IBISA, a Luxembourg-based insurtech startup, recently secured $3 million in funding, led by the Acumen Resilient Agriculture Fund (ARAF) and Equator.

Climate change is wreaking havoc on global agriculture, with extreme weather events causing billions of dollars in losses every year. This is where IBISA NETWORK steps in offering a lifeline to farmers and other agricultural stakeholders through innovative parametric insurance solutions.

This strategic investment is a testament to IBISA’s innovative approach and their commitment to building a more climate-resilient agricultural sector. Existing investors like Ankur Capital have also joined the fold, solidifying their belief in IBISA’s mission.

Who Benefits from IBISA’s Solutions?

IBISA’s reach extends beyond farmers, encompassing the entire agricultural value chain. Here’s how different stakeholders benefit:

Agritechs: Secure supply chains, scale in new markets, and generate additional revenue streams.
F&B & Ingredient Companies: safeguard supply chain management and implement impactful sustainability projects.
Input Companies: Offer better assurance to farmers, improve customer retention, and strengthen market positioning.
Insurance & Reinsurance Companies: Streamline satellite data management and expedite new product development.
Government & Development Agencies: Facilitate financial resilience for farmers through efficient programme implementation and rapid scaling.
Financial Institutions: Provide credit guarantees alongside loans, mitigate default risks due to weather events, and expand loan portfolios with better pricing.
Farmer Cooperatives & Farmers: Access increased liquidity, secure better credit options, and build trust within the agricultural ecosystem.
Dairy Industry: Establish stronger relationships with farmers, safeguard supply chains, and build resilience among dairy farmers.

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IBISA’s Game-Changing Approach

IBISA’s core strength lies in its index-based insurance solutions, designed to address specific climate risks like excess rainfall, cyclones, droughts, and extreme temperatures.

Here’s what sets IBISA apart:

Cost-effective: Affordable insurance plans make protection accessible to a wider range of stakeholders.
Faster Payouts: Automated claims processing ensures swift payouts within 10 days of a weather event.
No Manual Claims Filing: Eliminate claim filing challenges with automated triggering based on satellite data analysis.
Tailor-made Solutions: Cater to specific needs with customisable insurance products.
Seamless Onboarding: User-friendly onboarding applications and APIs simplify policyholder integration.
Transparent Management: A multi-level platform provides clear visibility into the insurance process.
Risk Modelling Tools: leverage these tools to understand and explain insurance products effectively.

A Global Reach with a Social Impact

The scalability and effectiveness of IBISA’s solutions have already made a positive impact across four continents. They boast successful projects in the Philippines, India, New Zealand, Guatemala, and West Africa, demonstrating the versatility of their approach.

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But IBISA’s impact goes beyond just financial protection. They are actively contributing to several UN Sustainable Development Goals (SDGs) through their work.

These include No Poverty, Climate Action, Decent Work and Economic Growth, Zero Hunger, and Gender Equality. By empowering farmers and the entire agricultural value chain to face the storm of climate change, IBISA is paving the way for a more sustainable and equitable future for all.

The Future of Climate-Resilient Agriculture

IBISA’s innovative approach is paving the way for a more resilient agricultural future. With their recent funding boost and commitment to social impact, they are positioned to empower farmers and the entire agricultural value chain to overcome the storm of climate change.