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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.

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.
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.
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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
fundacionprofin@fundacion-profin.org
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