Welcome to Geokali, a new generation of insurance for smallholder farmers…
GeoKa.li offers an innovative way to reimagine the internationally agreed ambition of risk transfer and risk sharing to respond to support climate adaptation, by distributing costs and sharing the economic benefits of data.
Geoka.li’s mission is to redistribute the costs of agricultural insurance and production risk, to reflect the distribution of the economic benefits of the agricultural markets more equitably through the agricultural financial chain.
GeoKa.li will facilitate free/low-cost insurance to Low-and-Middle-Income Countries (LMIC) smallholder farmers (SHF) (who have limited financial resources but potentially deep data resources) while serving the demand for significant, timely, quality data to both farmers and consumers of agricultural market data (agri financial products/commodities traders; agri commodities consumers).
A recent analysis showed that a full 97% of African SHFs are not adequately insured. Moving beyond current insurance products, GeoKa.li proposes that SHFs benefit from (a) insurance more closely linked to their risks than broad index models; (b) advisory based on detailed knowledge of their own inputs and environmental context, and (c) to build resilience through wealth rather than short-term cash flows, through an equity stake in the revenues developed from the data they contribute.
Check out GSMA’s recent report on Agricultural Insurance for SHF here.