Donate Now

Insurance

Home
Insurance

Forest Firefighters Insurance

Accident Insurance for Forest Firefighters: Protection Against Extreme Risks

This insurance represents essential support for wildland firefighters, who risk their lives to protect natural resources. With this coverage, the goal is to ensure their well-being and that of their families in the event of accidents that may occur while performing their duties on the front lines of wildfire defense.

As part of the Bionegocios Guarayos Project, PROFIN has developed, in collaboration with Nacional Vida, a specific accident insurance tailored for this target group, aiming to protect their physical integrity and lives against any accidental eventuality.

For an affordable annual fee of Bs. 210, insured individuals are covered for unforeseen work-related accidents, including falls, burns, smoke inhalation, and injuries caused by equipment. In the case of accidental death or total or partial disability, financial compensation is provided. Additionally, the insurance covers intoxication and suffocation caused by vapors, gases, and other toxic substances, as well as accidental electrocution. It also includes situations resulting from exposure to extreme weather conditions, such as sunstroke and dehydration, among others.

Gold Insurance

«Your Gold Insurance»: Protection and Formalization for Artisanal and Small-Scale Mining

«Your Gold Insurance», promoted by the PlanetGOLD Bolivia Project and CREDISEGURO, was designed to offer a comprehensive solution, providing coverage in case of death and medical care for cooperative miners and their families. With affordable annual costs ranging from Bs. 320 to Bs. 420, it is an accessible option that improves the quality of life for miners.

With a holistic approach, the benefits of having insurance go beyond medical coverage. By acquiring «Your Gold Insurance», cooperatives move towards formalization, meeting the legal requirements set by authorities to operate legally. This formalization opens the door to other benefits, such as financing and technical assistance, and strengthens control over mining activities, increasing transparency in the sector.

The insurance not only provides security but also becomes a catalyst for more miners to enter the formal system, contributing to the economic and environmental sustainability of mining in Bolivia. «Your Gold Insurance» is a key tool to protect and empower those who sustain this vital sector.

We promote Inclusive Insurance that provides protection to vulnerable people and communities. We work on the articulation for access to life, health and agricultural insurance, adapted to local needs. Our mission is to strengthen economic and social resilience, ensuring a safer future for all.

Inclusive Insurance Committee

A space for exchange and generation of proposals to promote the development of inclusive insurance in Bolivia.

The Inclusive Insurance Committee it is an instance in the process of consolidation that aims to generate a continuous exchange of experiences between actors in the insurance market and other actors related to the insurance issue that allows for a proactive debate on insurance products aimed at the most vulnerable populations. In this instance, workshops, discussions and competitions are held at a national and international level through monthly meetings.

Insurance through anchor actors

We promote access to insurance in rural areas through private or public actors that bring together their members around their productive activity. In this way, we are able to offer insurance that is appropriate to their protection needs, easy to enroll in and understand.

Due to remoteness, risks, seasonality and poor financial education, insurance companies do not increase their operations in rural areas. There are also no insurance products that meet the needs of remote sectors of the population and those with limited resources. In this way, we bring the offer closer to the demand of this excluded population, with adequate insurance in terms of coverage, premium insurance cost, agility and opportunity.

Under the scenario described above and taking into account the population concentration and its characteristics, PROFIN catalyzes actions to generate a critical mass of potential rural and peri-urban clients that allow generating or influencing efficiency improvements, at the level of transaction costs, opportunity costs, processes, cross-selling, both for insurers and for Family Productive Units.

Parametric Insurance

The development of commercial agricultural insurance in Bolivia is still incipient, despite the urgent need and demand of producers who need to have a risk transfer tool, which will deal them to cope with crop losses due to adverse weather events related to Climate change.

The Inclusive Insurance Project through its Component III Agricultural Insurance, aims to demonstrate that it is feasible to implement a parametric agricultural insurance scheme in Bolivia, based on climate indices, developing and introducing into the market a product appropriate to the need for climate coverage in the soybean sector and that increases the resilience of producers.

Due to the significant losses suffered by producers from the east of Santa Cruz, a model has been developed to cover the excess and/or deficit of water, the index of which is the water balance (water available in the soil) that is marketed through financial entities and linked to credit.

Once the design was completed, it was seen that it was necessary to carry out a pilot (simulation) to validate the efficiency of the model, an initiative to which Banco Unión joined, allowing us to use information from its clients in the oilseed production portfolio. Alianza de Seguros also joined, and UNIBienes, which was later integrated to take the risk.

All the actors involved in this productive sector are part of the development; such as SENAMHI, an entity that provided historical climate information (30 years) from the meteorological stations in the production area, which allowed us, together with Emiliano Castuma from AON Benfield Agrobussines from Argentina, to design the model and also generate the monthly water balance based on the information provided by the stations.

ANAPO, the umbrella entity for small oilseed producers, is a key partner in carrying out this project and also co-finances the acquisition of stations in areas where this instrument is not available.

The Government of Santa Cruz, as well as the Agricultural Chamber of the East and the Association of Input Suppliers are also involved in the process and support the actions.

In this way, once the results of the pilot were obtained, to which an additional element such as satellite and drone monitoring was incorporated through the service provided by Terramap, it was possible to demonstrate that the model works and within the lessons learned that arose from this experience, it was decided to improve the product by incorporating agronomic elements (soil, zonal phenology) to make it more precise. The need to install two stations in the municipalities of Pailón and Cuatro Cañadas was also addressed to have a greater coverage range.

The policy is in the process of being registered and is expected to begin marketing for the 2020 winter campaign.

Livestock Insurance

In a context of climate change and exposure to risk by the Family Productive Units, PROFIN emphasizes the innovation of financial and insurance products and services for the rural productive sector, facilitating their offer, in order to transfer non-controllable risks and comprehensively manage the risks inherent to productive activity. In this logic and in coordination with financial and insurance entities, Livestock Insurance for Dairy Cattle has been implemented.

Livestock Insurance is an innovative product of credit-linked insurance for the benefit of the productive sector. The insurance is marketed through the financial entity Banco Union.

PROFIN has achieved the articulation of the financial system with the insurance system based on this product, which has allowed a favorable synergy between credit and insurance benefiting all actors in the chain. Additionally, it allows the expansion of the insurance market to the rural area, mitigates the risk of default in financial intermediation entities and it helps maintain productive capacity by replacing the injured (or lost) animal. which is the main asset of the Family Productive Units. This insurance, which is granted by the insurance company Credinform, offers coverage for death due to accidental accidents, specific diseases or weather events for dairy cattle on the hoof; that is, cows in production, heifers and breeding bulls. It is characterized by having a cost accessible to the economy of small producers, granting compensation of 80% of the insured value of each animal, an amount that allows them to replace their productive assets. Its coverage extends across the highlands, valleys and plains, in all regions that have a dairy production vocation. Furthermore, as an additional benefit, at no cost to the producer who owns the insured animals, the “Telephone Veterinary Assistance for Accident or Illness” service was incorporated, through which a veterinarian from the Insurance Company will provide advice and guide the producer so that he can provide the necessary assistance to the sick or injured animal.

Insurance Catalog

The development of commercial agricultural insurance in Bolivia is still incipient, despite the urgent need and demand of producers who need a risk transfer tool, which will allow them to cope with crop losses due to adverse weather events related to climate change.

Find Us

Head Office La Paz – Bolivia
Av. Sánchez Lima, Tango Building, Mezzanine • Sopocachi • P.O. Box 1002

Santa Cruz Office – Bolivia
Av. Busch near 4to. Anillo, Street 5, House No.4 (across from the court)

Phone number

(591) 2 2430850 – 2430853 – 2430854

E-mail

fundacionprofin@fundacion-profin.org