Weather Index Insurance is a collaboration between the Syngenta Foundation, Forte Insurance, and AMK Microfinance aimed at providing agricultural insurance to farmers in Cambodia. This innovative insurance product uses predefined weather conditions as triggers for payouts. When adverse weather events like drought or excessive rainfall occur, farmers receive insurance payouts to mitigate financial losses. This initiative helps vulnerable farmers cope with climate-related risks and fluctuations in agricultural productivity.
Weather Index Insurance
Organization:
Syngenta Foundation, Forte Insurance, AMK Microfinance
Category:
Insurance
Subcategory:
Agricultural Insurance
Available at:
Rural
Channel:
Physical
Climate Resilience Approach Mapping:
Risk Recovery
Climate Impact Mapping:
Drought, Precipitation Patterns
Country / Region Input:
Southeast Asia
Sector Mapping:
Agriculture
Business Model Mapping:
Interest, API connection fees