Risk Modeling for Appraising Named Peril Index Insurance Products : A Guide for Practitioners

Named peril index insurance has great potential to address unmet risk management needs for agricultural insurance in developing economies, potentially contributing to increased agricultural sustainability and improved food security. However, the development and appraisal of index insurance busine...

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Main Authors:	Mapfumo, Shadreck, Groenendaal, Huybert, Dugger, Chloe
Format:	Book
Language:	English en_US
Published:	Washington, DC: World Bank 2017
Subjects:	INDEX INSURANCE AGRICULTURE INSURANCE NAMED-PERIL INDEX INSURANCE ACTUARIAL MODELLING RISK MODELLING FARMERS SMALLHOLDERS INSURANCE RISK MANAGEMENT AGRICULTURE AGRICULTURAL INSURANCE
Online Access:	http://hdl.handle.net/10986/26329

id	okr-10986-26329
recordtype	oai_dc
spelling	okr-10986-263292021-04-23T14:04:35Z Risk Modeling for Appraising Named Peril Index Insurance Products : A Guide for Practitioners Mapfumo, Shadreck Groenendaal, Huybert Dugger, Chloe INDEX INSURANCE AGRICULTURE INSURANCE NAMED-PERIL INDEX INSURANCE ACTUARIAL MODELLING RISK MODELLING FARMERS SMALLHOLDERS INSURANCE RISK MANAGEMENT AGRICULTURE AGRICULTURAL INSURANCE Named peril index insurance has great potential to address unmet risk management needs for agricultural insurance in developing economies, potentially contributing to increased agricultural sustainability and improved food security. However, the development and appraisal of index insurance business lines is not without challenges. Insurers must rigorously evaluate the quality of the products they offer and take care to ensure that distributors and policyholders understand the benefits and limits of the purchased coverage. Without these important steps to ensure responsible insurance practices, insurers can damage the implementation and potential of index insurance in the market. Risk Modeling for Appraising Named Peril Index Insurance Products: A Guide for Practitioners helps stakeholders in the named peril index insurance industry appraise new and existing products. Part 1 of the guide provides a summary of the insights and decisions required for the insurer to make an informed decision to launch and expand an index insurance business line. Insurance managers are the primary audience for part 1. Part 2 provides a step-by-step guide to calculating the decision metrics used by the insurance manager in part 1. These metrics are calculated using probabilistic modeling that provides insights into risks related to the index insurance product. Actuarial analysts are the primary audience for part 2. In an increasingly competitive insurance market, creative product development and imaginative business strategies are becoming the norm. This guide will help emerging market insurers who seek to stay on the cutting edge to successfully and sustainably penetrate new market segments. 2017-04-10T21:54:46Z 2017-04-10T21:54:46Z 2017-04-10 Book 978-1-4648-1048-0 http://hdl.handle.net/10986/26329 English en_US Directions in Development; Directions in Development—Agriculture and Rural Development; CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank Washington, DC: World Bank Publications & Research Publications & Research :: Publication
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English en_US
topic	INDEX INSURANCE AGRICULTURE INSURANCE NAMED-PERIL INDEX INSURANCE ACTUARIAL MODELLING RISK MODELLING FARMERS SMALLHOLDERS INSURANCE RISK MANAGEMENT AGRICULTURE AGRICULTURAL INSURANCE
spellingShingle	INDEX INSURANCE AGRICULTURE INSURANCE NAMED-PERIL INDEX INSURANCE ACTUARIAL MODELLING RISK MODELLING FARMERS SMALLHOLDERS INSURANCE RISK MANAGEMENT AGRICULTURE AGRICULTURAL INSURANCE Mapfumo, Shadreck Groenendaal, Huybert Dugger, Chloe Risk Modeling for Appraising Named Peril Index Insurance Products : A Guide for Practitioners
relation	Directions in Development;
description	Named peril index insurance has great potential to address unmet risk management needs for agricultural insurance in developing economies, potentially contributing to increased agricultural sustainability and improved food security. However, the development and appraisal of index insurance business lines is not without challenges. Insurers must rigorously evaluate the quality of the products they offer and take care to ensure that distributors and policyholders understand the benefits and limits of the purchased coverage. Without these important steps to ensure responsible insurance practices, insurers can damage the implementation and potential of index insurance in the market. Risk Modeling for Appraising Named Peril Index Insurance Products: A Guide for Practitioners helps stakeholders in the named peril index insurance industry appraise new and existing products. Part 1 of the guide provides a summary of the insights and decisions required for the insurer to make an informed decision to launch and expand an index insurance business line. Insurance managers are the primary audience for part 1. Part 2 provides a step-by-step guide to calculating the decision metrics used by the insurance manager in part 1. These metrics are calculated using probabilistic modeling that provides insights into risks related to the index insurance product. Actuarial analysts are the primary audience for part 2. In an increasingly competitive insurance market, creative product development and imaginative business strategies are becoming the norm. This guide will help emerging market insurers who seek to stay on the cutting edge to successfully and sustainably penetrate new market segments.
format	Book
author	Mapfumo, Shadreck Groenendaal, Huybert Dugger, Chloe
author_facet	Mapfumo, Shadreck Groenendaal, Huybert Dugger, Chloe
author_sort	Mapfumo, Shadreck
title	Risk Modeling for Appraising Named Peril Index Insurance Products : A Guide for Practitioners
title_short	Risk Modeling for Appraising Named Peril Index Insurance Products : A Guide for Practitioners
title_full	Risk Modeling for Appraising Named Peril Index Insurance Products : A Guide for Practitioners
title_fullStr	Risk Modeling for Appraising Named Peril Index Insurance Products : A Guide for Practitioners
title_full_unstemmed	Risk Modeling for Appraising Named Peril Index Insurance Products : A Guide for Practitioners
title_sort	risk modeling for appraising named peril index insurance products : a guide for practitioners
publisher	Washington, DC: World Bank
publishDate	2017
url	http://hdl.handle.net/10986/26329
_version_	1764461716720058368

Risk Modeling for Appraising Named Peril Index Insurance Products : A Guide for Practitioners

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