IBISA has recently secured $3 million in funding from a consortium of prominent investors, including The Acumen Resilient Agriculture Fund (ARAF), Equator, Asian Development Bank Ventures (ADBV), and Ankur Capital.
As a leading Climate InsurTech company, IBISA is on a mission to empower stakeholders across the agricultural sector with its innovative geometric insurance solutions.
The devastating impact of extreme weather events on agriculture is a global concern. From scorching droughts to relentless typhoons, these events disrupt entire value chains, leaving farmers vulnerable and jeopardising food security.
Fresh Funds Fuel Growth
This vital injection of capital will fuel IBISA’s ambitious plans to:
- Develop cutting-edge insurance products: IBISA is committed to continuous product innovation. The new funds will allow them to create solutions that are even more tailored to the evolving needs of the market.
- Expand into new markets: The funding will also propel IBISA’s expansion into emerging markets across Asia and Africa, enabling them to reach more vulnerable farmers and strengthen agricultural resilience on a global scale.
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Beyond Financial Security: A Multi-Stakeholder Approach
IBISA’s parametric insurance solutions are designed to benefit a wide range of stakeholders within the agricultural ecosystem, including:
- Agritechs: Secure supply chains, minimise risks associated with entering new markets, and generate additional revenue streams through value-added services.
- Food & Beverage and Ingredient Companies: Protect supply chains, enhance sustainability initiatives, and build stronger relationships with farmers.
- Input providers: Offer farmers greater security and improve customer retention by mitigating weather risks.
- Insurance & Reinsurance Companies: Streamline satellite data management, accelerate product development, and offer tailor-made risk modelling solutions.
- Governments and Development Agencies: Facilitate financial resilience among farmers for efficient programme implementation and rapid scaling of initiatives across new regions.
- Financial institutions: Enhance loan offerings by providing credit guarantees and mitigating default risks associated with weather events. This allows for increased loan portfolios and more competitive loan pricing.
- Farmer Cooperatives & Farmers: Boost liquidity, gain access to better credit options, and build trust within the agricultural sector.
- The Dairy Industry: Foster stronger relationships with dairy farmers, safeguard supply chains, and enhance their resilience against climate shocks.
IBISA’s Winning Edge
IBISA’s parametric insurance solutions go beyond simply offering financial protection. Here’s what sets them apart:
- Cost-Effectiveness: IBISA’s solutions are designed to be affordable and accessible, ensuring maximum reach and impact.
- Faster Payouts: Farmers receive prompt payouts within 10 days of a weather event, minimising financial hardship and allowing for quicker recovery.
- No Manual Claims Filing: The automated, satellite-based system eliminates the need for lengthy and cumbersome claim filing processes.
- Tailor-Made Products: IBISA offers customisable solutions to address the specific needs of each client and region.
- Seamless Onboarding: Custom onboarding applications simplify the process for policyholders and enable easy integration via APIs.
- Efficient Policy Management: IBISA’s platform facilitates policy management and streamlines claim processing.
- Enhanced Transparency: A multi-level platform provides stakeholders with clear visibility into the insurance process.
- Risk Modelling Tools and Dashboards: Educational tools empower farmers to understand the insurance products and the risks they cover.
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Building Resilience Beyond Borders
IBISA’s commitment to scalability has already seen them implement successful projects across four continents – from the Philippines and India to New Zealand, Guatemala, and West Africa.
IBISA’s innovative solutions not only shield farmers from climate shocks but also contribute to five of the UN Sustainable Development Goals (SDGs) outlined by the UNDP.
If you’re looking for a way to protect your agricultural operations from climate risks, or simply want to understand your climate risk exposure in a specific region, IBISA has the answers you need. Visit their website to explore their solutions and discover how they can help you build a more resilient future.