New York, NY – September 11, 2019 – Blue Marble Microinsurance, a startup with the mission of providing socially impactful, commercially viable insurance protection to the underserved, has been awarded a long term agreement from The United Nations World Food Programme (WFP), to become a provider of weather index insurance solutions for the organization across the African continent. The goal of the collaboration between Blue Marble and WFP is to improve the financial security of smallholder farmers by delivering meaningful, affordable insurance solutions.
Since 2018, Blue Marble and WFP have been working together in Zimbabwe in the R4 Rural Resilience Initiative, protecting smallholder farmers against drought through designing and implementing risk transfer solutions. The R4 initiative supports smallholder farmers across Africa by facilitating access to financial services involving risk management.
Blue Marble has developed an insurance offering that is customizable to soil types, crops, seed varieties and farming practices. It uses satellite technology to monitor parameters that trigger payouts, eliminating the need for costly in-field assessment.
“We are excited to expand our partnership with WFP across Africa building on the work we have done in Zimbabwe and our joint commitment to increase the resilience of smallholder farmers to climate risk”, said Jaime de Piniés, Head of Africa at Blue Marble.
Lorenzo Bosi, Resilience and Climate Change Coordinator for WFP Zimbabwe, is equally enthusiastic about the collaboration. “Working with a dynamic company such as Blue Marble will allow WFP to further scale up and refine innovative climate risk solutions for food insecure and vulnerable people, leveraging on private sector expertise,” he said.
Blue Marble launched its first venture in Zimbabwe in 2016 and remains committed to advancing financial inclusion programs for underserved populations in Africa. Blue Marble is now scaling the weather index insurance offering across the continent with WFP and other partners.
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Blue Marble Microinsurance Hello@BlueMarbleMicro.com
About Blue Marble Microinsurance
Blue Marble Microinsurance is a startup with a mission of providing socially impactful, commercially viable insurance protection to the underserved. A UK corporation owned by eight insurance entities, Blue Marble incubates and implements microinsurance solutions that support the economic advancement of underserved populations.
The owners are: American International Group, Inc., Aspen Insurance Holdings Limited, Grupo ASSA, Guy Carpenter & Company, LLC together with Marsh & McLennan Companies, Inc., Hamilton Insurance Group, Ltd., Old Mutual Emerging Markets Limited, Transatlantic Holdings Inc., and Zurich Insurance Company Ltd.
For more information, visit the Blue Marble website: www.bluemarblemicro.com.