Decades of research has documented that uninsured risk is costly for poor agricultural and pastoral households. Risk makes people poor when it leads them to shy away from high-return but risky activities and when it leads them to savings strategies that cut off pathways out of poverty. Risk also depresses the development of rural financial markets, which is especially important as it reinforces how it affects the decisions these households make.
In cooperation with global partners, the G8 Enabling Action on Risk (GAN) project will capitalize on prior efforts from USAID to help guide recent political momentum towards developing responsible and reliable index insurance solutions to the problem of uninsured risk. This project is an exciting opportunity to close the gap that often exists between knowledge and large-scale implementation that can support agricultural households in escaping poverty and to accelerate global development.
This project is a partnership between the AMA Innovation Lab at UC Davis and the Microinsurance Innovation Facility of the International Labour Organization in Geneva to advance innovations in agricultural insurance and to ensure quality implementation on the ground.