.
    • aminej
      aminej on 11 Feb 21
       
      I think that this is an excellent idea since it will help many people in rural areas who very often suffer from losses due to weather or natural disasters and also a very weak infrastructure. It will also bring more unbanked people to learn about different services of insurance and finance.
  • Fires destroy homes, belongings and businesses which leads to personal and financial insecurity. We provide protection against fires to informal homes, small homes, RDPs and small businesses
    • kenzabenessalah
      kenzabenessalah on 12 Feb 21
       
      Having such a concept is essential to the community because it deals with one of most popular issues in the world; financial insecurity
  • hibaerrai on 08 Feb 21
     
    LUMKANI launched indeed a networked heat detector to protect people's properties.
mohammed_ab

The Complex Insurance Coverage Reporter - September 2020 - The Complex Insurance Covera... - 0 views

coveragereporter.com/verage-reporter-september-2020

Micro Insurance WorldCover Africa Crop Farmers

shared by mohammed_ab on 11 Feb 21 - No Cached
  • Over the last decade, there has been a global increase in the focus on climate change and the risks and dangers associated with it. And for good reason. Damage from climate-related disasters was in the billions of dollars in 2019 alone. California wildfires caused $25 billion in property damage, while Typhoon Hagibis in Japan cost an estimated $15 billion. Other extreme weather events, including rampant brush fires in Australia, widespread droughts in East Africa and severe flooding in South Asia, have had devastating consequences.
  • Like Kin, NYC-based WorldCover was created in response to climate-related disasters. It works to provide drought insurance to farmers in Africa. When first launched, WorldCover was available only in Ghana and covered only one crop: maize. Since then, the company has expanded to multiple markets in East and West Africa, covering four categories of crops: cereals, legumes, root vegetables and perennials. WorldCover uses a combination of satellite imagery and on-the-ground sensors to understand local weather patterns in order to create insurance options for farmers facing some of the world’s worst droughts. The company uses its satellites to monitor rainfall patterns and trigger payouts immediately.
  • mohammed_ab on 11 Feb 21
     
    I think that the testing phase of WorldCover was very smart. World Cover started offering micro-insurance for only one type of crop which is maize. After a great success with this type of crop, the company started to broaden its coverage to other types of crops and to other markets like East and West Africa. The company uses machine learning and satellite imagery to analyze the weather and the land of the farmers which in my opinion helps the company in being very accurate and efficient.
hindelquarrouti

World Bank Document - 1 views

openknowledge.worldbank.org/...tion-in-Financial-Services.pdf

WorldCover Financial Risk Climate change

shared by hindelquarrouti on 10 Feb 21 - No Cached
  • hindelquarrouti on 10 Feb 21
     
    Thanks to the help of artificial intelligence, WorldCover tries to manage the financial risks that are related to changes in the climate. As well as, it helps mane the risks related to unpredictable natural disasters.
aminej

About - Pula - 0 views

www.pula-advisors.com/about

Farmers Agriculture Africa Fintech Mobile Service Online Protection

shared by aminej on 12 Feb 21 - No Cached
  • Farmers in emerging markets face challenges with low productivity. Due to the risks they face from ongoing climate change, pests and diseases, farmers struggle to find financial stability. Pula is at the center of an ecosystem that helps them manage their risks with insurance and digital solutions.
    • aminej
      aminej on 12 Feb 21
       
      PULA offers insurance to farmers who are in difficult positions and who suffer from different type of risks such as climate change and natural disasters. It is good for small holder farmers since they will be more protected against losses.
mohammed_ab

Kenyan insurtech startup Pula raises $6M Series A to derisk smallholder farmers across ... - 1 views

techcrunch.com/...-series-a-led-by-tlcom-capital

Pula Insurtech Micro Insurance Africa

shared by mohammed_ab on 10 Feb 21 - No Cached
  • Another startup is Apollo Agriculture which raised $6 million Series A, akin to Pula. Not only did the pair raise the same round, Apollo Agriculture and Pula both deal with providing financial resources to smallholder farmers.
    • nourserghini
      nourserghini on 10 Feb 21
       
      Apollo Agriculture is another rival in the industry that is also considered as a partner and complement in the industry.
  • Pula is solving this problem by using technology and data. Through its Area Yield Index Insurance product, the insurtech startup leverages machine learning, crop-cut experiments and data points relating to weather patterns and farmer losses, to build products that cater to various risks.But getting farmers on board has never been easy, Goslinga told TechCrunch. According to her, Pula has understood not to sell insurance directly to small-scale farmers, because they can suffer from optimism bias. “Some think a climate disaster wouldn’t hit their farms for a particular season; hence, they don’t ask for insurance initially. But if they witness any of these climate risks during the season, they would want to get insurance, which is counterproductive to Pula,” said the founder in a phone call.
  • Pula, a Kenyan insurtech startup that specialises in digital and agricultural insurance to derisk millions of smallholder farmers across Africa, has closed a Series A investment of $6 million.The round was led by Pan-African early-stage venture capital firm, TLcom Capital, with participation from nonprofit Women’s World Banking. The raise comes after Pula closed $1 million in seed investment from Rocher Participations with support from Accion Venture Lab, Omidyar Network and several angel investors in 2018.
    • aminej
      aminej on 12 Feb 21
       
      Pula has managed to raise over 6 million $ which is good for them since they will be able to help more farmers get insurance on their products. Keeping in mind that Agricultural insurance costs 4$ in Africa compared to other places where it costs at least 1000$
  • ...1 more annotation...
  • Agriculture insurance has traditionally relied on farm business. In the U.S. or Europe with typically large farms, an average insurance premium is $1,000. But in Africa, where smallholding or small-scale farms are the norm, the number stands at an average of $4.It is particularly telling that the value of agricultural insurance premiums in Africa represents less than 1% of the world’s total when the continent has 17% of the world’s arable land. 
  • hichamachir on 12 Feb 21
     
    Pula studies the risks that they might find with small scale farmers. I like this kind of behavior because you need to study every possible problem so you can outcome it the best way possible.
  • mohammed_ab on 13 Feb 21
     
    What got my attention in this article is the disparity in insurance prices (premiums) between European and African countries. We see that the premiums for insurance for African farmers are only 1% the price of insurance for European farmers. This shows the big difference in purchasing power between African and European countries.
nourserghini

BiSmart - 0 views

bismart.co.ke

Bismart Insurtech services

shared by nourserghini on 12 Feb 21 - No Cached
  • Bismart Insurance enables the uninsured African population to access Insurance through co-creating relevant products with existing affinity groups like saccos, schools, welfare groups, Micro-finance institutions etc and connecting them to insurance companies through technology. 
    • tahaemsd
      tahaemsd on 12 Feb 21
       
      customers are able to review and rate their insurance providers based on their experience
  • Bismart Insurance enables the uninsured African population to access Insurance through co-creating relevant products with existing affinity groups like saccos, schools, welfare groups, Micro-finance institutions etc and connecting them to insurance companies through technology.  At Bismart platform customers are able to reveiw and rate their insurance providers based on their experience, this forces insurance players to compete in giving our customers the best customer experience.
    • aminej
      aminej on 12 Feb 21
       
      I love this concept because it will help many Africans to be protected against different types of risks such as natural disaster, theft, weather conditions. It will also reduce the number of unbanked people across the African continent
  • At Bismart platform customers are able to reveiw and rate their insurance providers based on their experience, this forces insurance players to compete in giving our customers the best customer experience.We enable customers to compare insurance policies from muiltiple providers not just based on price but based on benefits, exclusions and other customers reviews.
    • nourserghini
      nourserghini on 13 Feb 21
       
      Bismart allows customers to compare their insurance providers' services based on price, benefits, exclusions and reviews.
tahaemsd

Lumkani: The little blue box that saves lives - CNN - 0 views

edition.cnn.com/...index.html

FinTech Africa Service modernization protection

shared by tahaemsd on 13 Feb 21 - No Cached
  • Funded through a government innovation agency and a successful crowdsourcing campaign, the start-up has also won several awards and grants, including best start-up in 2014's Global Innovation through Science & Technology competition.Last year, it was chosen by the International Red Cross as a provider for its Fire Sensors initiative, a project that has distributed 900 of the devices along with extensive market research.Julie Arrighi, Innovation Advisor at the American Red Cross, said that using networked heat sensors like Lumkani is crucial to mitigating the growing risk of slum fires around the world.
    • kenza_abdelhaq
      kenza_abdelhaq on 13 Feb 21
       
      Lumkani's technology prevented many disasters and was successful at raising funds through government innovation agency and crowdsourcing campaign. The innovative aspect and importance of the technology received many recognitions and awards.
  • Lumkani devices are networked to each other using radio frequency, the same technology used in garage remotes. When a fire is detected, the alarm sounds in all homes within a 40 meter radius, using a different tone to signify to users when the blaze is in a separate dwelling.
    • tahaemsd
      tahaemsd on 13 Feb 21
       
      Technology used by Lumkani, the same used in garage remotes.
  • kenza_abdelhaq on 13 Feb 21
     
    "Funded through a government innovation agency and a successful crowdsourcing campaign, the start-up has also won several awards and grants, including best start-up in 2014's Global Innovation through Science & Technology competition. Last year, it was chosen by the International Red Cross as a provider for its Fire Sensors initiative, a project that has distributed 900 of the devices along with extensive market research. Julie Arrighi, Innovation Advisor at the American Red Cross, said that using networked heat sensors like Lumkani is crucial to mitigating the growing risk of slum fires around the world."
tahaemsd

WorldCover - Current Openings - 0 views

apply.workable.com/worldcover

FinTech Africa Service modernization protection

shared by tahaemsd on 13 Feb 21 - No Cached
  • WorldCover sells crop insurance to farmers in the developing world, starting with Ghana. We use remote sensing and data science to create a simple and affordable insurance product to protect farmers from drought. Our insurance policies are funded by investors through a marketplace model so we don’t directly take risk for payouts.
    • tahaemsd
      tahaemsd on 13 Feb 21
       
      worldcover mission is to help families and small businesses and manage risk from natural disasters
tahaemsd

Insurtech startup to provide affordable insurance for farmers | Fraud & Cybersecurity |... - 0 views

www.fintechmagazine.com/...e-affordable-insurance-farmers

FinTech Africa Service modernization climate change

shared by tahaemsd on 12 Feb 21 - No Cached
  • Across the globe, smallholder farmers lose between $50 billion and $100 billion annually, often from natural disasters, but reportedly only 1% is insured from these accidents. As an example, in Feburary 2019, the company made several payouts to farmers in Kenya as poor rainfall caused large amount of crop failure.
  • Jason Schapiro, WorldCover Lead Engineer, said “Our algorithms are specifically calibrated to rainfall events by region and crop type, automatically triggering instant payouts to insured farmers through mobile money services like M-Pesa.”
  • World Cover is an insurtech startup which provides satellite-enabled climate insurance to smallholder farmers. The company was originally founded in 2015 as a fintech marketplace for climate insurance, and has consistently grown since then, providing support to many areas of Africa. Unlike traditional insurance companies, which require lengthy in-person evaluations, the company consolidates data on weather and crop yield obtained from satellites
    • tahaemsd
      tahaemsd on 13 Feb 21
       
      WorldCover startup has continued to expand its services across AFRICA
  • mohammed_ab on 12 Feb 21
     
    We can understand from the article, that there is a big market for fintech insurance companies. According to the article, farmers around the world lose between $50 billion to $100 billion just because of climate change. World Cover has seen that there is a great potential for growth in this industry and took the opportunity.
tahaemsd

An alternative investment with WorldCover - 1 views

www.seedstars.com/...ernative-investment-worldcover

FinTech Africa Service modernization climate change

shared by tahaemsd on 11 Feb 21 - No Cached
  • The product of WorldCover is certainly customer centric at its core. When initially launching, Chris went to Ghana and began speaking to the farmers there. To him, it was important they didn’t “sit around and design a product by committee,” but instead that they actually went and understood what the customer problems were.“I would ask a farmer, what’s your biggest problem today? What are you worried about today? Just a very general question, and they would say I’m worried that the rain won’t come. I’m worried that my crop will fail and there will be drought this year.” — Chris Sheehan, CEO WorldCover
    • mohammed_ab
      mohammed_ab on 11 Feb 21
       
      WorldCover service offering is customer centric. It's interesting to see that the founder, Chris Sheehan, actually visited many farmers to clearly understand their problems in order to create a solution that fits perfectly their needs. The majority of these farmers were afraid of weather uncertainty which affects their crop. Being a financial nerd, Chris Sheehan saw the opportunity of providing a financial product ( parametric insurance) and created one of the greatest fintech companies.
  • WorldCover is a socially conscious alternative to traditional investment avenues. Started in 2015 by Chris Sheehan and Shiliang Tang, they have focused on using finance as a “tool for good in the world,” to prove “that businesses with inherently positive social impact can also grow rapidly and create wealth for investors.”
    • tahaemsd
      tahaemsd on 13 Feb 21
       
      Worldcover protects farmers from natural disasters, while giving investors diversified returns and direct social impact
  • samielbaqqali on 11 Feb 21
     
    In order to make the right decisions, the CEOS must meet with cutsomers in order to understand their problems.
tahaemsd

worldcover - Blog - EchoVC Partners - 0 views

www.echovc.com/...worldcover

FinTech Africa Service modernization climate change

shared by tahaemsd on 13 Feb 21 - No Cached
  • tact Us
  • WorldCover was founded to address the last-mile transfer of these kinds of risk by powering a climate risk marketplace initially targeted at the ag sector. In emerging markets (starting with SSA), WorldCover connects farmers (and ag parties exposed to climatic risks) with climate risk investors. Through its risk transfer platform, the company offers farmers protection against natural disasters and phenomena that negatively affect their crop yields, while giving risk investors the desired diversification of their risk portfolios and offering uncorrelated investment returns. For the farmers, insurance cover provided through WorldCover safeguards their livelihoods and, as studies have shown, gives farmers the confidence to further invest in their farms, unlocks access to credit and other services, and ultimately produces more income for them and their community.
    • tahaemsd
      tahaemsd on 13 Feb 21
       
      Worldcover platform is flexible yet robust and can be used all over the world for a wide variety of natural phenomen that threaten agricultural yields
  • tahaemsd on 13 Feb 21
     
    "TACT US"
hindelquarrouti

WorldCover CropAssure | WorldCover Insurance - 4 views

www.worldcovr.com/...cropassure

Worldcover Weather risk fintechs

shared by hindelquarrouti on 12 Feb 21 - No Cached
  • CropAssure has been developed by our team of agronomists to protect against weather events most detrimental to almond growth, specific to your region. We will pair you with a member of our agronomic team to develop an insurance product that fits your needs and your budget.
    • aminej
      aminej on 12 Feb 21
       
      It is good to see that they are putting an important focus on the local production of almonds. Since it is a product specific to this region, it is necessary to keep it protected against natural disasters or weather conditions.
  • easily understandable policies that will protect you against the risks completely out of your control - unpredictable weather.
  • protect against weather events most detrimental to almond growth, specific to your region
  • hindelquarrouti on 13 Feb 21
     
    Worldcover is a fintech company that helps even small farmers hedge the risks that are related to unpredictable events, like climate change, that are beyond their power. It provides them with the right kind of insurance depending on their region and it uses AI in order to be more precise in doing so.
ghtazi

Home | WorldCover Insurance - 0 views

www.worldcovr.com

WorldCover weather CropAssure Insurance

shared by ghtazi on 08 Feb 21 - No Cached
  • Tailored Insurance For Almond FarmersWe have applied our argonomic modeling expertise to develop a specialty product focused on protecting almond growers against increasingly unpredictable weather patterns. Either as an alternative or supplement to your existing insurance, CropAssure Almond provides easy to understand policies, and pays out automatically when your covered risks occur.
    • ghtazi
      ghtazi on 08 Feb 21
       
      in this article, it shows that the company wants to help high-value crop growers manage their financial risk to climate change, unpredictable weather, and natural disasters. WorldCover's product vision is for commercial farmers to experience parametric insurance in a way that is easy to understand (simple), engenders trust (transparent), and fits them well at any size (tailored).
hindelquarrouti

Multi-banks interoperable and agent network sharing mobile money go live in Ethiopia - 1 views

innov8tiv.com/-mobile-money-go-live-ethiopia

Belcash Financial Inclusion Provides-Banks

shared by hindelquarrouti on 11 Feb 21 - No Cached
  • CEO of BelCash International, Mr. Mountaga Vince Diop mentioned that this is only the beginning of what seems to be an irreversible step to reinforce Financial Inclusion in the country.
  • BelCash Technology Solutions PLC provides the Banks and the Micro Finances, Go-to-Market turn-key mobile money solutions (including capacity building, business and operational models, hardware, disaster recovery and Call center facilities) and facilitate the penetration of Mobile and Agent Banking in the Ethiopian Financial landscape.
  • hindelquarrouti on 12 Feb 21
     
    Belcash is an Ethiopian technology service that provides the financial industry. The company claims that this is only the first step toward financial inclusion.
tahaemsd

WorldCover Raises $6 Million in Series A Funding to Provide Climate Insurance in Emergi... - 0 views

www.businessghana.com/...-Insurance-in-Emerging-Markets

FinTech Africa Service modernization climate change

shared by tahaemsd on 13 Feb 21 - No Cached
  • WorldCover has uniquely combined technological advances and developed a solution that allows us to support smallholder farmers caught in conditions that are worsening due to climate change," said Christopher Sheehan, WorldCover CEO and co-founder. “With the rise of many insuretech startups around the world, we are excited about this successful round of Series A funding as it enables us to accelerate growth in existing markets while working towards expansion into new regions. This will allow us to fulfill our ultimate vision of making the world more resilient to climate change”.
    • tahaemsd
      tahaemsd on 13 Feb 21
       
      worldcover is addressing the 50-100$ Billion in annual losses from natural disasters, of wich less than 1% is insured
chaimaa-rachid

'Smart' insurance helps poor farmers to cut risk, Radboud Vlaar - 0 views

news.finchcapital.com/...helps-poor-farmers-to-cut-risk

insurance blockchain farmers

shared by chaimaa-rachid on 13 Feb 21 - No Cached
  • Drought spells disaster for many farmers in the developing world as most lack crop insurance. No rain means no income, no food and not enough resources to replant the next year.
  • chaimaa-rachid on 13 Feb 21
     
    This article features the fundamental advantages of blockchain innovation in the insurance industry. Besides, it shows how blockchain has empowered simple and speedy exchanges to occur in the protection world particularly crop insurrance.
tahaemsd

The Purposeful For-Profits, Brooks Gibbins - 0 views

news.fintech.io/...the-purposeful-for-profits

FinTech Africa Service modernization climate change

shared by tahaemsd on 13 Feb 21 - No Cached
  • WorldCover, is a for-profit company that aspires to provide the 90% of smallholder famers around the world with access to crop insurance.  In countries like Ghana, there is no social safety net.  Every farmer is one natural disaster away from ruin.
    • tahaemsd
      tahaemsd on 13 Feb 21
       
      Worldcover provides a transformative safety net using satellites to monitor the rainfall and trigger payouts automatically
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